Why did Uber's Delivery growth slow in 2024?

Uber's food delivery revenue grew by 10.43% in 2024, but the overall growth of its delivery business may have been influenced by several factors:

1. **Challenges in Merchants and Customer Incentives**: Food delivery startups, including Uber Eats, face challenges such as reduced consumer spending due to inflation. To attract and retain customers, they offer incentives like discounts, which can impact profit margins. Uber may have faced similar pressures, potentially affecting its revenue growth.
2. **Intense Competition**: The food delivery market is highly competitive, with major players like DoorDash and Grubhub holding significant market shares. Increased competition can lead to pricing pressures and reduced profitability, as companies may lower fees or offer promotions to attract and retain customers.
3. **Economic Headwinds**: Food delivery services have seen a slowdown in growth due to economic challenges, such as reduced urban food consumption and a decline in sales growth rates after the initial pandemic boom. These broader economic trends could have impacted Uber's delivery revenue.
4. **Geopolitical Factors**: Uber's acquisition of Foodpanda in Taiwan was blocked by the Fair Trade Commission, which raised concerns about anti-competitive practices. Such regulatory hurdles can disrupt growth plans and divert resources into compliance efforts.

In summary, while Uber's food delivery revenue grew in 2024, various challenges, including those related to merchant and customer incentives, competition, economic conditions, and geopolitical factors, could have impacted the overall growth rate.