, Columnist
Uber Is a Growth Business That Has Trouble Growing
The ride-hailing company’s latest IPO filing demonstrates the need to expand into new markets and businesses.
A bet on Uber’s IPO is effectively a wager that the company can supercharge the food-delivery industry.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Remember this moment. Early 2019 may have showed us the ceiling for the business of selling car rides at the tap of a smartphone.
In an updated financial document for its coming initial public offering, Uber Technologies Inc. disclosed that the total value of rides on its service was between $11.3 billion and $11.45 billion in the first quarter of the year. At the midpoint of that range, that would be a 1 percent decline from the total value of rides the company recorded in the December quarter.1