Uber Technologies Inc UBER

And now .

[greendaze]

Uber Technologies, Inc. UBER is launching grocery-delivery services in some Latin American and Canadian cities as demand for grocery deliveries surges amid the coronavirus pandemic. The company has witnessed a 176% rise in grocery orders since February.

Uber has partnered with Cornershop, a Chilean grocery-delivery startup, for the services. We remind investors that last year Uber had entered into an agreement to acquire a majority stake in Cornershop. The transaction is expected to close in a few days upon regulatory approval in Chile. The grocery-delivery service marks Uber’s first product integration with Cornershop.

The service, expected to be rolled out in the United States later this month, can be availed of through the Uber and Uber Eats apps. Orders placed on the apps will be facilitated and delivered by Cornershop team members. Similar to other services on Uber, customers can track the status of their orders.

After initially launching the services in some cities in Brazil, Chile, Colombia, Peru and Canada, Uber plans to extend the same to the rest of the world later this year.

While coronavirus has led to a downturn in Uber’s core ride-hailing business (first-quarter gross bookings declined 5% year over year for the first time ever), the same is causing a surge in its food-delivery business — Uber Eats — as people prefer to stay home and order food online. Gross bookings from Eats augmented 52% year over year in the first quarter of 2020, while revenues from the unit jumped 53%. Moreover, the company revealed that second-quarter bookings on Uber Eats have soared more than 100% year over year.

[NineLives]

oh my, they must be stuggling. And are any of these endeavours profitable. It has been estimated that if all resturants relied on delivery apps from these major players most would be bankrupt in a year... look it up. There is a backlash coming which means margins will be even smaller. Uber ride kicked out of London, fighting Canada, fighting Calafornia. Postmates gig workers not happy with this

[greendaze]

I'm well versed as to Uber's foot print . If it's as bad as you wish , why do you care ? Regardless , did you miss out on the continuing rise  at v.fd ? I didn't . What do you think about Blackrock financial charging into this sector ? 

[greendaze]

15.49 % gain today 9L . A ha ha . Another taxi play ? Look again . 

[NineLives]

I honesty wish you the best luck in the world.  I hope lofty expectations don't ruin you. If you can make money off these dogs then I salute you.

[greendaze]

Same , same . It's up again today . I wish you well , as well . You don't like dogs ? I like dogs . I don't like under performance. The dogs I know and love never underperform . LLAP

[NineLives]

it’s July 10th your FD numbers are due today. If the revenue/earnings is poor then I would expect them to be released after the market close on a sweltering hot Ontario afternoon! When nobody is around !

[greendaze]

Really ? Does august 27-30 ring a bell ? 

[NineLives]

You’ve got to be joking, they pushed them back even further ??

[greendaze]

Memo to self : never argue with a brick .