UBER IPO Papers Show the State of Ridesharing

UBER’s IPO is seeking to raise $10 billion. The SEC papers for the IPO provide extensive information about UBER and Ridesharing.

UBER wants to eventually compete for nearly the entire global personal mobility market. Personal Mobility is 13 trillion miles per year and $6.2 trillion per year. UBER wants to directly compete for an estimated $5.7 trillion market opportunity in 175 countries. In 20 other countries, UBER has partners.

UBER currently is operating in 57 countries. They compete for personal mobility for 3.9 trillion miles per year and an estimated $2.5 trillion market opportunity. They do not currently compete for trips over 30 miles.

Consumers only traveled approximately 26 billion miles on their platform in 2018. This is less than 1% penetration rate of the near-term market opportunity.

Food Delivery

According to Euromonitor International, the global spend for consumer food services, which includes full-service restaurants, limited-service restaurants, cafés and bars, and other consumer foodservice, was $2.8 trillion in 2017. Of this amount, we believe that our Uber Eats offering addresses a SAM of $795 billion, the amount that consumers spent in 2017 on meals from home delivery, takeaway, and drive-through worldwide from these consumer food services.

Freight

According to the American Trucking Associations, businesses spent $700 billion on trucking in the United States in 2017. UBER is competing for all of the US Freight trucking business. Uber Freight currently addresses the brokerage portion of the United States market which was $72 billion in 2017. They believe business logistics market is moving towards an on-demand logistics model. The brokerage segment grew at a compound annual growth rate of over 11% from 1995 to 2017. They have less than 0.1% of this $700 billion market given our $359 million of Uber Freight Gross Bookings for the year ended December 31, 2018.

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