Uber sees its burgeoning food delivery service as a massive opportunity

Business Insider | 4/11/2019 | Lisa Eadicicco
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Uber believes its Uber Eats app addresses a $795 billion market.

So far, it believes it has only penetrated 1% of that market considering Gross Bookings for Uber Eats have reached $7.9 billion in 2018.

Company - Uber - Eats - Meal - Delivery

The company says it views Uber Eats as being the largest meal delivery platform in the world outside of China.

Uber believes the food delivery program it launched more than three years ago addresses a $795 billion market, the company revealed in the S-1 documents it filed on Thursday as part of its initial public offering.

Market - Uber - Eats - Company - Amount

The serviceable addressable market for Uber Eats is $795 billion, the company wrote, which refers to the amount that consumers spent on home delivery, takeaway, and drive-through worldwide from restaurants, cafés, bars in 2017. The company believes it penetrated 1% of this $795 billion market given that Uber Eats Gross Bookings reached $7.9 billion in 2018.

Based on Gross Bookings, the company says it believes Uber Eats is the largest meal delivery platform in the world outside of China. Of the 91 million monthly active platform consumers on Uber's platform, more than 15 million received a meal using Uber Eats in the December quarter. The company defines Gross Bookings, not to be confused with revenue,...
(Excerpt) Read more at: Business Insider
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