Uber to Exit Food Delivery in Italian and Israeli Markets, Focus Shifts to Sustainable Growth
Portfolio Pulse from Nabaparna Bhattacharya
Uber Technologies plans to shut down its food delivery business in Italy and exit Israel due to insufficient market share. The move aligns with the company's focus on sustainable growth and CEO Dara Khosrowshahi's strategy to invest only in markets where Uber can be the largest or second largest player.

June 15, 2023 | 3:29 pm
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NEUTRAL IMPACT
Uber plans to exit food delivery in Italy and Israel due to insufficient market share, aligning with the company's focus on sustainable growth and investment in markets where it can be a top player.
Uber's decision to exit the food delivery business in Italy and Israel is a strategic move to focus on sustainable growth and invest in markets where it can be a top player. While this may have a short-term negative impact on revenue, it could lead to long-term benefits by concentrating resources on more profitable markets. The overall impact on the stock price is expected to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100