We all love Uber.
It is easy to use.
You don’t need cash.
And with great popularity comes great revenue…
Let’s warm up with some of the hottest Uber revenue statistics:
Uber Stats and Facts (Editor’s Pick)
- Uber’s revenue in 2019 amounted to $14.15 billion.
- 14 million Uber trips are completed each day.
- In December 2018, Uber had 91 million monthly active platform consumers.
- Uber’s share of the US ride-hailing market stands at 70%.
- Uber’s self-driving unit is valued at more than $7 billion.
- Uber has partnered with more than 220,000 restaurants worldwide.
- Uber holds 25% of the delivery market share in the USA.
Uber’s is the go-to affordable peer-to-peer ridesharing service that millions of consumers use. And it is obvious why they love it.
It’s somewhere in the middle between expensive taxis and cheap public transport.
You get all the comfort of riding in a car without having to shell out a fortune.
And seeing how fascinated everyone is with ride-sharing, we’ve compiled a list of the most fascinating Uber statistics.
Let’s check them out!
How Does Uber Work?
What is Uber’s business model? After all, that is what brings home all the big bucks.
It is quite simple:
Consumers are either paying for a product or a service. In Uber’s case, you are paying for a service — a ride-hailing service.
Download the app and enter their destination.
You are matched with a driver.
Are the driver Uber employees?
Nope. They are contractors.
Anyway, the driver picks you up, takes you to your destination and after that, both you (the rider) and the driver have the option to rate each other (like in Nosedive, that Black Mirror episode).
That’s all there is to it — this multinational ride-hailing company offers ridesharing (yes, there is a difference), ride-hailing and delivering your favorite food, be it junk or healthy.
Uber Usage Statistics
Aside from the business model, let’s give a shout out to all the riders and drivers doing their share for the multibillion-dollar revenue of this ridesharing and ride-hailing company.
We’re starting strong:
How many trips does Uber do a day?
1. 14 million Uber trips are completed each day.
Well, according to Uber, they complete 14 million trips each day. This number is from December 2018, so it may have changed a bit in the meantime.
A graph by Todd W. Schneider meanwhile has compared the daily trips of Uber, Lyft and Taxis in New York. The result?
Uber wins by far, with 468,061 daily trips completed on October 31, 2019.
In comparison, taxis completed 243,641 trips the same day, while Lyft had 172,462.
2. Uber had 91 million monthly active platform consumers in December 2018.
According to the same facts and figures from Uber, as of December 2018, they had 91 million monthly active users.
Have you ever wondered about what the average Uber rider looks like?
Well, even if you haven’t, here is a description:
The average Uber user is an American male aged 16-24, who also lives in a suburban area.
A graph by the Global Web Index on the demographics of Uber users shows the following:
- 48% of riders are female and 52% are male,
- 37% are aged 16-24 and 28% are aged 25-34,
- 48% live in a suburban area and 46% live in an urban area.
There is no surprise that the younger generations enjoy Uber. Taxis and ridesharing services play a big part in millennial spending habits.
3. Uber operates in 63 countries and more than 700 cities worldwide.
You can use Uber to get a ride in more than 700 cities worldwide.
But where is Uber most popular?
There were 41.8 million Uber users from the United States of America in March 2018.
Brazil is next, with 17 million Uber users. Uber is also fairly popular in the United Kingdom (more specifically in London) and in India.
4. Uber has completed more than 10 billion trips worldwide.
The Uber statistics from 2018 show that the ride-hailing service reached an important milestone that year.
Namely, the company had completed 10 billion trips worldwide by June 2018 since it was founded in 2010.
What’s even more interesting is that Uber had completed 5 billion trips by May 2017. So, in just over a year, they had managed to double the number of trips completed worldwide.
5. Uber has 3.9 million drivers.
Now that we know how many people use the app for ride-hailing services, a new question arises:
How many Uber drivers are there?
Well, it turns out that almost 4 million people use the app as drivers.
In terms of driver ethnicity (as of 2019) in the USA:
- 44.7% Caucasian
- 33% Asian
- 9.3% African American
- 8.3% Hispanic or Latino
- 4% multiracial
An older graph about the demographics of the drivers shows that 86% are male and 14% are female.
Now, let’s take a look at all of the numbers by checking out the most relevant Uber revenue statistics.
6. Uber holds 70% of the ride-hailing market in the USA.
(Source: Second Measure)
Depending on the source, the market share that both Uber and its competitors hold varies.
Data by Second Measure suggests that the Uber market share in the USA amounted to 70%. The same source states that Uber’s rival Lyft holds 29% of the ride-hailing market.
Lyft have separately announced that their footprint is growing, stating that their market share stands at 35%. A source close to Uber meanwhile has reportedly stated that they hold around 70%.
(Image Source: Second Measure)
7. Uber’s revenue in 2019 amounted to $14.15 billion.
As reported by the company, Uber annual revenue reached $14.15 billion in 2019. This represents an increase of 26% compared to the previous year.
The Uber 2019 financial results further show that the company’s gross bookings rose to $65 billion. This is the amount received from the customers before all of the expenses have been paid out (including payouts to the drivers).
8. Uber had revenue of $3.81 billion in Q3 of 2019.
At the end of the third quarter of 2019, it was announced that Uber had a revenue of $3.81 billion. However, Uber losses were reported to be $1.16 billion for Q3 of 2019. In the same quarter the year before, Uber had a net loss of $986 million.
9. Uber’s revenue grew by 37% in Q4 of 2019.
(Source: Securities and Exchange Commission )
Things seem to be looking up for Uber finally. In the fourth quarter of 2019, their revenue grew by 37%. At this rate, they might have a larger revenue than expected.
Uber’s net revenue through the years:
- Uber revenue 2020 – $18.2 billion (projected)
- Uber revenue 2019 – $14,147 billion
- Uber revenue 2018: $11.270 billion
- Uber revenue 2017: $7.932 billion
- Uber revenue 2016: $3.845 billion
10. Uber had a 64 cent loss per share in February 2019.
If a company has negative EPS (earnings per share), this means it isn’t making enough profits.
The amount of profits is divided by the amount of shares. Seeing how Uber shares have a negative EPS, it means that they are currently losing money.
Perhaps the Uber earnings outlook can improve if the company takes some advice from Warren Buffet, who is considered the most successful investor according to stock market statistics.
11. Uber lost $1.1 billion in the fourth quarter of 2019.
So, in terms of Uber profit, things remained grim in 2019, with the company posting a $1.1-billion net loss in the last quarter of the year. On the upside, Uber has moved forward its profitability forecast to the last quarter of 2020, ahead of its original expectations of 2021.
12. Uber’s self-driving unit is valued at more than $7 billion.
(Image Source: Live Mint)
In 2019, Uber announced that they had received $1 billion in investments for their Advanced Technologies Group (ATG) division, which focuses on self-driving technology.
So, what’s the deal with this? Why is it important?
Well, for starters, the drivers represent the biggest expense for Uber. If they are eliminated from the equation, then this will reduce costs and increase profits. Sounds simple, right?
So, naturally, self-driving cars play a key role in Uber’s future. This can attract investors and improve their business model.
There is a lot of controversy with this, however — especially the part where these autonomous cars don’t stop for jaywalkers.
According to the official dossier published by the US National Safety Transportation Board (NTSB), the accident could have been avoided if the system were designed to detect pedestrians.
The app is what connects you with your ride. You can download it on iOS and Android.
(Image Source: Google Play)
It is fairly easy to download and install and millions of people are already using it.
Let’s see how many users are there.
13. There were 50 million active users of the Uber mobile app in 2016.
While the beta version was created in 2010, Uber officially launched their app in 2011 in San Francisco. By 2016, they had 50 million active monthly users.
14. Uber had 75 million active monthly users in 2017.
This was a turbulent and controversial year for Uber, marked by the #deleteUber movement when 400,000 users scrapped their accounts.
It all started with US President Donald Trump’s travel ban and the taxi protests at JFK airport. Uber’s dynamic pricing angered consumers, who accused the ride-sharing service of taking advantage of the situation to make profits.
Demand pricing, or surge pricing, is when a company increases the price of the goods and services if demand increases.
15. Uber had 95 million active monthly users in 2018.
Uber’s official website states that they had 91 million active users as of December 2018. However, according to Statista, 95 million people used the Uber app actively on a monthly basis.
16. Uber had 110 million active monthly users in 2019.
It seems that active monthly users growth remained steady in 2019. It would be interesting to see if the trend will continue in the new decade as well.
What is UberEats?
This online food ordering platform was launched by Uber in 2014, again starting in San Francisco, California.
So, how does Uber Eats work?
Just like the ride-hailing service, it’s pretty straightforward:
Create an account.
Browse all of the restaurants partnered with Uber.
Place an order and you pay with your card.
Then you track your order on the app eagerly awaiting for your delicious food to arrive!
[Image Source: Engagedget]
Now, let’s check out some interesting stats regarding Uber’s food delivery service!
17. Uber has partnered with more than 220,000 restaurants worldwide.
(Source: SP Global)
Uber has a parnership with more than 220,000 restaurants in more than 500 cities worldwide.
You can use the app to place an order with:
- Jack in the Box
(And many more.)
Uber also allows you to add your location and look at the ‘open restaurants near me’ based on the type of food you are looking for.
18. Uber holds 25% of the delivery market in the USA.
According to the 2019 Edison report, DoorDash had the largest share of the delivery market — 35%. The year before, their share amounted to 27%.
In 2018, Uber’s share of the food delivery market was 29%, dipping to 25% in September 2019.
Grubhub held 30% in 2018 and 23% in 2019.
(Image Source: Edison)
19. When ordering food from Uber, consumers spend $27 on average per order.
Orders placed on the Caviar food ordering platform have the highest average cost of $42.
DoorDash has the second most expensive orders placed, averaging at $32.
In comparison, orders placed on Uber Eats are the cheapest — costing consumers $27 on average.
And if there is anything we’ve learned from the US personal finance statistics, it is that Americans don’t have a lot of savings, so they need the cheapest option available.
20. Uber delivery drivers make around $8 – $12 per hour.
(Source: Ridesharing Driver)
After all of the expenses involved in delivering have been deducted, the drivers delivering your food via the Uber platform make somewhere between $8 and $12 per hour.
So, how to become an Uber Eats driver?
These are the requirements:
- You must meet the minimum age required to drive in your city,
- You need a license (active for at least 1 year), registration and insurance,
- Your car or scooter needs to meet the vehicle requirements.
Who are Uber’s Competitors?
As Uber can be considered a jack of all trades, the company has various competitors.
We will group them by industry:
Ridesharing/ride-hailing Uber competitors:
While Lyft only holds around ⅓ of the ride-hailing market, it is still considered one of Uber’s main competitors.
List of Uber competitors in personal mobility:
Both Lyft and Uber are offering personal mobility alternatives. Lyft acquired Motivate, one of the largest bike-sharing companies, and Uber also offers bike-sharing.
Food ordering platforms:
GrubHub and DoorDash are constantly competing to be the number one food ordering platform in the USA. For now, Uber is only second best.
Driverless car competitors:
- Cruise Automation
Waymo is a self-driving car project started by Google in 2009. As of 2019, they have been allowed to transport passengers in California. Here’s hoping that Uber will catch up.
When it comes to ride-hailing, Lyft is Uber’s main competitor. Lyft had 23 million users as of January 2018. And as of September 2018, Lyft had also reached a major milestone — 1 billion rides.
While Lyft still hasn’t completed as many rides as Uber, they are quickly catching up. In 2018, Lyft’s revenue reached $2.16 billion, which was more than double when compared to the previous year. And according to the Uber revenue statistics, Uber’s revenue increased by only 43% in 2018 when compared to the year before.
As for food ordering, DoorDash and GrubHub seem to be Uber’s main competitors. While Uber delivers to more cities worldwide, DoorDash is only available in the USA and Canada. Nonetheless, DoorDash is rapidly growing and increasing their revenue.
It is hard to say which one is cheaper, as the price varies depending on the location, taxes, delivery fee and service fee (applicable for DoorDash only).
Lastly, according to the official Uber statistics from their websites, we can say that the company has more employees and greater scope. So, we can assume that Uber has more gigs for drivers compared to DoorDash, though supposedly DoorDash drivers earn more money.
When Uber was first launched, the company revolutionized ride-hailing as we know it. Uber changed the market so much that there is now a new term for the process — uberization.
Alas, all good things must come to an end. Uber now has many competitors as well as a history full of controversies that have prompted users to delete the app for good.
The main thing is that Uber is aware that they need to revolutionize a new industry. From being one of the most prominent transportation network companies, Uber is now moving on to self-driving vehicles.
Given that drivers are their biggest expense, Uber is working on cutting down those costs and getting investors to help them dominate this new market.
Is autonomous car technology the future of food ordering platforms and ridesharing? We’ll find out soon.
What we can make out of these Uber revenue statistics though is that the company doesn’t seem to shy away from challenges.
See you around on SpendMeNot.com, everyone!