Ridesharing and food delivery giant Uber’s Australian operations made $150 million last year from an advertising business it started three years ago, as marketers direct more money to targeting Australians based on their food ordering habits.
The app, which is known for its celebrity-studded TV commercials, has quickly built its advertising business by showing customers ads while they wait for their ride or meal to be delivered. The numbers mean it is making more locally from ads than high profile social media and messaging app Snapchat.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.