Why Uber's next frontier is grocery
Ride-sharing company Uber's restaurant delivery business is doing so much business that the company's CEO says grocery delivery is next.
According to Yahoo Finance, Uber CEO Dara Khosrowshahi said given the success in the delivery of food, the next logical step is to enter the grocery space.
“With Eats, we’re getting into the business of moving food around. I think that this product of delivering great quality food to you at home in 30 minutes or less is magical and is going to move into grocery in a way that’s fundamental and a lot more people are going to be eating at home…you can absolutely see grocery as being an adjacency,” he said at Vanity Fair’s New Establishment Summit 2018.
Uber’s restaurant delivery business “Eats” hit $6 billion in bookings earlier this year, growing over 200%, quickly becoming a crown jewel for the ride-sharing company.
Earlier this year, Uber had teamed up with Walmart to test out grocery delivery. The initiative, originally billed as an ambitious move to take on Amazon, was quietly scrapped in May after a short three months.