Uber Technologies Inc (NYSE:UBER) is a global provider of mobility and ride-sharing services.
Entrepreneurs Garrett Camp and Travis Kalanick launched a smartphone app in 2009. The smartphone application facilitated the online booking of a ride with just a tap.
The company was initially engaged in ride-hailing services but now provides navigation, road transportation, payment processing solutions, ride-sharing and food delivery services across the globe.
The mobility solutions provider operates under different geographic segments such as the Asia Pacific, Latin America, the United States, Canada and Europe.
The online company also operates under sub-platforms comprising Uber Ride, Uber Eats, Uber Drive, Restaurants, Freight, Transit, Uber Money, etc.
The San Francisco-based company focuses on developing technologies that connect the riders and drivers and facilitate movement.
Uber Technologies Inc operates under four reportable business segments:
• Advanced Technologies Group
The segment caters to mobility solutions by providing rides in various vehicles, such as cars, minibuses, taxis, motorbikes, and auto rickshaws. In 2020, the company acquired a Dubai-based ride-sharing company, Careem Inc.
The international company provides freight and logistics services to shippers across the globe. In addition, it provides small and medium-sized businesses and global businesses with an integrated platform to accelerate and automate logistics.
The company offers diversified delivery services through this segment, ranging from finding a local restaurant, ordering a meal, online delivery and pick-up options. In 2020, the ride-sharing company acquired a controlling interest in Cornershop Cayman, an online grocery platform in Mexico and Chile.
Advanced Technologies Group
The segment is engaged in the commercialization and development of ride-sharing technologies, autonomous vehicles, and Uber Elevate. The tech firm provides different technology solutions for its mobility drivers and riders.
The mobility solutions company completed the divesture of the Uber Eats India business to Zomato in January 2020.