In the last 2.5 years since IPO, Uber stock is still down 25%. The market cap after billions of dollars of acquisitions is $75B. Doordash closed at $65B market cap today.
Did Uber’s strategy of jack of all trades master of none fail on itself? Uber has several business lines and trades just $10B over Doordash (which is just one of Uber’s businesses) yet significantly more unprofitable. The stock is sub-40. What does Uber have in store for the future?
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They can crush it if they figure out how to optimize their costs and operations.
They built their entire operation as a taxi company specifically designed to avoid the regulations traditional taxi companies must abide by. Over time, those regulations are getting applied to them. But unlike a regular taxi company, they have to shell out hundreds of millions to execs and software engineers.
Check out the uber rates in Seattle right now if you don’t believe me.
Courier got to earn at least 10-15$ per order as each takes half an hour or more. There is nothing around that.
This is unlike populous dense developing countries where the unit of economics are just better.
https://www.vox.com/2018/12/12/18134882/lyft-uber-ride-car-market-share
Now it’s 60-70%
https://secondmeasure.com/datapoints/rideshare-industry-overview/