Uber's delivery service is now bigger than its rides business

Revenue from Eats reached $1.2 billion in the second quarter, double a year earlier, the company reported Thursday. Meanwhile, Uber's Rides business revenue plummeted 67%, to $790 million. Similarly, gross bookings for Rides declined 73% over that period, while they grew 113% for Eats."Our delivery business alone is now as big as our Rides business was when I joined the company in 2017," said CEO Dara Khosrowshahi on a call to discuss the results.

The company cut roughly 25% of its workforce, or 6,700 employees, as it grappled with pressure from the pandemic. Read MoreUber's revenue declined 29% in the second quarter, to $2.2 billion, compared to the same period last year. Last quarter, it lost a staggering $2.9 billion, posting revenue of $3.5 billion, a 14% increase from a year earlier.Uber, which started as a ride-hailing service, has long dabbled in other categories, including meal deliveries with its Uber Eats service.

Really interesting

Really now? So why does food die in my restaurant window because they can't find a Uber eats person nearby I smell bullshit!

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Uber, Lyft sued again in California over driver classification - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Guy on left is hotter. I forgive his company 😂 Californistan will drive all businesses out of their state by the time they're done. It’s multiple companies doordash postmates too !
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