Is Uber pulling the plug on Self-Driving Cars?
Khosrowshahi hopes to get around $500 million for the Middle East and North Africa assets. Bloomberg speculates that Khosrowshahi is disposing of questionable assets in order to make Uber more value as an initial public offering (IPO).
It sounds as if Khosrowshahi is trying to reposition Uber as a passenger transportation company. To that end he shut down the UberRUSH delivery service in June.
That means UberEATS might be the next business sold. Likely buyers for UberEATS include Kroger (NYSE: KR), Ocado (LON: OCDO), Amazon (NASDAQ: AMZN), Instacart, and GrubHub (NYSE: GRUB).
Finding a buyer for UberEATS will be easy because it is the most profitable part of Uber. EATER reported that UberEats, a meal delivery service was s profitable in 27 of the 108 cities where it operated in July 2017. A likely plan would be to the sell profitable UberEATS operations and shut down the rest.
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