Slow Research Academy › Uber › Unit 5 “Growth and Limits”, lesson 1
The company's own penetration anchors: even the highest-penetration country has under 20% of adults using Uber
This unit asks: Where can Gross Bookings still grow, and will margin gains slow?
The company’s penetration estimates use different population, user, merchant and use-case denominators, mostly measured in 2024; compare growth opportunities on matching definitions and dates.
Uber operates in 70+ countries, and in Q2 2026 about 208 million people a month used the platform to get a ride or order food.
How much is that of the adult population in those countries? And in delivery, how many restaurants and stores are online?
At its 2024 Investor Day and in later earnings materials, the company gave a few figures itself.
Even in the country with the highest penetration, fewer than 20% of adults use Uber
At its 2024 Investor Day, management said that even in the country with the highest penetration, fewer than 20% of the adult population uses Uber. In its view, the ceiling for this market is much higher.
This is the beginning of the lesson. The full lesson has 4 cards, key takeaways and a quiz. Become a member or purchase the course to continue.
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