Uber Launches Advertising Arm To Tap Lucrative Revenue Stream

Uber is launching a dedicated advertising arm in a push to cash in on a captive audience and tap the higher-margin revenue stream. From a report: The new division encompasses ad offerings on Uber's ride-hailing and food-delivery apps. On Uber Eats, for example, brands will be able to pay for sponsored listings, prominent placing on the homepage or checkout, and featured menu items. Uber also rolled out Journey Ads, a new service that runs advertisements for ride-share users while they wait for their driver and during their trip. More than 40 brands have partnered with Uber to run Journey Ads, including NBCUniversal and Heineken NV, Uber said in a statement on Wednesday. The move expands Uber's prior efforts to monetize an audience of 122 million monthly active users.

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