Uber has big goals, and the company isn’t afraid to dip its toes in a lot of different waters. It has tried everything so far, from Uber helicopters to cars that drive themselves.
Most people are familiar with the brand’s ride-hailing services. But Uber has also become a leader in the food delivery business through Uber Eats, which is a subsidiary.
The food delivery arm of the company has a huge reach around the world. It works in nearly 6,000 cities in 45 different countries. The company’s investments in its food delivery service are paying off. In 2022, Uber made $31.8 billion in income.
This is almost 82 percent more than last year and more than 60 times as much as in 2014. The company said that food delivery brought in close to $11 billion in sales. One reason for the food delivery service could be that, in 2020, it will buy Postmates.
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The purchase made it possible for prescription drugs and alcoholic drinks to be sent to people’s homes. Even though the company has been very successful, the share price hasn’t kept up with the rest of the tech sector.
Since its lowest point in 2022, UBER stock has gone up more than 60%. But it is still a long way from its all-time high of $65 per share. Still, it’s possible that Uber will become a well-known winner once the tech market gets stronger.
Even though the pandemic may be over, we may still be using Uber Eats for a while.