Uber Eats (and other food delivery services) are attempting to reduce costs further through the use of “dark kitchens”, which are set up by restaurants in cheaper locations and only focus on delivery. That said, Uber Eats has reported lower losses year-on-year, so potentially as the market consolidates, it may reach a point of profitability. The argument made by Uber is once it has expanded enough and the market has stabilized, Eats will be profitable, but investors are worried that even in the pandemic, when Uber saw its gross bookings triple, it still failed to generate a profit.
Uber bolstered its position in July 2020 with the acquisition of Postmates for $2.65 billion.Įven though Uber takes a cut of between 20 to 30 percent of all orders, it has yet to make a profit. In its home market, Uber has been in fierce competition with DoorDash, which surpassed Grubhub to become the most popular food delivery service in 2019.
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