Uber kickstarted the evolution of the taxi market in the early 2010s, when it launched an app which easily connected drivers with riders. In California where the app launched, ordering a cab was a nightmare, so much so that co-founder Garrett Camp had established his own fleet of black cabs to pick him up from bars and clubs.
Camp recognised the value of this service, which was less temperamental than waiting on the sidewalk for a cab or waiting more than an hour for someone to pick them up. UberCab was founded in 2009 and Travis Kalanick joined shortly afterwards. Kalanick become the CEO shortly afterwards in December 2010, a position he held until 2017.
During Kalanick’s tenure as CEO, Uber became the brand most people associate with ride hailing. It took the US by storm and quickly expanded into Europe, Asia and South America. Kalanick also oversaw Uber launch Eats, Freight and its autonomous vehicle unit, as he attempted to expand Uber’s reach to all parts of the transportation market.
Kalanick’s tenure brought lots of growth, but it also brought controversy. Uber’s entry into countries and states often came before agreements had been made with those in power, which led to penalties and bans in some areas of the world. Allegations of sexual harassment and bullying in the workplace led to Kalanick resigning in 2017 and being replaced by Expedia CEO Dara Khosrowshahi.
Since 2017, Uber has taken its foot off the gas, selling its stake in India and leaving several European countries. It also sold its autonomous vehicle unit to Aurora, in return for a significant stake in the startup. It has cleaned up its image, although several countries are currently looking into whether Uber drivers should be considered employees. The UK was one of the first countries to recognise them as such.
The coronavirus pandemic hit Uber’s ride hailing business hard, although it did bounce back in Q4 2020 to pre-pandemic levels. Uber Eats became the main business during this time, with over 200 percent increase in revenue year-on-year.
We have collected key statistics on Uber. Read on below to find out more.
Uber key statistics
- Uber generated $11.1 billion revenue in 2020, a 21 percent decrease, due to the coronavirus pandemic shutting down its ride-hailing operations for most of the year
- While Uber’s ride hailing segment contracted by 24 percent, Uber Eats increased revenues by over 200 percent in 2020
- 93 million people used Uber in Q4 2020, below its peak of 111 million active users in 2019
- Uber drivers completed 4.98 billion trips in 2020, a 27 percent decrease from the 6.9 billion trips in 2019
|Launch date||May 2010|
|HQ||San Francisco, California|
|People||Dara Khosrowshahi (CEO), Travis Kalanick (co-founder), Garrett Camp (co-founder)|
|Business type||Public (NYSE: UBER)|
Uber annual revenue
Uber revenue by segment
|2018||$8.9 billion||$0.7 billion||$0.3 billion||$0.1 billion|
|2019||$10.4 billion||$1.3 billion||$0.7 billion||$1.3 billion|
|2020||$7.9 billion||$4.8 billion||$0.9 billion||$1.3 billion|
Note: Uber sold its Advanced Technologies (ATG) to Aurora in 2021.
Uber revenue by region
|Year||US & Canada||LATAM||EMEA||APAC|
|2018||$6.4 billion||$1.9 billion||$1.7 billion||$1 billion|
|2019||$8.5 billion||$1.9 billion||$2.2 billion||$1.2 billion|
|2020||$6.8 billion||$1.3 billion||$1.8 billion||$1.5 billion|
Note: Parentheses indicate loss.
Uber gross bookings
|2019 (IPO)||$82 billion|
Source: Macrotrends, Uber
Uber funding (total)
Uber vs Lyft: market share
How many people drive for Uber?
In 2020, Uber had over five million drivers worldwide
How many trips per day are completed by Uber?
In 2020, Uber completed on average 18.7 million trips per day
How many cities is Uber available in?
Uber is available in over 900 cities globally
What ride-hailing services does Uber have stakes in?
When Uber leaves a region, it usually sells its service to the largest competitor in return for a stake in the company. In Russia, it owns a 37 percent stake in Yandex Taxi and a 15 percent stake in China’s Didi. It also has a 19 percent stake in Grab, which is popular in Southeast Asia.
How much does the average Uber driver earn in the US?
US Uber drivers’ median hourly rate can be as low as $8.55 (The Guardian)