Uber Technologies Stock Price, News & Analysis

Uber Canada has partnered with Tokyo Smoke to launch an innovative online ordering system for cannabis in Ontario. Through the Uber Eats app, consumers can now easily order Tokyo Smoke's cannabis products and pick them up at physical stores. This initiative is a first for a delivery network company, aiming to enhance convenience and safety in cannabis purchasing. Orders are fulfilled within an hour, and protocols ensure compliance with age regulations. This collaboration is expected to combat the illegal market and improve road safety among cannabis consumers.

Uber Technologies has launched Uber One, a new membership program offering special pricing, priority service, and exclusive perks across rides and deliveries. For $9.99 monthly or $99.99 annually, members receive 5% discounts on eligible rides and delivery orders, $0 delivery fees on qualifying purchases, and access to premium support. A special promotion offers the annual plan at $49.99 until November 29. Uber One aims to enhance everyday experiences for customers while navigating daily services.

Uber Freight has acquired Transplace from TPG Capital for approximately $2.25 billion in an all-cash deal. This acquisition aims to integrate Uber Freight's network with Transplace's technology to create a leading logistics platform. The deal is partially financed by $550 million from Abu Dhabi Growth Fund, D1 Capital, and GCM Grosvenor. Together, they will manage $16 billion in freight and provide greater efficiencies and cost reductions for shippers and carriers across North America and Europe.

Uber Technologies will hold its fourth quarter 2021 financial results conference call on February 9, 2022, at 2:00 p.m. PT. The company will also host an Investor Day on February 10, 2022, starting at 8 a.m. PT in San Francisco. Both events will be accessible via a live webcast on Uber's Investor Relations website. The company emphasizes its ongoing commitment to transparency through its website and other communication channels.

Serve Robotics has partnered with Uber Technologies (NYSE: UBER) to introduce an on-demand robotic delivery service for Uber Eats customers in Los Angeles, set to launch early next year. Founded in 2017 as a robotics division of Postmates, Serve aims to enhance affordable, sustainable delivery through its autonomous technology. The CEO of Serve expressed optimism about the partnership, highlighting its potential to improve convenience for merchants and customers. The collaboration seeks to offer a safe, reliable, and environmentally friendly delivery option.

Uber Technologies reported record Gross Bookings of $23.1 billion for Q3 2021, a 57% YoY increase, despite a net loss of $2.4 billion, impacted by a $2.0 billion revaluation of equity investments. Revenue surged 72% YoY to $4.8 billion, bolstered by a $123 million accrual release related to UK driver classification claims. Adjusted EBITDA reached $8 million, marking its first profitable quarter as a public company. Mobility and Delivery segments also showed robust growth, with Mobility Gross Bookings up 67% YoY and Delivery up 50% YoY. Unrestricted cash stood at $6.5 billion.

Uber Technologies announced a partnership with Bed Bath & Beyond and buybuy BABY to introduce a new baby and kids vertical in the Uber Eats app. This feature enables parents to order essential items for their families with ease. Starting November 1, 2021, products from nearly 120 buybuy BABY and over 750 Bed Bath & Beyond locations will be available for on-demand delivery. To celebrate, Uber is offering $20 off orders of $60 or more until November 11. Additionally, Uber is donating $200,000 to Baby2Baby, a nonprofit that provides essential items to children in need.

Hertz and Uber are launching a partnership to enhance electric vehicle (EV) availability in the U.S. by offering up to 50,000 Tesla rentals for Uber drivers by 2023. Starting Nov. 1, rentals will be available in major cities including Los Angeles and San Francisco, with plans for nationwide expansion. This collaboration supports Uber's goal of zero-emissions mobility and Hertz's commitment to electrification. Drivers renting Teslas will benefit from financial incentives and access to charging networks. The program could expand to 150,000 vehicles in the next three years, though external factors may affect plans.