Uber Technologies, Inc. concluded Friday's trading session with its stock price declining 1.7% to $69.99, setting the stage for a pivotal market reopening following the Presidents Day holiday. The movement came on the heels of the company's strategic announcement to launch its Uber Eats food delivery platform in seven additional European nations during 2026.
Strategic Growth Target
The expansion initiative carries an ambitious financial goal: Uber projects the new markets will contribute approximately $1 billion in total gross bookings across a three-year horizon. Gross bookings represent the total value of all transactions processed on the platform before accounting for payments to drivers, couriers, and restaurant partners. This metric serves as a key indicator of platform demand, though investors typically scrutinize the underlying profitability and the cost structure required to achieve such growth.
Susan Anderson, the head of Uber's global delivery business, cited "strong demand" as a driving force behind the expansion plans. The move signals Uber's continued aggressive pursuit of market share in the competitive global food delivery sector.
Navigating a Competitive Landscape
Uber's foray will place it directly into a European market already contested by well-established players such as Wolt and Deliveroo. The sector has recently witnessed significant consolidation activity, including Prosus's move to take Just Eat Takeaway private and DoorDash's acquisition of Deliveroo, as reported by the Financial Times. This environment is characterized by intense price competition and historically thin profit margins, where entering new regions often necessitates substantial upfront investment in customer discounts, marketing campaigns, and courier incentives before operations become financially sustainable.
Parallel Moves in Türkiye
Concurrently, Uber is deepening its commitment to the Turkish market through a separate, significant transaction. The company has agreed to a $335 million all-cash deal to acquire the food delivery business of Getir. Furthermore, Uber plans to invest an additional $100 million to secure a 15% equity stake in Getir's broader operations. This agreement, however, remains pending approval from Turkish regulatory authorities.
This deal has introduced legal complexity, as Getir's founders have initiated legal proceedings in London against Mubadala, an Abu Dhabi sovereign wealth fund. The lawsuit alleges Mubadala violated terms of a 2024 asset-split agreement by selling the Turkish delivery unit to Uber, according to additional Financial Times coverage.
Leadership Transition
The company is also undergoing a key executive change. Chief Financial Officer Prashanth Mahendra-Rajah departed on February 16, with Balaji Krishnamurthy assuming the role. In a regulatory filing, CEO Dara Khosrowshahi endorsed Krishnamurthy as an executive "trusted by investors" who possesses an intimate, "inside and out" understanding of Uber's multifaceted business operations.
Market Inflection Point Ahead
With U.S. equity markets closed Monday for the federal holiday, the next critical moment for Uber's stock arrives on Tuesday, February 17, when trading resumes on the New York Stock Exchange and Nasdaq. This session will provide the first opportunity for the market to fully price in the implications of the European growth strategy.
Investor focus will likely extend beyond the top-line booking target to more granular details expected to emerge regarding projected rollout costs, the specific implementation timeline, and the regulatory status of the Getir acquisition in Türkiye. The company's ability to navigate the costly competitive dynamics of Europe while managing this concurrent expansion and integration will be a primary concern for analysts and shareholders alike.
