# Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates Acquisition



## goneubering (Aug 17, 2017)

https://www.forbes.com/sites/sergei...5-billion-postmates-acquisition/#793988845f12
*KEY FACTS*
"We're very confident we're going to get to profitability next year and we have enough of a diversified portfolio to make that statement with quite a bit of confidence," Uber CEO Dara Khosrowshahi told CNBC on Tuesday.

Uber's stock has risen 7% since the company on Monday announced that it would buy food delivery service Postmates in an all-stock transaction, worth $2.65 billion, in a deal that will likely close in the first quarter of 2021.

The deal merges the fourth-largest U.S. food delivery company with Uber Eats, the second-largest service by market share after DoorDash, according to Second Measure and Edison Trends.

Uber's Postmates acquisition will massively boost its Uber Eats service and comes weeks after it failed to buy larger rival GrubHub, which instead accepted a bid from European company Just Eat Takeaway.

Uber said in January that it expected to turn a profit on an Ebitda (earnings before interest, depreciation and amortization); basis by the fourth quarter of 2020, but withdrew its guidance in May after the coronavirus pandemic wreaked havoc on the economy and led to business shutdowns.


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## SHalester (Aug 25, 2019)

I could never do food delivery. yuck.


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## Mkang14 (Jun 29, 2019)

SHalester said:


> I could never do food delivery. yuck.


If you do 20 McDonalds deliveries and steal just 2 fries from each bag, there's lunch.


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## SHalester (Aug 25, 2019)

Mkang14 said:


> f you do 20 McDonalds deliveries and steal just 2 fries from each bag, there's lunch.


OMG, the smell. No, nope. not happening.
:vomit:


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## KevinJohnson (Mar 23, 2020)

It's hard. First the smell of yummy pizza. Then some yummy bbq in the car. It's torture.


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## Mkang14 (Jun 29, 2019)

SHalester said:


> OMG, the smell. No, nope. not happening.
> :vomit:


Free lubricant for your steering wheel?


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## SHalester (Aug 25, 2019)

<looking to see which forum I stumbled into here> &#128526;

ok, that wasn't WOW level and u started the trip....down.......there....


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## KevinJohnson (Mar 23, 2020)

In other news. Uber Eats has slashed pay to it's drivers in 32 American Markets. Average wait time for food increased 39 minutes.


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## Stevie The magic Unicorn (Apr 3, 2018)

Profitibility next year?

Havn't we heard that before?

https://www.theverge.com/2020/2/6/21126965/uber-q4-earnings-report-net-loss-revenue-profit-2019


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## Mkang14 (Jun 29, 2019)

SHalester said:


> <looking to see which forum I stumbled into here> &#128526;
> 
> ok, that wasn't WOW level and u started the trip....down.......there....


I was literally talking about eating fries in the car and getting greese on the steering wheel. So yeah you get a wow for your imagination &#129335;‍♀


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## SHalester (Aug 25, 2019)

Mkang14 said:


> So yeah you get a wow for your imagination


&#129504; I'm thinking which direction to go from here. Up? Down? Avoid? It's the 'lube' part. The slimy part. Maybe warm. Jury is out for deliberations.


huh. another one. I'm innocent here. Of all charges.


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## mbd (Aug 27, 2018)

I don’t know why Uber Eats purchased Postmates. Eats grew over 50% last quarter , so why do they need Postmates? which only did 100 million last quarter . All stock deal, maybe Uber and Postmates have interchangeable investors 😀 Eats did 33% of Uber’s total rev last quarter and this quarter it could be 40%. Uber’s take out is between 15-30%.


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## goneubering (Aug 17, 2017)

Stevie The magic Unicorn said:


> Profitibility next year?
> 
> Havn't we heard that before?
> 
> https://www.theverge.com/2020/2/6/21126965/uber-q4-earnings-report-net-loss-revenue-profit-2019


Hahahaha!! I thought exactly the same thing.


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## The Gift of Fish (Mar 17, 2017)

*Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates Acquisition*

Right, and I am the Emperor of the Universe. Uber has a history of failed acquisitions including Jump ("We're going to "pivot" towards alternative last mile solutions", before they pivoted almost straight back) and Otto ("We're going to build self driving trucks and cars"... "oops, no we're not").

I don't see how acquiring loss-making Postmates would help Uber towards profitability. It will help, though, turn up the furnace in the cash incineration machine that is Uber.


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## tohunt4me (Nov 23, 2015)

goneubering said:


> https://www.forbes.com/sites/sergei...5-billion-postmates-acquisition/#793988845f12
> *KEY FACTS*
> "We're very confident we're going to get to profitability next year and we have enough of a diversified portfolio to make that statement with quite a bit of confidence," Uber CEO Dara Khosrowshahi told CNBC on Tuesday.
> 
> ...


Right after the

" FLYING CARS " ! ! !

COME OUT !


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## Stevie The magic Unicorn (Apr 3, 2018)

Flying cars have been around for almost a _century_,

They just never became popular or remotely cost effective.

That and just imagine all those idiot Hoomans who can't driver worth a dang 1000 feet up..

Yeah..no...

Robotic flying cars?

Modern airliners can fly themselves, but the FAA still requires pilots.

Given uber's ability to self drive a car I doubt self flying cars will go well.

SO.. it's really just a case of "we'll make money next year i promise"

Sure...


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## 40acres1mule (Jul 8, 2020)

geezus will his fraud never end? his nose grew 20" lmao how can he even keep a straight face spewing such non sense, the fact this evil human p o s isnt doing life in prison is comical it means fbi, labor department, anyone with any power is being bribed by this filth.

lets see so theyve already lost 20 billion, so by "buying" a "company" postmates who never made a profit & never will just like uber magically within 365 days theyll service 20 billion rides & make $1 profit on each one?

since they sell $5 bills for $2 and steal 50-90% of drivers illegal 1970s wages let me guess theyll make it up in volume?

lmao

the ONLY way uber turns a profit is by firing 14,000+ of the 15,000 useless employees left who apparently sit around all day trying to figure out how to steal more out of each ride like taxi cab company is so difficult it needs algos & be turned into a game when its a job

dara k deserves to rot in prison ubers not profitable because it takes 1000 drivers working 40+ hours a week for a year just to pay his salary & another 10,000 drivers doing the same to cover his 200+ million dollare signing bonus, then another 20,000+ drivers doing the same to cover his billions in stock options, then take that 31,000 drivers & add 50,000 more to cover travis ks salary, stocks, real estate, then another 10,000 drivers to cover g camps 74 million dollar mansion.....

biggest ponzi scam in human history, even cnbc should be ashamed and jaile but no one gives a s h i t apparently human trafficking & modern day slavery is legal long as you brogram it into an app

all these criminals are doing is skimming off the top like an old vegas casino and laundering money thru real estate and salaries for job positions that dont exist for friends, family members, i wouldnt be suprised at thousands of dead people being on payroll, like sopranos no show jobs...

madoff, hitler, enron would be proud of this scam...


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## Launchpad McQuack (Jan 8, 2019)

40acres1mule said:


> lets see so theyve already lost 20 billion, so by "buying" a "company" postmates who never made a profit & never will just like uber magically within 365 days theyll service 20 billion rides & make $1 profit on each one?


He didn't say that Uber would make back all of the money that they have already lost. He said that Uber would become profitable. All that means is that they bring in more money than they spend _for the period over which they are measuring profitability_. Usually, profitability is measured over a quarter or a year. So if Uber brings in more money than they spend in 2021, then they will fulfill is prediction, even if they only net $100,000 during that time.



The Gift of Fish said:


> I don't see how acquiring loss-making Postmates would help Uber towards profitability.


Me neither. I think this might be a distraction and deception game. I think it is possible that Uber could become profitable in 2021. If that happens, though, I don't think that it will be because they bought Postmates. I think it will be because they cut a lot of the employees that were not directly contributing to generating revenue (self-driving car development, etc.). I think that they don't want to publicly state that this is what made them profitable, though.


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## 25rides7daysaweek (Nov 20, 2017)

The Gift of Fish said:


> *Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates Acquisition*
> 
> Right, and I am the Emperor of the Universe. Uber has a history of failed acquisitions including Jump ("We're going to "pivot" towards alternative last mile solutions", before they pivoted almost straight back) and Otto ("We're going to build self driving trucks and cars"... "oops, no we're not").
> 
> I don't see how acquiring loss-making Postmates would help Uber towards profitability. It will help, though, turn up the furnace in the cash incineration machine that is Uber.


Apparantly they are going to
have self delivering food now too.
I wonder if the self driving vehicles qualify for a cleaning fee when a milkshake spills...


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## EM1 (Apr 28, 2019)

Uber will make more money as they expand the 'Driver-sets-the-rate' platform across the country. As Drivers set rates at 2x, 3x...5x then uber makes a lot more money too. Now if they could hire some competent support call center peeps that would be nice.


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## driverdoug (Jun 11, 2017)

Dara “confident” there will be a profit. That’s not what the headline says. How does adding a minus to a minus equal a plus?


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## The Gift of Fish (Mar 17, 2017)

driverdoug said:


> Dara "confident" there will be a profit. That's not what the headline says. How does adding a minus to a minus equal a plus?


Ubermath:

Lower rates = higher earnings!
Larger losses = profit!


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## IRME4EVER (Feb 17, 2020)

The Gift of Fish said:


> *Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates Acquisition*
> 
> Right, and I am the Emperor of the Universe. Uber has a history of failed acquisitions including Jump ("We're going to "pivot" towards alternative last mile solutions", before they pivoted almost straight back) and Otto ("We're going to build self driving trucks and cars"... "oops, no we're not").
> 
> I don't see how acquiring loss-making Postmates would help Uber towards profitability. It will help, though, turn up the furnace in the cash incineration machine that is Uber.


 How do you think they will make $2.65 Billion? They overcharge customers and underpay drivers.


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## The Gift of Fish (Mar 17, 2017)

IRME4EVER said:


> How do you think they will make $2.65 Billion?


I don't.


> They overcharge customers and underpay drivers.


Correct, and doing this they lost $8.5bn in 2019 alone.


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## Disgusted Driver (Jan 9, 2015)

It just amazes me that wall street would buy it.


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## IRME4EVER (Feb 17, 2020)

40acres1mule said:


> geezus will his fraud never end? his nose grew 20" lmao how can he even keep a straight face spewing such non sense, the fact this evil human p o s isnt doing life in prison is comical it means fbi, labor department, anyone with any power is being bribed by this filth.
> 
> lets see so theyve already lost 20 billion, so by "buying" a "company" postmates who never made a profit & never will just like uber magically within 365 days theyll service 20 billion rides & make $1 profit on each one?
> 
> ...


 YOU ARE TOTALLY CORRECT!! Uber could care less about its drivers as long as they make a profit!! Ironically when I get my 1099k from Uber I made 54,159.63 but yet they charged me 20,029.40 for expenses, fees, and tax. My net payout was 34,130.23. When you go to file your taxes, your loss is the IRS gain!!


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## Disgusted Driver (Jan 9, 2015)

IRME4EVER said:


> YOU ARE TOTALLY CORRECT!! Uber could care less about its drivers as long as they make a profit!! Ironically when I get my 1099k from Uber I made 54,159.63 but yet they charged me 20,029.40 for expenses, fees, and tax. My net payout was 34,130.23. When you go to file your taxes, your loss is the IRS gain!!


Not sure what's ironic or what the IRS gain is. You done you're taxes n 54k income, minus 20k expenses, minus mileage and telephone bill and you are probably only paying tax on 10 or 15k. What's the issue?


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## goneubering (Aug 17, 2017)

driverdoug said:


> Dara "confident" there will be a profit. That's not what the headline says. How does adding a minus to a minus equal a plus?


I'm guessing more layoffs will be part of Dara's plan. Only a guess.


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## 40acres1mule (Jul 8, 2020)

IRME4EVER said:


> YOU ARE TOTALLY CORRECT!! Uber could care less about its drivers as long as they make a profit!! Ironically when I get my 1099k from Uber I made 54,159.63 but yet they charged me 20,029.40 for expenses, fees, and tax. My net payout was 34,130.23. When you go to file your taxes, your loss is the IRS gain!!


i WISH irs would audit me i aint payin no taxes on my human trafficking & 1970s wages, i got receipts bring it would love it all on public record, never filed for this gig till this year just cuz of the bailout check lol and after "costs" it was -$800 & some change lmao so after bailout i profited $400 this year you wanna tax it look me in my eyes so i can see true evil

catch me if you can so you can explain to me why i have to spend 1 minutes of my brain time filing taxes yet this company can pay illegal wages from the 70s while "losing money" yet they all buying 100 million dollar mansions & getting 50 million dollar salaries

pretty please audit me,.


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## Cdub2k (Nov 22, 2017)

As a Cubs fan this sounds all too familiar........


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## Launchpad McQuack (Jan 8, 2019)

driverdoug said:


> How does adding a minus to a minus equal a plus?


Apparently, it is possible to add infinitely many positive numbers together and get a negative number, so maybe the reverse is also true???


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## Lee239 (Mar 24, 2017)

mbd said:


> I don't know why Uber Eats purchased Postmates. Eats grew over 50% last quarter , so why do they need Postmates? which only did 100 million last quarter . All stock deal, maybe Uber and Postmates have interchangeable investors &#128512; Eats did 33% of Uber's total rev last quarter and this quarter it could be 40%. Uber's take out is between 15-30%.


Uber has lost $5.2 billion in a year, so that's $14 million a day loss. So in about 7 days they lost the $100 million.

When I hear Postmates it makes me thinks they only deliver post it notes from Staples. &#128513;


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## goneubering (Aug 17, 2017)

Lee239 said:


> Uber has lost $5.2 billion in a year, so that's $14 million a day loss. So in about 7 days they lost the $100 million.
> 
> When I hear Postmates it makes me thinks they only deliver post it notes from Staples. &#128513;


Good point. It's a dumb name.


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## 33101sundevil (Jul 14, 2020)

The Gift of Fish said:


> *Uber Says It Will Become Profitable Next Year, Boosted By $2.65 Billion Postmates Acquisition*
> 
> Right, and I am the Emperor of the Universe. Uber has a history of failed acquisitions including Jump ("We're going to "pivot" towards alternative last mile solutions", before they pivoted almost straight back) and Otto ("We're going to build self driving trucks and cars"... "oops, no we're not").
> 
> I don't see how acquiring loss-making Postmates would help Uber towards profitability. It will help, though, turn up the furnace in the cash incineration machine that is Uber.


 Uber looks beyond Uber X

Uber will acquire public transportation software company Routematch
Part of the ride-hail company's broader push into public transit
Jul 16, 2020, 9:00am EDT
https://www.theverge.com/2020/7/16/21326823/uber-routematch-acquire-public-transportation-software


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## tohunt4me (Nov 23, 2015)

goneubering said:


> https://www.forbes.com/sites/sergei...5-billion-postmates-acquisition/#793988845f12
> *KEY FACTS*
> "We're very confident we're going to get to profitability next year and we have enough of a diversified portfolio to make that statement with quite a bit of confidence," Uber CEO Dara Khosrowshahi told CNBC on Tuesday.
> 
> ...


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## The Gift of Fish (Mar 17, 2017)

33101sundevil said:


> Uber looks beyond Uber X
> 
> Uber will acquire public transportation software company Routematch
> Part of the ride-hail company's broader push into public transit
> ...


This might actually be a good move for Uber. It may show that they are finally learning that it is important to (a) know what business you're in and (b) know the business you're in. For 10 years now, Uber has claimed that it is a software company, claiming to licence its wares to "customers". However, in reality of course it is actually a subsidised, loss making transportation organisation.

Public transit organisations are also (by design, unlike Uber) subsidised, loss-making transportation organisations. The differences between the two are small - instead of being funded by investors, their transport services are funded by taxpayers. Obviously there is potential for Uber to licence the software it created in the process of building its own transportation business to other transport providers - ticketing systems, reservation systems, geolocation systems etc etc.

Clearly, the revenue potential for Uber of starting up as a software provider will be small compared with the amounts involved in using billions of investor money in order to purchase market share as a transportation provider. Reason: each city has only one metropolitan transit authority customer. Once the software has been sold to a city, that's pretty much it. So while this may generate a little extra revenue for Uber, it won't be enough to support the company at its current size. However, what it does do is provide evidence that Uber is starting to think like a successful company. "What business are we in?". "What do we do well?". "Who might our customers be?". This kind of analysis is covered in Business 101, and is known as a SWOT (strengths, weaknesses, opportunites, threats) analysis. It's first year business school material. But still... baby steps.

This could be the first step in Uber transitioning into a company that actually does provide services in the industry that it claims to, albeit in a much downsized form.


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## tohunt4me (Nov 23, 2015)

I ALWAYS SAID

UBER WOULD END UP SUBSIDISED BY THE GOVERNMENT !!!


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## getawaycar (Jul 10, 2017)

Disgusted Driver said:


> It just amazes me that wall street would buy it.


Wall Street loves a good old fashioned Pump & Dump!


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## goneubering (Aug 17, 2017)

The Gift of Fish said:


> This might actually be a good move for Uber. It may show that they are finally learning that it is important to (a) know what business you're in and (b) know the business you're in. For 10 years now, Uber has claimed that it is a software company, claiming to licence its wares to "customers". However, in reality of course it is actually a subsidised, loss making transportation organisation.
> 
> Public transit organisations are also (by design, unlike Uber) subsidised, loss-making transportation organisations. The differences between the two are small - instead of being funded by investors, their transport services are funded by taxpayers. Obviously there is potential for Uber to licence the software it created in the process of building its own transportation business to other transport providers - ticketing systems, reservation systems, geolocation systems etc etc.
> 
> ...


This is where Dara gives Uber a huge advantage over their years under TK.


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## The Gift of Fish (Mar 17, 2017)

goneubering said:


> This is where Dara gives Uber a huge advantage over their years under TK.


I think that Dara is just playing a game of shuffling the deck chairs around before he gets into a lifeboat. I don't think he'll remain onboard for much longer.


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## goneubering (Aug 17, 2017)

The Gift of Fish said:


> I think that Dara is just playing a game of shuffling the deck chairs around before he gets into a lifeboat. I don't think he'll remain onboard for much longer.


Disagree. This is his MO. Grow through purchases. It might even work.


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