Main business “cool”, take away: Uber has a new “cash tree”

Hitherto unknown novel coronavirus pneumonia outbreak in

has led to a sharp decline in demand for travel. Uber’s “auto step” has also been stagnant. This undoubtedly made even the ten year old company suffer from an unprecedented cold winter. The company has experienced one disaster after another. The company has experienced a cold spell of unprecedented growth for 900 thousand years. However, in the second quarter of this year, Uber’s takeaway business, Youshi, has sprung up. Relying on more than doubling the order volume, Uber has brought us $1.2 billion in revenue, twice the same period last year. This also made takeout the biggest cash cow for the company during the epidemic. < p > < p > in the second quarter of 2020, Uber’s online car Hailing business orders decreased by 75% compared with the same period last year, and its revenue plummeted by 67%, only US $790 million. Dala kosrossahi, chief executive of Uber, said the recovery of online car Hailing business depends on the ability of different countries to contain the virus. So far, only Asia outside India can be called a real “business recovery”. < / P > < p >} affected by the epidemic situation, Uber’s loss in the second quarter of 2020 reached 1.8 billion US dollars, and the online car Hailing business decreased by 75% year on year. According to the magazine < / P > < p > according to CNN news, since the outbreak of the epidemic, online car Hailing users have dropped from 99 million to 45 million. The company laid off more than 6700 employees, accounting for 23% of all regular employees. The continuous rampant epidemic and dismal operation not only make the situation of the company with serious losses even worse, but also make those drivers who make a living from it into a dilemma. < / P > < p > it is difficult for Uber drivers to obtain the security and benefits that regular employees have because they are outsourcing employees of the company. As the $600 a week federal unemployment benefit is about to expire, they are facing tough health and financial choices: to live with the little money left, or to restart online car hailing in the face of an epidemic. John Niemann was one of them, earning $1500 a week in the high-end black car business before the outbreak. But after the virus began to ravage New York in mid March, Nieman, who had type II diabetes, became a high-risk infection group. He had to choose to apply for unemployment to receive unemployment benefits from the state government and the federal government, which were $300 and $600 a week, respectively. < / P > < p > but for Neyman, to live at $900 a week, he has to tighten his belt – not only does he have to keep the family’s basic living expenses, but he also pays the city government driver’s liability insurance, which is not deductible, even though he is “unemployed.”. If the federal government’s $600 relief is recovered, he will face a financial crisis that is hard to overcome. His house and car will have to be cut off. “After working for so many years, I never thought that one day I would have to ask for food from someone else,” Nieman told Reuters < / P > < p > however, for some people, Niemann is even luckier than them. Because of the accumulation of agency work, many people’s unemployment applications have been delayed, and Melinda pualani, a driver from California, is not even eligible to cry about the expiration of benefits. Last week, she had to restart her online car Hailing job. “I’ve spent most of my savings. I have to drive to make a living.” < / P > < p > when the main business was cold, Uber’s catering delivery business, which has been tepid for six years since its establishment, has sprung up, which has recovered part of the company’s losses: in the second quarter, the order business of Youshi increased by 113%, bringing us $1.2 billion in revenue. After deducting EBIT, Youshi platform lost $232 million in the second quarter. < / P > < p > as the first extended business of Uber, the biggest reason for the success of Youshi really comes from the safety policy during the epidemic period. Affected by the epidemic, most people are still at home, which has led to a surge in demand for food and beverage takeout. In New Zealand, the number of orders for premium food even surpassed that before the outbreak, Reuters reported. In the “takeaway desert” of the United States, premium food has even been able to occupy a place in the takeout industry. In New York’s outer city, premium food can even afford to be a “leader in the industry.”. In a speech to investors yesterday, Uber’s chief executive, Dara kosrossasi, was reported to have said that the food and beverage takeaway business had gone from “luxury to utility.”. Today, the catering delivery business of Youshi platform has “reached the same volume” as the carpooling business of Uber platform when he took over in 2017. < p > < p > in addition, the success of Youshi also started with “a strong man broke his wrist”. In recent months, in order to reduce losses, Youshi has closed eight smaller markets, including Eastern Europe and the Middle East. At the same time, it also began to sell olive branches to competitors, selling all the premium food business in the Indian market in exchange for shares in competitors. In July, Uber also announced its acquisition of rival postmate for $2.65 billion, which focuses on the distribution of goods to supermarkets and restaurants. According to Reuters, the move is intended to expand the scope of goods supply and distribution on the premium food platform. < p > < p > Uber executives said that cutting costs, optimizing routes and promoting businesses to settle in will be important strategies for improving the profit margin of Youshi platform in the future. Nelson Chai, the company’s chief financial officer, said the business would be profitable in most countries in the next few years. Continue ReadingYueshang group has become the third social e-commerce service platform listed in China after being gathered in pinduoduo

Author: zmhuaxia