Quick Answer 🔍How many people use Uber in 2023?
122 million people use Uber.
What if you could book a ride using a dedicated application on your phone?
This “what if” became a reality when Uber launched in 2009—the first ride-hailing platform of its kind to be available to the public.
Today, the ridesharing market enjoys wide popularity be it in highly industrialized countries or the developing world.
Let’s dig into Uber’s history and find out how many users Uber has in 2023.
The novel app has experienced a series of ups and downs throughout these years but has maintained composure through it all. Hop in!
How Many People Use Uber in 2023?
Throughout the years, Uber has weathered a wild ride to survive the unpredictable ridesharing market.
Today, 118 million people are using Uber’s ride-hailing service.
This is by far its highest user count ever achieved since its founding in 2009.
It first breached the 100 million user count in 2019, but the pandemic eroded its audience count, decreasing the total number of its user base to 93 million in 2020.
Despite this, it managed to venture into other profitable income sources during the height of mobility restrictions, particularly through Uber Eats.
Lockdowns dramatically increased demand for food delivery and Uber Eats experienced a 300% year-on-year growth in 2020, with 66 million active users.
Uber’s User Count from 2015 to 2021
Six years since its founding in 2009 and five years after booking its first ride in 2010, Uber’s growth is still slow.
But the company’s user base started gaining traction in 2018.
- 2015 – 11 million annual users
- 2016 – 37 million annual users
- 2017 – 68 million annual users
- 2018 – 91 million annual users
- 2019 – 111 million annual users
- 2020 – 93 million annual users
- 2021 – 100 million annual users
Aside from the pandemic year, 2017 was also a significantly difficult year that hit on Uber’s growth.
During that period, it lost its license to operate in London, one of its biggest markets, due to complaints of unfair competition.
All About Uber and its Stock
Uber is one of the most popular ridesharing applications available in more than 80 countries and 10,000 cities all across the globe.
It is a public company, trading on the New York Stock Exchange under the ticker symbol “UBER.”
Its initial public offering is one of the most-anticipated debuts in 2019, generating $8.1 billion after selling at $45 a stock.
Although its IPO is highly-participated and sent the company’s valuation to $82 billion, it failed to hit analysts’ forecasted valuation of $120 billion.
The share price had not recovered since then and now trades at $23 a share.
Uber’s History: It All Started in Paris
While Uber is a true-blue American company, headquartered in San Francisco, California, its beginnings can be traced to the City of Love, Paris in 2008.
Two founders of newly-sold startup companies were attending an annual technology conference called “LeWeb” that gathers all the shapers of the future of the tech world.
It was winter, and the two friends had difficulty finding a cab to go to the event.
Being in the zone of innovative thinking, they came up with the idea of developing a dedicated app that allows people to book a ride using one’s phones.
After securing funds from venture capitalists and unicorn investors including Amazon founder, Jeff Bezos, the idea turned into reality in 2009.
A year after, Uber started strutting the streets and accepting bookings from retail customers.
In 2015, the platform is hailed as the world’s most valuable startup after hitting a valuation of $51 billion.
Uber’s Annual Revenue History
Take a look at Uber’s annual revenue from 2018 to 2021, divided by segments including Mobility, Delivery, and Freight.
- 2018 – $11.3 billion in annual revenue: $8.9 billion from the Mobility segment, $700,000 million from Delivery, and $300,000 million from its Freight sector
- 2019 – $14.1 billion in annual revenue: $10.4 billion from the Mobility segment, $1.3 billion from Delivery, and $700,000 million from its Freight sector
- 2020 – $11.1 billion in annual revenue: $7.9 billion from the Mobility segment, $4.8 billion from Delivery, and $1.3 billion from its Freight sector
- 2021 – $17.4 billion in annual revenue: $7.5 billion from the Mobility segment, $8.3 billion from Delivery, and $2.1 billion from its Freight sector
As can be observed from the data above, Uber’s revenue by segment significantly changed during the pandemic until last year.
The revenue from its Mobility segment slowed but its Delivery made up for the losses. Similarly, its freight business flourished during those two years.
Uber is Still Not Profitable
Despite raking billions in revenue throughout these years, Uber is still yet to become a profitable business.
Here is Uber’s profit and loss history from 2014 to 2021.
- 2014 – $700,000 million annual loss
- 2015 – $1.6 billion annual loss
- 2016 – $3.6 billion annual loss
- 2017 – $4.0 billion annual loss
- 2018 – $1 billion annual profit
- 2019 – $8.5 billion annual loss
- 2020 – $6.7 billion annual loss
- 2021 – $400,000 million annual loss
So far, 2018 is the only year when Uber made a profitable income. It weathered a wide loss of $8.5 billion and $6.7 billion in 2019 and 2020.
The main culprit behind these losses is the Cost of Revenue which includes insurance expenses, incentive distribution to drivers, and costs from its freight services.
Uber’s business experienced a series of setbacks over the past years, ranging from increased competition, strikes, bans, and the pandemic, among others.
But through it all, it stood unfazed, now operating in over 800 countries and 10,000 cities throughout the world.
While it is yet to achieve profitability in the past, the company is investing heavily in new ventures that could bring it a huge sum of money in the future.
The world’s first ridesharing app will remain a trusted platform for mobility, food delivery, and freight services in the future.
How many users does Uber have in 2023?
122 million people.