UBER GS Communacopia 2025

Okay. I think in order to keep us on track, we're going to get started with our next fireside chat. It's always my pleasure to host Dara Khosrowshahi, he's the CEO of Uber Technologies. Dara, thank you so much for being part of Communacopia Technology again.

Happy to be here. Thank you.

Okay. So look, to lay the foundation for our discussion, why don't you talk a little bit about the evolution that the platform has been on over the last couple of years. And I'm sure we have 1 million topics we have to get through and only 35 minutes to get through it.

But why don't you set the table for us in terms of the evolution of the company, evolution of the platform?

Yes, sure. So we're very excited about where the company is and where we're going in that we continue to be the only global player that's running both mobility and a delivery marketplace. And in the early days, there was a hypothesis that the 2 would help each other in terms of moving demand from one side of the platform to the other side of the platform and then supply as well as drivers engaging on both sides of the platform.

And I think as we've matured as a company, we see that hypothesis coming to life and coming to life in a way that advantages us versus our competition. And it allows us to acquire customers from mobility, move them over to delivery. 1/3 of deliveries first trips come from the mobility app and more and more we're going delivery to mobility as well. And if you open up your Uber app now, you will see it will look much more like an everything app, which is both mobility and delivery in that same app as well.

So the platform is coming together really well. And if you step back and you think about kind of the overall growth drivers of the business, there's a core business for us that continues to grow really well. For example, our mobility business in our top 20 markets on a global basis, mobility trips are still growing in the teens. Delivery growth is very, very healthy as well.

And one area of growth that we're seeing that is very encouraging is growth in -- from kind of the urban markets that has been our traditional strength to the less dense areas and growth in less dense markets tends to be anywhere from 1.5x to 3x faster than our core market growth. So that core business in the middle of big cities growing really, really well and then consistently