Food delivery

Uber committed to self-driving cars, despite setbacks

Image of Uber self-driving car
An Uber self-driving car undergoing testing in San Francisco. Photo: Justin Sullivan/Getty Images

Uber says it will continue to invest heavily in automated driving technology, while admitting it has fallen behind competitors that could steal away customers with lower prices.

Why it matters: Uber co-founder Travis Kalanick once called autonomous vehicles “existential” to its survival but now, in an SEC filing, the ride-hailing company sounds more conservative, predicting a long period of "hybrid autonomy" and a continued reliance on human drivers for the foreseeable future.

Uber Eats had $7.9 billion in gross bookings last year

Uber Eats delivery drive in Lisbon, Portugal. Photo: Horacio Villalobos - Corbis/Corbis via Getty Images

Uber provided a look into its food delivery business — Uber Eats — as part of its IPO filing on Thursday.

By the numbers: $7.9 billion in gross bookings for 2018, up from $3 billion in 2017. This translates to $1.5 billion in revenue, up from $587 million in 2017, and $757 million in adjusted net revenue in 2018, up from $367 million the prior year.