Uber Technologies Inc (Uber) is a United States-based multinational ridesharing company which offers services including peer-to-peer ridesharing, food delivery (Uber Eats), and a micromobility system with electric bikes and scooters (New Mobility). Uber also offers Uber Freight (Uber's freight forwarding business), and vehicle leasing solutions (Vehicle Solutions), which Uber leases vehicles to third parties through. Uber's platforms can be accessed via its websites and mobile apps.
Uber is incorporated in Delaware and headquartered in San Francisco, California. The company has operations in over 69 countries worldwide. Uber was founded by Travis Kalanick and Garrett Camp in March 2009, reportedly because of the expense to hire a driver on New Years Eve.
In the year ending 31 December 2019, Uber completed 6.9 billion trips and had 111 million monthly active platform consumers. The United States and Canada represents the company's largest market, accounting for 62.24% (USD 8,805 million) of total revenue.
Uber is listed on the New York Stock Exchange under the code UBER.
Rides - The rides segment includes revenue from vehicle solutions and other revenue. Revenue is derived through Uber's ridesharing application. Revenue is earned from service fees paid by partners for use of the Uber ridesharing platform and related service to connect with riders and successfully complete a trip via the Uber platform. Uber recognises revenue when a trip is complete. Depending on the market where the trip is completed, the service fee is either a fixed percentage of the end-user fare or the difference between the amount paid by an end-user and the amount earned by a partner. In markets where Uber earns the difference between the amount paid by an end-user and the amount earned by a partner, end-users are quoted a fixed upfront price for ridesharing services while Uber pays partners based on actual time and distance for the ridesharing services provided. Therefore, the company can earn a variable amount and may realise a loss on the transaction. In the year ending 31 December 2019, the ridesharing segment accounted for 75.95% (USD 10,745 million) of total revenue.
Eats - The eats segment derives revenue primarily from service fees paid by partners for use of the Uber Eats platform and related service to successfully complete a meal delivery service via the platform. The company recognises revenue when an Uber Eats transaction is complete. The service fee paid by delivery partners is the difference between the delivery fee amount paid by the end-user and the amount earned by the delivery partner. End-users are quoted a fixed price for the meal delivery while Uber pays partners based on actual time and distance for the delivery. Therefore, the company earns a variable amount on a transaction and may realise a loss on the transaction. In the year ending 31 December 2019, the Uber Eats accounted for 17.74% (USD 2,510 million) of total revenue.
Freight - The freight segment connects carriers with shippers on the company’s platform, and gives carriers upfront, transparent pricing and the ability to book a shipment. In the year ending 31 December 2019, the freight segment accounted for 5.17% (USD 731 million) of total revenue.
Other bets - The other bets segment consists of multiple investment stage offerings. The largest investment within the segment is the company’s New Mobility offering that refers to products that provide consumers with access to rides through a variety of modes, including dockless e-bikes and escooters. It also includes Transit, UberWorks and the company’s Platform Incubator group. In the year ending 31 December 2019, the vehicle solutions segment accounted for 0.84% (USD 119 million) of total revenue.
ATG and Other Technology Programs - The ATG and Other Technology Programs segment is responsible for the development and commercialisation of autonomous vehicle and ridesharing technologies, as well as Uber Elevate. In the year ending 31 December 2019, the ATG and Other Technology Programs segment accounted for 0.30% (USD 42 million) of total revenue.
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