You came into Uber. Uber was at 4.5 billion in losses. Now you've turned it around. Last year it was around 10 billion in free cash flow.
Almost 10 billion. Yeah. The fact that we are a complete platform allows us to grow faster than our competitors and be more profitable. We started as the go app just rides. So now Uber Eats is just as big as our rides business. Now we're going into travel. So it's pretty cool to announce this partnership with Expedia. We got almost 50 million members. So Uber 1 members, when you book hotels on Uber, you get 10% back on all of your bookings. And on 10,000 hotels, you get at least 20% off.
So this is going to work. What's behind the door?
Could be behind the door.
Dara, welcome to Sorcery.
Thank you very much. Excited to be here.
Well, thank you for having me here. Where are we today? What's going on?
So we are at the PAC which is a performing arts center downtown New York and this is our Go-Get Showcase. Go-Get 26. It's our consumer-facing showcase where we show all of the cool stuff that we're building for you this year.
I heard that King is in town just for this.
We tried to get him over here but it didn't work.
Well, that's amazing. So today you announced a lot of really exciting things. One of the most exciting things we'll come back to at the end, but you had a full circle moment with Expedia. So, what's going on?
We sure did. So, we announced actually now making hotels available on Uber. You know, we started as the go app just rides obviously and then we went with Uber Eats and it was just an idea. Now Uber Eats is just as big as our rides business. Now we're going into travel. So, Go-Get Travel and we're partnering with Expedia, which is a company that I ran before I came to Uber for 12 years. So, it's pretty cool to announce this partnership with Expedia.
Amazing. Okay, so let's walk through and you can kind of showcase a couple of the things that are going on.
Definitely. So, this is one of the features that I'm the most excited about. It's called Shop for me on Uber. And this was actually inspired by our users who were hacking into essentially our system. We have a service called Uber Courier. Have you ever tried it?
So Courier is basically it's a driver or it can be riding a bicycle, scooter who will take an item for you from one point to the other. If you forgot your computer home or something, they can bring it to work for you. Anything that you want. What we saw is people who are using courier were hacking the system and they were like asking couriers to go to a store for them and buy something for them and I'll pay you back. And when we saw this we're like wow we can actually productize this. You know, we're constantly looking at the searches etc, what consumer behavior is and what we can productize. So this is actually a feature that essentially our users were hacking into and it is Shop for me on Uber. We send a courier out to a store and you know we've always wanted for you to be able to go anywhere get anything on Uber but the truth is you can get anything that's available on Uber Eats right now. Literally you can ask a courier to shop for you go to any store, you can upload a picture of what you're looking for on the net what it's going to cost and the shopper goes there and we only get our best shoppers we match you with the best shoppers and they will get approval. Like, is this what you wanted? Here's what it's going to cost. You can make it all happen. Payment is taken care of and the experience is absolutely seamless.
It's amazing. So, we actually really needed that a couple weeks ago. My videographer Brett, sorry Brett, I'm so sorry. We got to Helen Valley Conference right before it started. He ripped his pants.
So, he just ordered pants on Uber and it came over.
I love it. I hope they fit.
I think they did. Yeah, he was looking good, right? Yeah. This my wife is going to be very happy about this. It may cost me a little something, but it's a very very cool feature.
Amazing. Okay, so let's keep on going.
Let's keep walking, you know, over here. You want some coffee? Are you properly caffeinated?
So, this is part of it, right? Like you can now get coffees in your Ubers.
Yeah. So, this is very very cool. And what we try to do is create these surprise and delight moments for consumers. At the same time, another part of the strategy is, you know, we have users who use Uber rides and we have people who use Uber Eats and we're trying to create cross-platform interaction. Consumers who use both services usually spend three times more. They're much more loyal to the platform. So, we want to introduce the different services in a delightful way. This one is pretty cool. So, when you order an Uber Reserve, we also have Uber Elite for the next level. You can actually order a coffee to be in your Uber when you're going to work. It's one of those really cool interactions. And again, maybe you didn't use Uber for delivery, etc. It's a little way for us to upsell you the other services that we offer, but a pretty cool way to do it.
Yeah, that's so hopefully you can try next time. You know,
Hopefully you won't get coffee on your pants, though, because then well, maybe it would be good for us, actually.
Every time I wear a white t-shirt or anything, immediately coffee, matcha, it's just awesome.
That's why I go with dark, you know, sweaters. They're indestructible. So, this one is feedback that we got from our Uber One members. Are you... Should we sit in the chairs?
Yeah. I mean, if you like I don't know if they work. You get the front.
Let's see here. Do these chairs work? No, they don't work. Look at that. All right. How's this? What can I get you? Would you like coffee on your way to your Uber?
Oh my god. Okay, you got some wing. Here you go.
Thank you. Take those with you.
So this is for Uber One members. Are you an Uber One member?
All right. Excellent. So, our Uber One members, one of the complaints that they had, and as you can imagine, people who use Uber tend to travel a lot. And because we're available in 72 plus countries now, they tend to be global travelers. Like, use your Uber when you land. One of the additional benefits that they were asking for is I want to get Uber One credits and benefits when I'm traveling, not just when I'm at home. So, of course, we listen to our most valuable users, our members. And this is going to be available for international travel as well.
How much of the customer requests just end up getting front run to become new launches?
Oh, a huge number. We're constantly watching what customers say. And the cool thing is now with AI, we can have AI agents essentially look at searches, etc. What are the most common requests, customer service, same thing when we get calls? All of that can be summarized and can be put into what could be a potential road map that we look to build.
And then do you test them internally if it's like actually commercially viable?
You know, we so we just test them. We put them out into the market. And I mean one of our philosophies is we just want to build stuff and if you're not failing like this is I think a cool feature is going to be a win but we want to move faster. We want to take risks. Some of these products are going to work. Most of them we hope but some of them aren't going to work. And that's okay because you know one of the hallmarks of Uber is we're builders. We want to build fast. Most of our growth is going to come through building new great products versus going out and buying stuff.
And it's part of the building process that we've got. What are some of the weirdest things that have popped up?
Some of the weirdest things that have popped up for us are actually like all of the requests that we find even people saying, 'Can you go and get some cash for me at the bank, you know, like the trust that people put with money couriers.' Yeah, we're going to think about that.
All right. So, over here, let's see what we've got. Oh, yeah. So this is travel mode, right? So this is what I was talking about in terms of travelers using Uber a lot. And I don't know about you, but room service at hotels has suffered over the past 10 years.
You know, you never know if it's going to be available. You often have to wait for a long time. It's often really expensive. So, we now know when you're in a hotel and you open up Uber Eats, kind of switch to travel mode. And we offer essentially room service. But it's from all the restaurants around the hotel, local places, etc. Deliver to your hotel. And because we recognize you're in a hotel, we make all the adjustments, you know, meet in the lobby or if we know the hotel can deliver to the door, deliver to the door, etc. so that we can make your in room experience and room service kind of a Uber Eats room service which is very very cool.
I was just visiting Vegas and the room service there is like $500 for a pot of coffee.
Yeah. And you don't have to gamble. There you go.
You can use your breaths for that.
Come on over. Would you like or sweet or salty? What do you think?
Thank you. I'm going to go for sweet. I want to see what sweet has to offer.
There you go. Thank you very much. Really appreciate it.
What have we got in here?
Oh my god. It's little Swedish candies.
Now, if I had this salty thing, we can't have this because we're going to be chewing.
Yeah, exactly. You're right. You're right.
Are we gonna save this for... I love this. Thank you. I love my gifts.
Sorcery is brought to you by Brex, the financial stack trusted by more than 30,000 companies, including one in three venture-backed startups in the US. Nearly 40% of startups fail because they run out of cash. Brex is literally built to help founders avoid that. Unlike traditional banks that let your money sit idle, chipping away at it with fees, Brex is designed to help you spend smarter and move faster. Their all-in-one solution combines checking, treasury, and FDIC protection into one powerful account. You can send and receive money globally at lightning speeds. Get 20 times the standard FDIC coverage through their partner banks, and even high yield from day one with same day and even same hour liquidity. Access your funds anytime. Companies like Scale AI, DoorDash, ServiceTitan, Hims, Anthropic, Flexport, Robinhood, and Plaid trust and use Brex. Start today at brex.com/sorcery. That's brex.com/sorcery.
Turing is training the next generation of AI with tasks that require real expertise and real-world judgment. That's why companies like Nvidia, Anthropic, Salesforce, and Gemini partner with Turing. Turing builds realistic reinforcement learning environments and data systems based on real operational traces. The kind of infrastructure frontier labs need to train super intelligence. Visit turing.com/sorcery.
All right. And then last and certainly not least, this is what we talked about. This is hotels on Uber that we're going to see. Huge. And what we're super excited about this one is, for Uber 1 members, right? So, first, all of the information that you already have with Uber, credit card, your identity, all that stuff we already have. We're working with Expedia, my old company.
Yeah, it's amazing. I did. Seriously, I had to recuse myself from the process because I'm still on the Expedia board.
Oh, okay. So from a governance standpoint it's like hey Dara you... so then how do you set that up? What's the...
I asked the team basically you know travel is... no no we did it the right way but we've always thought about travel it's a huge use case on Uber and it was natural for us to add hotels as another product. In Europe for example we already have trains available in the UK and France and Spain. So originally it's like well let's wire up everything that moves but then how do we actually build around the experience of movement and traveling as well. Hotels was a natural for us. The focus for me has been deepening the relationship with Uber 1 members. You know we got almost 50 million members. It's a unique offering which is you get discounts on rides, you get discounts on delivery as well. What else can we offer these members to keep our membership growth really really high and keep your retention really high as well? And savings on hotels was something that came up. And so Uber 1 members, when you book hotels on Uber, you get 10% back on all of your bookings, regardless of which hotels you book on. And on 10,000 hotels, kind of a rolling list, you get at least 20% off. So, there's an incentive to book on Uber, and we think it's going to be a delightful experience.
I think you mentioned there's 700,000 available hotels,
and we're going to add Vrbo. So both for hotels and vacation rentals as well. You know if you're vacationing with a family, you need that Uber XXL will get you to Uber row as well.
So when you book an Uber, do you book Uber Black SUV? What do you book?
I usually book Uber Black. And then SUV if I'm going to the airport.
