Reports has emerged citing Uber’s entry in the Online Ads space. According to Techcrunch, Uber will become an ad platform, selling space inside its Eats app to restaurants hoping to lure in more food delivery orders.
Though it’s not yet clear how the ads will work or look, they may help to entice restaurants who participate in Uber Eats looking to boost sales. This is different from what Uber gets by taking a cut of orders booked through the platform.
This is obviously a new way that the ride-hailing giant is seeking to increase its revenues. It really needs to show stakeholders that it is willing to do everything to reverse its steady loss position.
Its 3rd quarter results showed an improvement in its fortunes, reducing its loss to $1.2 billion from $5.2 billion in its 2nd quarter this year. Revenue growth accelerated to 30% year-over-year from 14% in the second quarter of 2019.
Some days ago, Uber announced that it was launching a series of financial services under the name Uber Money, part of a new payments plan intended to help its drivers manage their finances while positioning the ride-hailing company as an emergent player in the payments space.
