Uber

Uber Technologies runs a platform that connects consumers with drivers for rides and with restaurants and couriers for meal delivery, plus a freight business. In its 2019 prospectus the company described three offerings, Personal Mobility, Uber Eats and Uber Freight, and said it operated in 63 countries, where only 2% of the population used its offerings in the quarter ended December 31, 2018. Its stated mission is to ignite opportunity by setting the world in motion.^[1]

The business is now large and profitable on a GAAP basis. In the second quarter of 2026, trips grew 18% year over year to 3.9 billion, Gross Bookings grew 24% to $58.0 billion and revenue grew 12% to $14.2 billion. GAAP income from operations was $1.9 billion, and the company reported 208 million Monthly Active Platform Consumers, up 16%. CEO Dara Khosrowshahi said Uber is building what it calls the world's largest platform for autonomous vehicles.^[2]

Before going public, Uber raised large late-stage rounds from sovereign and strategic investors. The prospectus shows The Public Investment Fund of Saudi Arabia bought 71,762,151 Series G preferred shares plus warrants for a total of $3,499,999,990.35, and SoftBank's SB Cayman 2 Ltd. bought 21,448,296 Series G-1 preferred shares for $1,046,081,182.72. In April 2019, just before the IPO, SoftBank, Toyota and DENSO agreed to invest an aggregate $1.0 billion ($400 million from Toyota, $333 million from SoftBank and $267 million from DENSO) into a new parent entity for the Advanced Technologies Group, Uber's self-driving unit.^[1]

Shares were listed on the New York Stock Exchange under the symbol UBER and delivered on May 14, 2019. Alongside the IPO, PayPal agreed to buy $500 million of common stock in a private placement at the IPO price, which worked out to 11,111,112 shares.^[1]

CompaniesMarketCap put Uber's market capitalization at $136.23 billion as of October 2026. In Q2 2026 the company reported GAAP net income attributable to Uber of $2.4 billion, including a $1.6 billion pre-tax net benefit from revaluing its equity investments, free cash flow of $2.8 billion and $5.4 billion of unrestricted cash, cash equivalents and short-term investments. The CFO said trailing twelve-month free cash flow exceeded $10 billion for the first time and that Uber continues to reduce its share count.^[3],[2]

Uber invests from its balance sheet to secure autonomous-vehicle supply rather than through a separately branded venture arm. In July 2025 it agreed to invest $300 million in EV maker Lucid and to buy at least 20,000 Lucid Gravity SUVs over six years, to be fitted with Nuro's self-driving system and operated by Uber or its fleet partners. TechCrunch reported Uber also made an undisclosed multi-hundred-million-dollar investment in Nuro, and that Uber had partnered with more than 18 autonomous-vehicle companies globally, including Waymo, May Mobility, Volkswagen, Momenta, WeRide and Baidu.^[4]

In April 2026 Lucid said Uber had committed another $200 million and agreed to buy an additional 25,000 robotaxi-ready versions of Lucid's upcoming mid-size vehicle, bringing Uber's total committed investment in Lucid to $500 million and its minimum vehicle order to 35,000. The revised deal cut the minimum Gravity SUV order to 10,000. The commitment came a day after Uber and Nuro began testing modified Gravity SUVs for a robotaxi service planned for San Francisco.^[5]