Uber launched an advertising division which will expand its ad offerings across its food delivery and ride hailing platforms, the company announced Oct. 19. On Uber Eats, users will see ads on the homepage and at checkout. Uber riders will also see ads while waiting to be picked up and during their trip, a program the company calls Journey Ads.
The move will tap a new revenue stream for the company that reached $25.6 billion in sales last year. Uber has 122 million monthly active users across its platforms, and the company hopes its ad operations will earn it an additional $1 billion by 2024.
“Through our advertising division, we can help leading brands grow their relationships with consumers by connecting them at a moment when a customer is uniquely attentive,” said Mark Grether, head of Uber’s advertising division.
Forty brands have already partnered with Uber including NBCUniversal and Heineken, Uber said in a press release. It is showing Journey Ads for about two minutes per ride, and it also suggested innovations like in-car tablet advertising.
