• The Verge reports that Uber said yesterday that it has set as a goal to have its Uber Eats food delivery business reach “70 percent of the US population by the end of 2018.
Currently, Uber Eats covers a little over 50 percent of the US population, delivering food for an estimated 100,000 restaurants. So an increase of 20 percent in just two and a half months is certainly an aggressive growth target.”
According to the story, “In order to achieve this goal, Uber Eats is targeting mostly less-dense suburban communities, which is the type of market where its core ride-hailing business has traditionally struggled to gain a foothold. Uber Eats hopes to find success by partnering with huge restaurant chains like Red Lobster and TGI Friday’s and changing the signup process for new restaurants to make it less cumbersome for smaller operations.”
These moves come ahead of a planned IPO next year, which Uber hopes will value the company at $120 million; the food delivery business is said to be worth about $20 billion of that, and is one of the company’s bright spots.
Currently, Uber Eats covers a little over 50 percent of the US population, delivering food for an estimated 100,000 restaurants. So an increase of 20 percent in just two and a half months is certainly an aggressive growth target.”
According to the story, “In order to achieve this goal, Uber Eats is targeting mostly less-dense suburban communities, which is the type of market where its core ride-hailing business has traditionally struggled to gain a foothold. Uber Eats hopes to find success by partnering with huge restaurant chains like Red Lobster and TGI Friday’s and changing the signup process for new restaurants to make it less cumbersome for smaller operations.”
These moves come ahead of a planned IPO next year, which Uber hopes will value the company at $120 million; the food delivery business is said to be worth about $20 billion of that, and is one of the company’s bright spots.
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