Page 59 - Forbes - Asia (April 2019)

TECHNOLOGY

Since the launch of Uber Eats, hen early investors were pitched on Uber’s
its leader, Jason Droege, has had
18% of all of his meals from Eats, original plan for a car-service app in 2008,
including this bowl of noodles. it wasn’t until the second-to-last slide that
Wthey heard delivery could be another mon-
eymaker for the business. Ten years later, delivery is no lon-
ger an afterthought. According to projections from its CEO,
Uber’s Secret Dara Khosrowshahi, Uber Eats is on track to deliver some

$10 billion worth of food worldwide this year, up from an

Gold Mine estimated $6 billion-plus last year. Uber takes a 30% cut and
a delivery fee, then pays drivers, suggesting that Uber Eats
could generate at least $1 billion in revenue this year, or an
estimated 7% to 10% of the total. That means Uber Eats is
already among the planet’s largest food-delivery services
Uber Eats could make up a tenth and ranks second in the U.S. behind rival Grubhub ($1 bil-
of the ride-hailing giant’s revenue lion in 2018 revenue) and ahead of competition like Caviar,

this year, but rivals are already Postmates and DoorDash.
TIM PANNEL FOR FORBES BY BIZ CARSON losing San Francisco-based company was valued at some $76
trying to tap the same vein.
Uber could certainly use the extra calories. The money-

billion when it last raised money, in August 2018, and bank-
ers hope its IPO, expected as early as this quarter, could boost
that to $120 billion. The problem is, there is no way Uber’s

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