Uber is the leading popular ridesharing application worldwide. The company provides its services in over 10,000 cities across 71 countries.
It became popular following its establishment in 2009, hitting $1 billion in annualized gross bookings in 16 months or less.
Today, 93 million clients utilize the Uber platform. 3.5 million drivers serve the developing client base. Uber has planned $26.61 billion in gross bookings from its ride-hailing business in 2020.
Launching of the Uber Application
Uber started the evolution of the taxi market in early 2010 when it launched an app that easily connected drivers with riders. In California, where the mobile application was launched, ordering a cab was a very difficult task.
It was so tough that even the app’s co-founder Garrett Camp had established his own fleet of black cabs so that they can pick him up from clubs and bars.
Camp, therefore, recognized the value of this service, which is less than a little more than waiting on the street or waiting for more than one hour for someone to pick up.
Uber Cab was set up in 2009 and Travis Kalanick joined after a short time. Kalanick became CEO soon after in December 2010, and he held the position until 2017.
During Kalanick’s tenure as CEO, Uber became a very much popular brand that people started associating with it. The ride-hailing app took the United States by storm and quickly expanded into Europe, Asia, and South America.
During Kalanick, Uber launched Eats, Cargo, and its independent vehicle unit, as he endeavoured to extend Uber’s scope to all parts of the transportation market.
Although during Kalanick’s tenure, Uber became very popular but at the same time, during his tenure, the company went into controversy.
Uber’s entrance into nations and states frequently preceded agreements and has been made with those in power, all of which led to penalties and bans in some parts of the world.
In addition, there were a few allegations of sexual harassment and bullying in the workplace, leading to Kalanick resigning in 2017 and being replaced by Expedia Chief Dara Khosrowshahi.
Uber’s Entry into India
Starting around 2017, Uber has taken its foot off the gas, selling its stake in India and leaving a few European nations. The company also sold its autonomous vehicle unit to Aurora, in return for a significant stake in the start-up.
The transportation company has now cleaned up its image, although some countries are looking into whether Uber’s drivers should be called employees or not. However, the UK was one of the first countries that recognized them as employees.
Bounce Back from The Covid-19 Pandemic
As the Coronavirus Pandemic affected businesses all over the world, the transportation company suffered a huge business loss. However, the company bounced back in Q4 2020 to pre-pandemic levels.
During this time, Uber’s online food ordering and delivery platform, “Uber Eat” became the main business with north of 200% increment in income year-on-year.
Here Are Some of The Key Statistics of Uber
Uber’s Key Statistics
Uber in the year 2021 generated $17.4 billion in revenue, which comes to a 56% increase year-over-year.
While before the Coronavirus Pandemic, Uber generated revenue from mobility, in 2021 it generated more revenue from its delivery business.
Today 118 million people use Uber or Uber Eats once a month, which results in a 26% increase year-on-year.
In 2021, Uber drivers completed 6.3 billion trips, which is slightly below the 6.9 billion trips completed in 2019.
Uber Company’s Overview
Launching Date: Uber was launched in May 2010.
Head Quarters: Uber has its headquarters in San Francisco, California.
CEO: At present Dara Khosrowshahi is the CEO of Uber.
Co-Founders: Travis Kalanick and Garrett Camp are co-founders of Uber INC.
Business Type: Public (NYSE: Uber)
Industry Type: Transportation company or Ride Hailing application
Uber in the year 2021 generated $17.4 billion, which is a 56% increase year-on-year and better than its 2019 figures. In the year 2020, Uber’s revenue declined by 21% due to the Covid-19 Pandemic.
Quarterly Revenue of Uber from the Year 2017 to 2022 in Million Dollars
Annual Revenue of Uber from the Year 2017 to 2021
Revenue of Uber by Segment
In the year 2021, Uber’s delivery segment generated the most revenue which was when mobility was yet experiencing lockdown limitations in the primary portion of 2021.
Revenue of Uber by Segment from 2018 to 2021 in Billion Dollars
Revenue of Uber’s Mobility and Delivery
Uber’s revenue is split evenly between mobility and delivery, however, during the Coronavirus pandemic, the delivery side of the company played an outsized role in keeping the company afloat.
Revenue of Uber’s Mobility and Delivery Segment from 2017 to 2022 in Billion Dollars
Revenue of Uber by Region
The US of America and Canada are still today answerable for most of Uber’s income, with $10 billion of the $17.4 billion made in 2021 coming from these two countries only.
Annual Revenue of Uber by Segment from 2018 to 2021 in Billion Dollars
Uber’s Business Profit
Uber had seen only one profitable year, in 2018. And it faced severe business loss in the last three years, which comes to $15.6 billion. However, it cut its losses to $400 million in the year 2021.
Annual Profit/loss of Uber from 2017 to 2021 in Billion Dollars
Gross Bookings of Uber
Uber produced $90 billion in gross appointments in 2021, a 57% expansion year-on-year.
Annual Gross Booking of Uber from 2017 to 2021 in Billion Dollars
Uber Application Users
As per the sources, in the year 2021, 118 million people used the Uber application, which is an increase of 26% on 2020 figures and 6% on 2019 figures.
Uber Annual Users from 2017 to 2021 in Millions
Trips Taken by Uber
In the year 2021, Uber drivers completed 6.3 billion trips, which concludes to 26% increase year-on-year. More trips were completed in 2019 as compared to 2021 when Uber drivers completed 6.9 billion rides.
Annual Trips Taken by Uber from 2017 to 2021 in Billions
Funds Received by Uber
Uber from 2011 to 2019 received $20.9 billion in funding from a laundry list of investors, which also includes Alphabet, Benchmark, and SoftBank Ventures.
Cumulative funding to Uber from 2014 to 2019 in Billion Dollars
Market Share of Uber vs Market Share of Lyft
1) How many drivers are associated with or working with Uber?
As of 2021, the company had over five million drivers worldwide.
2) How many trips do Uber drivers complete in a day?
As of 2021, Uber drivers have completed on average 17.4 million trips per day.
3) In how many cities today Uber is available?
The transportation company is available in over 900 cities all over the world.
4) In which ride-sharing service does Uber have stakes?
When Uber moves out of a region, it often sells its services to its largest competitor as a trade-off for a worth stake in the business. In Russia, it has a 37% stake in Yandex Taxi and a 15% stake in China’s Didi. It also has a 19% stake in Grab, which is popular in Southeast Asia.