Uber Archives - eResearch

Instacart Drops Valuation Ahead of IPO but Reports Positive Profits in H1/2023

August 27, 2023 Chris Thompson

Instacart, a prominent figure in the online grocery delivery landscape, has unveiled its intentions to enter the public market. Instacart’s financial health has shown a significant improvement in recent years. Total revenue hit $2.55 billion in 2022 up from $1.83 million in 2021, an increase of 39%. The company reported a profit of $428 million in 2022, up from a net loss of $73 million in 2021. [more]

Bardown – Uber into the Top Shelf of the Liquor Cabinet with Drizzly Acquisition

February 20, 2021 Michael Lacasse

Propelled by surging eCommerce, Drizly cashes in on shuttered bars with sale to Uber. It is the second major deal in the last year for Uber after buying Postmates for $2.65 billion in 2020. [more]

DoorDash the Largest Food Delivery Company in the U.S. to IPO on the NYSE

November 15, 2020 Jay Yi

Last week, DoorDash, a U.S. food delivery company, filed its Form S-1 Prospectus with plans fora NYSE listing under the ticker “DASH”. Earlier this year, DoorDash raised $400 million, on a $16B valuation. [more]

Uber Acquires Postmates for $2.7B and Launches new On-Demand Grocery Services in Canada & Latin America

July 7, 2020 Jay Yi

This week, Uber announced a US$2.65 billion acquisition of Postmates, an on-demand food and grocery delivery company with operations in 4,200 U.S. cities. A day later, Uber announced the launch of its on-demand grocery delivery service in partnership with Cornershop, a Chile-based online grocery delivery company that Uber has held a majority stake in since last year. [more]

How Covid-19 is Affecting Shareholder Activism: Management and Boards are the Targets, but the Worst is Yet to Come

July 3, 2020 Caitlin Cheadle

Recent low stock prices enabled activist investors to quietly buy up shares, leaving many companies vulnerable to becoming the target of shareholder activism in the future. Hugo Boss, easyJet, Tesla and Uber have all been under pressure from shareholders this year. [more]

e-Scooter and Micro-Mobility Industry Update – Q1/2020

June 4, 2020 Jay Yi

Recent news on the micro-mobility industry: Uber sells bike & scooter business to Lime; Lime lays off most Canadian employees; Gotcha experiences increase in demand and launches Gotcha TO GO service, an alternative in food delivery. [more]

Uber and Lyft Report Q1/2020 Financials as California Sues for Violations of Bill 5

May 8, 2020 Jay Yi

Uber’s stock price increased after reporting a $2.9B loss and withdrawing guidance. Lyft’s stock price was also higher after reporting a $398M loss but more rides. However, California’s attorney general sued both for violating the recently passed state law regarding gig economy workers. [more]

Uber and Lyft 2019 Performance and 2020 Guidance

February 11, 2020 Jay Yi

Uber and Lyft, the two largest ride-sharing companies competing to be the leader in the global markets, just released their Q4/2019 earnings and guidance for 2020. In 2019, Uber had quarterly net loss of US$1.1B and annual loss of US$8.5B; Lyft had quarterly net loss of US$356M and annual loss of US$2.6B. Both plan to be EBITDA positive by the end of 2020. [more]

Money Losing IPO’s Hit New Highs or Is It Lows?

January 15, 2020 Chris Thompson

Unprofitable companies are IPO’ing and raising cash at a rate not seen with the late 1990’s, before Tech Bubble burst. [more]

e-Scooter Update – State/Provincial Government Review Guidelines

January 5, 2020 Jay Yi

Industry expected to reach US$553 million by 2025. Ontario starts a 5-year pilot project as Calgary reviews its completed pilot, while in New York, a bill to legalize e-scooters is vetoed by the governor due to safety concerns. [more]