UberEats is making a profit, but Uber is not (Reuters)
Despite its seemingly successful business model and cultural ubiquity, Uber has yet to make a profit. But there is one part of the company that’s making money thanks to hungry customers everywhere.
As of July, UberEats, the food delivery service, was profitable in 27 of the 108 cities where it operates, according to the New York Times. And despite stiff competition from GrubHub and Postmates, UberEats has made great strides in the industry.
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With an existing presence in hundreds of cities around the world, a built-in network of more than two million Uber drivers and a decade’s worth of city mapping to identify the most efficient routes, UberEats has seen rapid growth since it launched in 2015. The service had more than eight million users in U.S. alone as of early 2017, according to Eater.
“The number of trips taken by UberEats drivers grew by more than 24 times between March 2016 and March 2017,” the Times reports.
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But despite its success thus far, UberEats is likely to face even more competition from businesses like Amazon, which has been growing its own food delivery business, and is expected to increase with its recent acquisition of Whole Foods.
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