Uber Sets Sights On Diversification. Is the Ride-hailing Titan Poised To Become The Ultimate Taskmaster Of Future?
Portfolio Pulse from Nabaparna Bhattacharya
Uber Technologies, Inc. (NYSE:UBER) is reportedly developing a service similar to TaskRabbit, Inc. to help app users hire individuals for various tasks. The potential new feature, 'Chore,' was discovered within Uber's iPhone application by developer Steve Moser. The feature is still in the initial development phase and is not currently being tested. The move into the tasking domain could provide a significant growth avenue for Uber, which recently posted a 14% YoY growth to $9.23 billion in Q2, slightly missing the Street view.
September 09, 2023 | 9:58 pm
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Uber is developing a new service similar to TaskRabbit, potentially diversifying its revenue streams and providing a new growth avenue. This comes as the company recently posted a 14% YoY growth to $9.23 billion in Q2, slightly missing the Street view.
The development of a new service similar to TaskRabbit could potentially diversify Uber's revenue streams and provide a new growth avenue. This comes as the company recently posted a 14% YoY growth to $9.23 billion in Q2, slightly missing the Street view. The news is highly relevant to Uber and could be important for investors as it indicates potential future growth. The confidence in this analysis is high as the information is based on a reliable source.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100