Uber targets untapped $1 trillion market with grocery delivery
Uber has a massive untapped customer base for grocery delivery, with three in four riders never having ordered groceries through the app.
The company’s advertising business has surpassed a $2 billion annual run rate, growing over 50% year-over-year, with higher margins than its delivery operations.
Uber’s grocery and retail delivery segment has been overlooked by investors, who have focused on the company’s autonomous vehicle efforts and partnership with Waymo.