Uber logs record fourth-quarter bookings, but growth is slowing

With its initial public offering fast approaching, Uber Technologies Inc. today posted fourt- quarter results that show strong end-of-year momentum but …

With its initial public offering fast approaching, Uber Technologies Inc. today posted fourt- quarter results that show strong end-of-year momentum but indicate the company’s growth may be slowing.

The ride-hailing giant, which currently shares only limited earnings information, generated $3 billion in revenue during the last three months of 2018. That’s up 2 percent from the previous quarter and 25 percent over the same period in 2017. Uber made that $3 billion on gross bookings $14.2 billion, which in turn represents a 37 percent year-over-year gain as well as an all-time record.

The fact that the company managed to increase both revenues and bookings significantly is particularly notable in the context of its bottom line. Uber, which spends aggressively to support its expansion roadmap, narrowed adjusted losses to $768 million in the fourth quarter from $1.1 billion the prior year. However, when looking at 2018 as a whole, it appears the company’s efforts to lower operating expenses did cut into overall growth.

Uber closed 2018 with total revenues of $11.3 billion, a 43 percent year-over-year rise. That’s an impressive jump even by tech unicorn standards, but it still amounts to a significant drop from the 61 percent sales growth the ride-hailing giant recorded in 2017.

The company’s bottom line fared better. Total adjusted losses in 2018 added up to $1.8 billion, down 15 percent from 2017. On a net basis, that number falls to just $370 million on account of the boost from Uber’s exit of certain unprofitable international markets last year.

Yet even amid the effort to cut costs, the company continues to invest in loss-making businesses. Uber is developing autonomous vehicles, has entered the scooter market and competes in the food delivery segment as well with a service called Uber Eats. The company is already seeing some dividends on these bets: A tipster told Reuters that Uber Eats’ quarterly bookings have exceeded $2.5 billion.

Uber’s food delivery service and other emerging businesses will likely become even more important going forward given the growth slowdown in 2018. One of the factors weighing on Uber’s top line is the increased competition from ride-hailing rival Lyft Inc., which is likewise expected to go public this year.

Uber’s newer businesses are also coming under more pressure from rivals. Competing food delivery provider Postmates Inc. recently filed for an IPO, while scooter-sharing startup Bird Rides Inc. is reportedly in the process of raising a $300 million funding round.

Photo: ell-r-brown/Flickr

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Peloton pedals toward an IPO, self-driving is big business and SaaS’s new highs

We had TechCrunch’s own Connie Loizos in the studio along with your humble servant and General Catalyst’s Niko Bonatsos. A fine group for a busy …

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week was a treat. We had TechCrunch’s own Connie Loizos in the studio along with your humble servant and General Catalyst’s Niko Bonatsos. A fine group for a busy week.

We had to pare our topic list some for length, but after working out what qualified as the biggest news from our usual orbit, we decided to touch on:

  • Peloton’s bank shopping:Peloton, the popular in-home cycling service, is looking for banks to help take it public. We riffed on its revenue, revenue growth, its possible margins and price points. Peloton has become a big name in recent quarters due to its growth, and its marketing. We’re excited to read the eventual S-1. Check here for historical context regarding its debut.
  • Postmate’s private IPO filing:Postmates actually filed, albeit privately, putting it a smidge further along the public-offering conveyor belt. The Postmates IPO will help the market better understand the food delivery marketplace, an area where a host of companies play. Including the company in our next topic!
  • DoorDash’s latest round: Yes, more money for food delivery. DoorDash is said to be on the hunt for $500 million more at a valuation around $6 billion. That’s many dollars at a very high price. Oh, and don’t forget this.
  • Nuro’s enormous check: Have you heard of Nuro? No? Neither had we. But it just raised over $900 million in a single go. Even for 2019, the delivery-robot-car company’s fundraising is aggressive.
  • And the latest in SaaS: Quickly, the private SaaS market looks hot, and the public SaaS market is scorching. It’s a good time for SaaS. Which is odd, as it seemed that the world ended in December.

All that and we had some fun. Thanks as always for listening to Equity; it’s a treat to make for you each week. Stay cool!

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Pocket Casts, Downcast and all the casts.

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Food Delivery Startup Postmates Files for IPO

As we noted in our January story, the eight-year-old Postmates has competition from services like Amazon Restaurants, Uber Eats, Door Dash and …

No time frame, size or price range for the IPO has not been specified.

Subscription News: Food Delivery Startup Postmates Files for IPO

Source: Postmates

Last week, San Francisco-based food delivery startup Postmates Inc. filed confidentially for an initial public offering with the Securities and Exchange Commission, reports the Wall Street Journal. Postmates has not specified a time frame to complete the IPO, nor the size or price range they are targeting. Postmates confirmed the filing in a brief February 7 statement. Postmates said the IPO will begin after the SEC has completed its standard review.

This news comes just three weeks after Postmates announced it raised $100 million in Series F funding. At that time, the company was valued at $1.85 billion. Four months earlier, Postmates announced $300 million in funding, as the company marched toward an IPO.

What makes a food delivery startup worth nearly $2 billion? There are several factors that make Postmates attractive to investors. Looking back to the September funding round, Postmates shared some of their impressive growth statistics:

  • Postmates average annual growth was more than 250 percent over the past four years, with gross margins now close to 50 percent.
  • Postmates makes millions of deliveries each month, generating more than $1 billion in gross merchandise volume per year.
  • Postmates saw record adoption of its Unlimited subscription model in 2018, doubling the number of total subscribers from 2017. This huge influx of subscribers gives Postmates and its investors some solid recurring revenue on which to rely going forward.
  • The Unlimited subscription plans growth has been 300 percent, year-over-year, with one of every two orders coming via the Unlimited subscription program.

Subscription News: Food Delivery Startup Postmates Files for IPO

Source: Postmates

The transformation of how commerce moves in cities demands that we build the most innovative tools for businesses to keep up and distribute their products to the modern consumer efficiently and cost effectively, said Bastian Lehmann, Postmates CEO and co-founder, in a September 18 statement. Postmates is proud to be the first and largest on-demand network that is enabling the growth of retail across the country, and todays investment accelerates our ability to pair technology with the vitality of our neighborhoods.

The companys Unlimited subscription program, which launched in 2016, is contributing to the companys success and its long-term value to investors. Subscribers pay $9.99 a month, or $95.88 per year, after a free seven-day trial to get free delivery on restaurant deliveries more than $15 from more than 350,000 restaurants in major cities including Los Angeles, New York City, Miami, Chicago, Phoenix, Seattle and more. Subscribers also skip added fees for small carts and peak pricing, and they get exclusive membership offers including promotions, discounts and invitations to exclusive events. Postmates claims that a membership pays for itself for subscribers who place one order a month. The average Unlimited subscriber saves $90 a year.

As we noted in our January story, the eight-year-old Postmates has competition from services like Amazon Restaurants, Uber Eats, Door Dash and Grubhub, but Postmates has some serious financial backing. What sets Postmates apart is Postmates partners and ultimately its customer service Do they deliver on time? Is the food still fresh when you get it? Do they keep their promises to their customers?

Insider Take:

The way consumers shop and dine has changed dramatically in the last several years. Postmates recognizes that, and it is meeting customers where they are at home or work. When the busy-ness of life takes over and customers dont have time to shop or cook, Postmates is there to save the day and to make sure customers eat without having to go out. The subscription program and the huge infusions of cash have provided the company with additional stability, making the time right for an IPO.


Dana Neuts is Subscription Insider’s Senior Staff Writer, covering our daily subscription news as well as member features, case studies, and reports.

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A look at the new art and etiquette of tipping

The art and etiquette of tipping has always been a delicate dance between customers, business owners and employees. But with technology changing …

The art and etiquette of tipping has always been a delicate dance between customers, business owners and employees. But with technology changing around us, even traditional tipping is starting to change. Between delivery drivers, ride-shares and the dreaded iPad swivel at many favorite restaurants, there’s a lot of new rules to tipping.

Delivery drivers

Unlike ordering a pizza on the phone, drivers for delivery services like Postmates or GrubHub aren’t actually employed by the restaurants we’re ordering from. In fact, they aren’t aware of the delivery address until they accept the task; meaning they could lose money on time or gas by the time they finish their trip. The rule for delivery has always been 15 percent, so a good idea would be to apply that logic to this same service, and perhaps be a little more patient when determining more or less.

Ride-share

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Services like Uber and Lyft allow you to order a car right to your location, much like a taxi but with a little more pomp and circumstance. The unfortunate reality of this tipping navigation is that drivers are able to rate riders as well. Meaning if they’re giving their best to give good service and you don’t tip them at all, they may rate you as an undesirable passenger, hurting your changes for future rides. It’s a good rule of thumb in any case to tip a dollar or two — or more if the service really deserved it.

At-the-counter

How much do you tip someone who isn’t providing table-side service? What’s important to keep in mind here is the designed social pressure of this ask that’s now popular at many countertop registers.

In the moments when you’re about to get your food, or are rushing to put your wallet away, and the cashier is looking at you — these moments are perfect to ask if you could spare a few more dollars. And it’s alright to say no.

If the service at the counter was exceptional, then go ahead and tip. But if it was just basic service that you didn’t feel warranted an additional 15 percent what you paid, it’s OK to select “no tip” and feel guilt-free.

Regardless of how you feel about tipping, also try to remember that the ask is almost never designed by the employee you’re interacting with. That means even if the ask for a tip at the coffee kiosk annoys you, the barista did not opt to put it there. In the end, tip what you believe is fair and earned.

Kat’s Money Corner is posted on Dollars & Sense every Tuesday. Kat Hnatyshyn, when not blogging or caring for her little ones, is a manager with CommunityAmerica Credit Union. For more financial chatter, visit http://communityamerica.com.

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Online On-Demand Food Delivery Services Market 2019, By Key Players are- Deliveroo, Delivery …

Online On-Demand Food Delivery Services Market 2019, By Key Players are- Deliveroo, Delivery Hero, DoorDash, GrubHub, Just Eat Holding, …
Online On-Demand Food Delivery Services

Online On-Demand Food Delivery Services

This report focuses on the global Online On-Demand Food Delivery Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Online On-Demand Food Delivery Services development in United States, Europe and China.

Request a Sample of this Report@ www.orbisresearch.com/contacts/request-sample/2703292

Online on-demand food delivery service providers are adopting digital and social media promotional campaigns in their marketing strategies. These services are further boosted by digital platforms through mobile and smartphone technologies. Their various features increase their service visibility and expand their product portfolio. Further, service providers further use social media platforms to run their service promotions and campaigns. These platforms increase consumer engagement and create brand and service awareness. The increasing digital platform and consumer engagement on social media platforms is identified to be one of the key factors having a positive impact on the online on-demand food delivery services market.

In 2017, order-focused food delivery services dominated the market by accounting for a share of more than 95%

In 2017, the Americas dominated the global online on-demand food delivery services market and accounted for a share of more than 45%

In 2017, the global Online On-Demand Food Delivery Services market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of 32.6% during 2018-2025.

The key players covered in this study

• Deliveroo

• Delivery Hero

• DoorDash

• GrubHub

• Just Eat Holding

• MEITUAN

• Foodler

• Postmates

• Swiggy

• OrderUp

• Munchery

To make an enquiry on report@ www.orbisresearch.com/contacts/enquiry-before-buying/2703292

Market segment by Type, the product can be split into

• Order-focused food delivery services

• Logistics-focused food delivery services

Market segment by Application, split into

• Office buildings

• Family

• Other

Market segment by Regions/Countries, this report covers

• United States

• Europe

• China

• Japan

• Southeast Asia

• India

• Central & South America

Some Point from Table of Content:

1 Report Overview

1.1 Study Scope

1.2 Key Market Segments

1.3 Players Covered

1.4 Market Analysis by Type

1.4.1 Global Online On-Demand Food Delivery Services Market Size Growth Rate by Type (2013-2025)

1.4.2 Order-focused food delivery services

1.4.3 Logistics-focused food delivery services

1.5 Market by Application

1.5.1 Global Online On-Demand Food Delivery Services Market Share by Application (2013-2025)

1.5.2 Office buildings

1.5.3 Family

1.5.4 Other

1.6 Study Objectives

1.7 Years Considered

2 Global Growth Trends

2.1 Online On-Demand Food Delivery Services Market Size

2.2 Online On-Demand Food Delivery Services Growth Trends by Regions

2.2.1 Online On-Demand Food Delivery Services Market Size by Regions (2013-2025)

2.2.2 Online On-Demand Food Delivery Services Market Share by Regions (2013-2018)

2.3 Industry Trends

2.3.1 Market Top Trends

2.3.2 Market Drivers

2.3.3 Market Opportunities

Browse full report@ www.orbisresearch.com/reports/index/global-online-on-dema…

About Us:

Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

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