In 2024, Uber Inc. generated approximately ***** billion U.S. dollars in revenues in its 'Delivery' segment, which includes Uber Eats and Uber Direct. This figure constitutes an increase compared to the previous year's revenue of **** billion dollars. The success story When the ride-hailing company, Uber Inc., launched its food delivery spinoff ‘UberEats’ in the United States in 2014, few would have imagined it would go on to dominate the online food delivery market, overtaking then-market leader Grubhub. As of March 2024, UberEats controlled*** percent of the online food delivery market in the United States, while Grubhub held an eight percent market share. A global market leader? Although UberEats only launched outside the United States in 2016, the company is today the leading food delivery operator globally, generating more revenues than industry heavyweights Delivery Hero, DoorDash, and Just Eat Takeaway. With more than ** million app downloads, UberEats also ranked as the second most downloaded food delivery app worldwide in 2024 after Zepto.

Uber's delivery segment, which mainly refers to Uber Eats operations, witnessed a significant increase in gross bookings worldwide in the last couple of years. During the fourth quarter of 2024, gross bookings on Uber Eats platforms amounted to more than 20 billion U.S. dollars globally, an increase from approximately 13.9 billion dollars in the first quarter of 2022.

Global leader

In 2023, Uber Eats sat atop the global food delivery market with more than 12 billion U.S. dollars in worldwide revenues, taking over global titans such as Delivery Hero and Just Eat Takeaway.com. Uber Eats is also gaining significant ground in the race to profitability, being the first food delivery aggregator to turn a profit in 2023.

DoorDash catching up Since its acquisition of Wolt in May 2022, DoorDash is slowly but surely catching up with Uber Eats globally. Since the fourth quarter of 2022, quarterly gross bookings on DoorDash marketplaces surpassed those of Uber Eats by a small margin. Juxtaposed next to each other, the quarterly GOVs of the two U.S.-based food delivery operators are a perfect reflection of their cut-throat, head-to-head competition.

In 2024, DoorDash registered around *** million U.S. dollars in net income, marking the first time the company achieves a positive net income figure. The race to profitability DoorDash is among the e-commerce companies that achieved tremendous success in recent years. The global appeal of online food delivery services and the rise of third-party apps like Uber Eats, Deliveroo, and DoorDash led to spike in consumer demand, which flooded the market with funding, but also overcrowded the landscape with many operators competing for consumer reach. In 2023, the top food delivery companies around the globe shifted their focus towards scaling operations and achieving long-awaited profitability. Minimizing their operating losses is a first step towards that goal. DoorDash in Europe? That must be Wolt In June 2022, DoorDash completed its acquisition of Finland's Wolt for a deal that made it to the list of top e-commerce start-up acquisitions. In a bid to expand and consolidate its global reach, the acquisition of Wolt gave DoorDash access to multiple overseas markets and contributed to a significant increase in the total dollar value of orders made on its marketplaces. In 2024, that figure amounted to a stunning ** billion U.S. dollars.

Just Eat may be the best example of perfect market fit in the wrong country. Launched in Denmark in 2001, the team slowly realised they had built a great service for local businesses, but in a...

Uber reported a net income of nearly ten billion U.S. dollars in 2024. This is the second consecutive year of positive profit figures for Uber. The company reported losses consistently between 2016 and 2022, except in 2018 when the company reported profits of just under one billion U.S. billion dollars.

Deliveroo is a food delivery company that serves as an intermediary between customers and restaurants. Using the app, customers place (and pay for) an order, which is then conveyed to the...