UBER EATS EXTENDS ITS GROWTH STREAK

Uber Eats’ business continued to accelerate in the fourth quarter as the company narrowed its losses and once again outshined its ride-sharing counterpart. Gross bookings grew 18% quarter over quarter and 128% year over year, reaching $10.1 billion in the three months ending Dec. 31. Revenue increased 224% year over year, to $1.35 billion—nearly matching ride-sharing revenue, which …

Uber losses narrow as delivery growth outpaces fall in ride-sharing

Uber’s losses are narrowing as delivery growth continues to outpace a drop in ride-sharing revenue. The company reported mixed Q4 2020 earnings on Wednesday, beating expectations on loss-per-share but falling short on revenue, according to Refinitiv estimates. For all of 2020, Uber’s net losses amounted to $6.77 billion, around a 20% improvement from a staggering …

Despite Food Delivery Boom, Uber Has Lost $5.8 Billion in 2020

You’re not the only one having a roller coaster of a week. On Tuesday, California voters handed San Francisco-based Uber a big ticket victory, agreeing that the gig-worker-contingent company needn’t offer its food delivery and ride-hailing drivers employee protections. It’s a decision that will save Uber millions, and sent its stock soaring by 15 percent, the …

Postmates Is Over $929.3 Million in the Hole

According to the Wall Street Journal, a Friday regulatory filing from SF-based Uber reveals that (also SF-based) food delivery app Postmates is running at a very, very steep loss. “Postmates had an accumulated deficit of $929.3 million as of June 30,” reporter Laura Forman notes, and in the second quarter of 2020 — yes, in those …

Uber’s Postmates Acquisition Might not Deliver the Profitability Expected

According to Uber, Postmates saw a 125% increase in revenue during the period as sales jumped from $71 million to $160 million. And though that allowed it to slash its losses for the quarter, it indicates that even during a period of unprecedented consumer demand, Postmates is still a money-losing operation. That’s not much different from Grubhub (NYSE:GRUB), which …

POSTMATES MORE THAN DOUBLES REVENUE IN Q2 AHEAD OF UBER EATS DEAL

Third-party delivery service Postmates saw revenues increase by more than 125% in the second quarter while also cutting its losses as it heads into a proposed acquisition by Uber Eats—a deal that has drawn additional scrutiny from the Department of Justice.  That information was disclosed in a document filed late Friday by Uber with the Securities and …

Ordrslip Adds Postmates Integration to Its Mobile App Software for Restaurants

Restaurant tech company Ordrslip announced today it has partnered with Postmates to add delivery integration into its mobile app software, according to a company press release sent to The Spoon. Per today’s announcement, Ordrslip’s software lets restaurant customers “create custom-looking whitelabel mobile ordering applications via Ordrslip.” It’s no secret that, since the pandemic pushed the …

Grubhub and Postmates Are Actively Defying Portland’s New Delivery Fee Law

Three weeks after Portland City Council passed a new ordinance capping fees on food delivery apps at 10 percent, two companies — Postmates and Grubhub — are still flouting the rules, and taking fees of up to 30 percent from local restaurants. In early July, City Council unanimously passed a fee cap to help small businesses struggling …

Local restaurants navigate food delivery — it comes down to cost and service

For some restaurants in Sahuarita and Green Valley, delivery service has become essential to stay afloat. Some are turning to third-party service apps like Postmates or the new, local Foodie Magoo’s, while others are handling deliveries with their own staffs. It all comes down to cost and service.  Using Postmates Denny’s in Sahuarita is signed …

How Postmates Will Help Uber Eats Turn Profitable

[Updated 7/8/2020] Uber Confirms Postmates Deal. How Will It Drive Profitability? On Monday, Uber confirmed that it will be acquiring food delivery service Postmates for approximately $2.65 billion in an all-stock transaction, as it looks for a path to profitability for the Uber Eats business that remains significantly loss-making, despite witnessing strong demand through the …