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



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.