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UBER Collaborates With Serve Robotics for On-Demand Delivery

Zacks Equity Research
·2 min read

Uber Technologies UBER has partnered with Serve Robotics, a company offering autonomous delivery services, to offer on-demand robotic delivery service through Uber Eats. The service will begin early next year in Los Angeles.

Serve Robotics, the former robotics division of Postmates, which Uber acquired last December, was spun off as an independent company in February 2021. The company is backed by Uber, among other investors.

Regarding the partnership, Sarfraz Maredia, VP and head of Uber Eats in the US & Canada, said that the company is looking forward to “test a new kind of delivery in Los Angeles, that's safe, reliable and environmentally friendly”.

Uber Technologies, Inc. Price

Uber Technologies, Inc. Price
Uber Technologies, Inc. Price

Uber Technologies, Inc. price | Uber Technologies, Inc. Quote

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Uber’s foray into robotic delivery service is encouraging, given the continued growth in its Delivery segment. Revenues from this segment jumped 97% year over year to $2,238 million in the third quarter of 2021. Gross bookings from Delivery augmented 50% to $12,828 million in the same period. Since the beginning of the coronavirus pandemic last year, Uber’s Delivery segment has been booming, with online order volumes surging as people confine themselves to their homes.

Zacks Rank & Key Picks

Uber carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Internet - Services industry are Alphabet GOOGL, Internet Initiative Japan IIJIY and Sify Technologies Limited SIFY. While Alphabet sports a Zacks Rank #1 (Strong Buy), Internet Initiative Japan and Sify Technologies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Alphabet have rallied more than 70% so far this year, while Internet Initiative Japan and Sify Technologies shares have gained more than 100% each.


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Alphabet Inc. (GOOGL) : Free Stock Analysis Report

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Uber Technologies, Inc. (UBER) : Free Stock Analysis Report

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Zacks Investment Research