Uber unveiled its S-1 financials document as part of its impending IPO today. While most of the headline-grabbing numbers were around the company’s potential $100 billion valuation and the $1.8 billion in losses in 2018, we at The Spoon are more interested in what the document says about Uber Eats . So we pulled some tasty nuggets from the prospectus about the food delivery service for you (questions are ours, italics are direct quotes):
Number of people using the Uber Eats
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.
Where is Uber Eats available?
Uber plans to expand Uber Eats from 500 cities to the 700 cities where it currently offers personal mobility services.
How much revenue is Uber Eats generating?
Uber Eats grew to $2.6 billion in Gross Bookings for the quarter ended December 31, 2018, nearly three years following the launch of the Uber Eats app, which we believe makes our Uber Eats offering the largest meal delivery platform in the world outside of China.
Later on in the filing, Uber says that Uber Eats did $7.9 billion in gross booking for the year ending Dec. 31, 2018.
Average delivery time
For the quarter ended December 31, 2018, the average delivery time was approximately 30 minutes.
(Ed. note: time to fire up those delivery drones!)
The halo effect between ridesharing and food delivery
…Uber Eats attracts new consumers to our network – in the quarter ended December 31, 2018, 50% of first-time Uber Eats consumers were new to our platform. Additionally, in the quarter ended December 31, 2018, consumers who used both Personal Mobility and Uber Eats had 11.5 Trips per month on average, compared to 4.9 Trips per month on average for consumers who used a single offering in cities where both Personal Mobility and Uber Eats were offered.
Uber Eats expansion plans
We also plan to explore expanding into new food verticals, such as grocery, and different types of food providers, such as cloud kitchens, to our Uber Eats offering.
With its growth, Uber Eats’ successes are a major part of Uber’s IPO story. But the company faces stiff (and well funded) competition from the likes of GrubHub, DoorDash, Postmates and more (and that’s just in the U.S.). Now we have to wait and see how tasty the street thinks Uber Eats actually is.