Business
Uber’s Now a Food Delivery Company—and It’s Still Losing Money – WIRED
The pandemic has slashed demand for rides and boosted orders for UberEats. Neither segment is profitable.
Since a company called UberCab took to the streets of San Francisco almost a decade ago, Uber has been many things: an app-powered black car service for self-described ballers; a slayer of taxi companies; a scandal-ridden stand-in for Silicon Valley ills; a vehicle to transfer VC-funded joyrides to the masses. When it announced its second-quarter earnings on Thursday, it became clear that the ride-hail company isnt quite a ride-hail company anymore. Ubers a delivery service nowand one thats stil…
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