Bolt Isolated Rides

Sourced from Forbes. Uber Technologies Inc.’s global rides business is down 70% from this time last year, a small improvement from its rock-bottom fall during the beginning of the coronavirus pandemic. Though slight, it is an indication that recovery is coming, albeit slowly. The decline in rides seems to be offset, if partially, by a boom in food delivery. Uber Eats’ gains have more than doubled, and they continue to accelerate, says Dara Khosrowshahi, Uber’s CEO, speaking at a virtual tech conference hosted by Bank of America. Bloomberg reports that the ride-hailing company intends to continue to look for opportunities in the food delivery market. Khosrowshahi declined to comment on Uber’s proposal to buy Grubhub Inc., which was first reported by Bloomberg last month. Since being so hars...