Uber Eats is an American food ordering and delivery company launched by Uber in 2014. The food delivery portion of Uber’s business (Uber itself was valued at $75 billion when it went public in 2019) has been a “secret goldmine,” as described by Forbes. This section of the company went from pulling in a humble $0.6 billion in revenue in 2017, to $1.9 billion in 2019, to a whopping $4.8 billion in 2021.
Uber Eats, which operates in hundreds of cities across the globe, is among the leading food delivery companies in Europe, according to the report. The company saw its business expand significantly in this region during the pandemic, reporting a 59% jump in grocery deliveries on its platform in March and leading downloads of food delivery apps on the Apple apps tore in April 2020.
Glovo is a company founded in Barcelona in 2015. Originally just limited to Spain, the company became one of few Spanish businesses to gain an international market share, expanding its operations into Turkey, Egypt, Puerto Rico, and Uruguay in January 2020. After growing a name for itself, the business was purchased by Delivery Hero, a German company, in October 2020 for $272 million.
Now operating in 23 countries across the globe — including many in Africa, Asia, and Central America — the company holds a dominating share in Europe, according to the report. The company has not publicly disclosed its revenue but told Reuters it expected to see 100% year-over-year growth last year.
Just Eat is another leading food delivery company in Europe, serving 24 different countries in the region. The business was founded in 2001 in Denmark and is headquartered in the UK. The company is identified as a leading player in the European market but is engaged in a fierce rivalry with fellow food delivery company Deliveroo, which has plans to go public soon.
The company saw its losses grow from $105 million to $175 million in 2020, but also saw revenue surge 54% to nearly $2.9 billion during that time. “The group delivered a total of 588 million orders last year, 42% more than in 2019, with the share of delivery orders growing to 26% from 18%,” Barron’s reported. The company has also seen its share of orders in the key British market rise 88% in 2021 so far.
About the Author
Jemima is a journalist who enjoys reporting on business, particularly small business and entrepreneurship.