This quarter Uber’s advertising generated $350 million!
For some context, Pinterest’s only revenue stream is advertising, which generated $684 million in the same period.
Recently, Uber launched a new ad format for brands to connect with consumers throughout the ride or delivery process.
Uber is shooting to generate over a billion dollars of advertising revenue by 2024.
”We have a global audience of valuable, purchase-minded consumers who, as part of our core business, tell us where they want to go and what they want to get,”
Said Dr. Grether, General Manager, for Uber’s advertising division, further explained:
“Through our advertising division, we can help leading brands grow their relationships with consumers by connecting them at a moment when a customer is uniquely attentive. By tapping into our mobility media network, our pilot campaigns have surpassed expectations in terms of brand lift, engagement, and other campaign goals. We’re eager to continue working with our partners to identify best-in-class offerings – such as in-car tablet advertising – that will ensure they’re engaging with captive and engaged audiences.”