Uber Eats Data and Financials Have been Unveiled in Uber's IPO Prospectus

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For the last few months, the media has been reporting that the tech company Uber is on the verge of an IPO.

Well, it's officially happening this week. On Friday, Uber has released its S-1 financials document as part of the IPO process.

In this document, Uber had to disclose data on all of its companies, including its popular food delivery service platform Uber Eats.

Uber Eats is the largest growing sector in Uber's portfolio and according to the document, there are 91 million monthly active users of the platform.

"Of the 91 million [Monthly Active Platform Consumers] on our platform, over 15 million received a meal using Uber Eats in the quarter ended December 31, 2018, tapping into our network of more than 220,000 restaurants in over 500 cities globally," writes Uber Eats, as reported by "The Spoon."

Some of the other stats released by the company this week include-

  • The average Uber Eats delivery time is 30 minutes.

  • Uber Eats grew by $2.6 billion in gross during the quarter that ended in December of last year.

  • Uber Eats made $7.9 billion in gross in 2018

The company also claims that these findings make the third-party delivery app "the largest meal delivery platform in the world outside of China."

Although the company's popular ride-sharing app made it easy for the company to branch out into food delivery, 50 percent of first-time Uber Eats users in 2018 were new to the Uber app.

So what's next for Uber Eats? The company announced it has plans to expand into grocery delivery.

Read more about the Uber IPO and Uber Eats' financials at "The Spoon" now.

Late last month, Uber Eats rolled out a new fee structure, a move by the company to increase profits. Watch The Barron Report episode below where Host Paul Barron breaks down the new fees and the impact they will have on the restaurant industry.

Uber Eats Rolls Out New Fees Prior to Suspected IPO

Third-party delivery services emerged as a much-needed solution for restaurant operators. These services have made it easier for brands to offer delivery to consumers that are starting to expect this convenience.

But as more operators use these services, the more the fees increase and these fees cut into profits. Uber Eats, for example, takes a 30 percent cut, plus the platform also collects a $4.99+ delivery fee from the customer.

But operators aren't the only ones investing in these delivery apps. Now that Uber Eats has established a loyal customer base, the company is rolling out a new fee structure.

Instead of just a booking fee, this fee will be divided into two fees a service fee and delivery fee. The delivery fee will vary based on the restaurant and the service fee will be 15 percent of the order. On orders of $10 or less, there will now be a small order fee.

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Shutterstock

"Since Uber Eats doesn’t keep a comparison of its old booking fees up on the app, customers are understandably confused about whether prices have gone up or not," writes "The Verge."

However, it's definitely a move by Uber to increase profits.

“We’ve seen a number of changes to the fee structure on Uber Eats over the past year which tells me they’re experimenting and trying to figure out the best way to get profitable on this service," said Harry Campbell, a former Uber driver and author of "The Rideshare Guy" blog.

Uber Eats is expected to IPO in April, so it's not surprising that the company is looking to maximize profits. The food delivery service is the largest growing sector in Uber's portfolio.

Want to learn more about these new fees and the impact they will have on the restaurant industry? Host Paul Barron is breaking them down in the latest episode of The Barron Report above.