- Uber is expected to go public later this week in one of the most anticipated initial public offerings in recent memory. However, the company has lost millions in the last two years.
- Uber Eats, the company’s food-delivery service, will help it become profitable by 2024 as it keeps taking market share from competitors like GrubHub, analyst Ali Mogharabi says.
…In a panel at the company’s annual investment conference, he said Uber Eats now accounts for over 25% of all U.S. food-delivery and takeout orders; that’s up from about 11% a year and a half ago. Meanwhile, GrubHub’s share of delivery and takeout orders have gone down to less than 40% from more than 60% in the same time period.
…”Uber Eats, we actually think is very critical,” said Mogharabi, noting the company could become profitable by 2024 thanks in part to Uber Eats’ growth.