UBER EATS IS A WORKHORSE FOR ITS PARENT COMPANY.
THE ADDRESSABLE MARKET FOR RESTAURANT DELIVERY IS MASSIVE AND UBER EATS IS ONLY SCRATCHING THE SURFACE.
Uber Eats estimates global consumer spending on off-premise orders via restaurants is currently at $795 billion, with diners shelling out 20 percent of that figure on home delivery. The third-party service has only captured 1 percent of the total market so far, it said. Uber Eats gross bookings totaled $7.9 billion in 2018.
CHAIN PARTNERSHIPS ARE VALUABLE TO UBER EATS. MORE VALUABLE THAN THEY ARE TO THE RESTAURANTS.
Uber Eats started testing out its exclusive partnership with McDonald’s in January 2017. While the fast food chain isn’t mentioned extensively in the filing, Uber does address how it works with partners in general. “We charge a lower service fee to certain of our largest chain restaurant partners on our Uber Eats offering to grow the number of Uber Eats consumers,” it reads.