Uber Eats Revenue

In 2022 Uber Eats reached almost $11 billion in revenue, compared to over $8.3 billion in revenue in 2021 and $3.9 billion in revenue in 2020.

Uber Eats has become a key segment within the Uber business model.

uber-revenue — In 2021, Uber Eats passed $8.3 billion in revenue, compared to $3.9 billion in revenue in 2020.

In addition, the Uber Eats (delivery) segment enabled Uber to survive throughout the pandemic, as the platform’s core (mobility) was stuck.

Today Uber’s core segment (mobility) is again the main one for Uber. Yet…

uber-vs-uber-eats — In 2021, driven by the Covid-19 pandemic, Uber Eats accelerated as the mobility platform slowed down. However, in 2022, the mobility platform is again the leading segment, which generated $14 billion, compared to $10.9 billion from Uber Eats.

If we look at gross bookings between Uber and Uber Eats post-pandemic, they are on par.

Uber vs. Uber Eats Gross Bookings — After the pandemic hit, the Uber core platform (mobility) slew down substantially, and its volume in gross bookings was replaced by the incredible growth of the delivery business (Uber Eats). However, by the end of 2022, the mobility platform’s volume was larger than the volume of gross bookings on the delivery platform. Indeed, in Q4 2022, Uber mobility reported a volume of $14.89 billion, compared to the $13.31 billion in gross bookings for the delivery platform.

The main reason why Uber’s mobility generates more revenue compared to Uber Eats is the fact that it has a higher take rate.

uber-vs-uber-eats-take-rate — In 2022, Uber mobility took 27% of each booking on the platform. At the same time, Uber Eats took 20% of each booking on the delivery platform. The take rate varies according to demand and supply but also market dynamics. In short, in periods of increased competition, the service might charge lower take rates to keep up with it. In 2022, Uber pushed on efficiency, thus raising its take rates, to move toward profitability.

The take rate fluctuates over the years, and it depends upon various factors, such as the market structure, the market’s demand and supply, and the state of competition.

As you might imagine, during the pandemic, with the delivery business, which had become quite hot, many players started to invest more and more to gain market shares, thus driving the take rate for Uber Eats down.

One example is how Uber Eats had to keep gaining momentum with other competitors (like DoorDash) on the market.