By Tina Bellon
(Reuters) – Uber Technologies will outline its growth strategy and new business opportunities when it holds its first investor day as a public company on Thursday, having anticipated news of a global car-sharing network and improved algorithms for contain costs.
Company executives during a fourth-quarter earnings call on Wednesday said they will provide more details on how Uber plans to merge its two platforms — people-carrying and food-delivery — into a single Uber marketplace that drives cost savings. .
Since Uber went public in May 2019, the company’s shares have been on a roller coaster ride, having fallen by nearly half at the start of the pandemic in the early months of 2020, when the company’s passenger transport business suffered. a sudden stop.
Uber is telling investors it has bounced back and is poised for long-term growth and profitability as pandemic restrictions ease in many of its key markets, but its stock continues to hover at roughly the same level as when it first listed. for the first time.
Uber Chief Executive Dara Khosrowshahi said a better combination of its transportation and delivery business will reduce customer acquisition costs — a metric investors are tracking closely in a market where companies have long competed by outperforming each other. others with discounts and incentives to expensive customers.
The company is also improving its algorithm to ensure more workers sign up for transport and delivery services, Khosrowshahi said, adding that this will improve dispatching drivers and allow greater utilization of each worker.
The chief executive also promised an update on other new business opportunities, including a global peer-to-peer car rental network. Uber last month acquired Australian car-sharing company Car Next Door and Khosrowshahi said Uber plans to expand its car-sharing footprint.
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