In today’s age of multi-trillion dollar S&P 500 firms, some might not consider Uber Technologies (NYSE:UBER) to be a giant. It ‘only’ has a $150bn market cap, after all.
However, its dominance is not in doubt, with more than 200m monthly users completing over 40m trips every day through its platform in the final quarter of 2025.
Looking ahead though, Uber is making moves that could see it become an even bigger business…
Building a super app
After starting out as a ride-sharing app, Uber expanded into food delivery and freight. Moving things from point A to point B, essentially.
In the past couple of years though, it has had success layering more services into its app. For example, I previously used Trainline to book train tickets. However, I now use Uber for this because I get Avios points after booking.
I’m also kept loyal by the Uber One subscription, which had over 46m members at the end of 2025. This gives me free or discounted delivery on orders from most restaurants and shops. As such, I use Just Eat far less often nowadays.
This week, the company announced a partnership with Expedia to offer in-app hotel bookings and expand travel services. Expedia hosts over 700,000 properties worldwide, so this could be a big deal.
I currently use Booking.com for hotels. Would I consider switching to Uber in future? Well, I might, as “Uber One members will earn 10% back in Uber One credits on all hotel bookings, plus they’ll save at least 20% on a rolling list of more than 10,000 hotels worldwide“.
CEO Dara Khosrowshahi says there are too many apps knocking about, and Uber wants to help “people reclaim their time“.
In other words, why bother using Trainline for trains and coaches, Skyscanner for flights, Booking or Airbnb for hotels and holiday rentals, Deliveroo for food delivery, when I can just use Uber for everything?
The company also wants people to do online shopping on the app.
Uber is becoming an app for everything — helping people go, get, and now travel all in one place.
Dara Khosrowshahi
Are robotaxis a threat or an opportunity?
As exciting as this sounds — and I do think the long-term growth potential is very significant here — robotaxis do present a threat. Leaders like Tesla and Waymo have big expansion plans for self-driving taxis and they don’t necessarily involve Uber.
To counter this threat, the company has been signing partnerships with autonomous vehicle (AV) companies at a rate of knots. The incentive for Uber to make robotaxis a commoditised service is obvious and necessary.
However, I do have some concerns because the firm has committed $10bn to buy robotaxis for its network and take chunky equity stakes in various AV firms.
This is potentially a move away from its capital-light model, which could be a risk to long-term profit margins.
Am I worried?
On the other hand, driverless taxis could significantly lower Uber’s costs. And I still think the firm has a strong chance of becoming the world’s largest facilitator of AV trips by 2029.
So, as a shareholder, I’m not overly worried yet.
The stock’s down 26% since November, giving a forward earnings multiple of 22. Given the super app potential, I think Uber’s worth considering today around $74.
