Uber started its own ad network business and starts showing ads The company recently posted a job listing, first spotted by TechCrunch seeks an uber Eats Ads Lead “to lead the team and efforts responsible for creating a new ads business that enables eaters to discover new foods and restaurants to grow their customer base”.
Advertising is not the only idea Uber is testing. Last month, the company announced a trial run for “Uber Moments,” dining and cooking class experiences that users can book through Eats.
It’s also making a bigger push into financial services with its new division called Uber Money. Regardless of which experiments stick, it’s clear that simply having 100 million users isn’t enough.
The new opportunity in ads comes at a critical time when Uber is desperate to show its future potential in the face of a sagging share price that closed at $28.02 yesterday, down 40% from a high of $46.38 in June.
Today, Uber’s post-IPO stock lock-up expires and early investors are able to sell their shares, putting newfound pressure on its stock.
As the Techcrunch team predicted, now instead of just a quid pro quo, where Uber exchanges added visibility to restaurants willing to offer discounts that could keep users loyal to Uber Eats, it plans to formally sell ads.