Uber says one stat shows how much room the company has to grow in the US [Business Insider]
Uber Technologies, Inc. (UBER)
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Source: Business Insider
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in Uber's market penetration in the US is around 15%, CFO Prashanth Mahendra-Rajah said Wednesday. The statistic shows how much room Uber has to grow in its home market, Mahendra-Rajah said. Uber sees suburbs and grocery delivery among its growth areas, he said. Uber might seem ubiquitous in the US, but its CFO says the company has lots of room to grow. Across the 10 largest countries where Uber operates, about 15% of adults use either Uber for ride-hailing or delivery, Prashanth Mahendra-Rajah said during a presentation at UBS' Global Technology and AI Conference on Wednesday. Uber and other consumer-focused companies often refer to this metric as "market penetration." Uber's market penetration in the US "is right in line with that 15% average," Mahendra-Rajah said. That means that Uber has yet to reach many customers in the country where i
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