Post listing, Uber is getting to ‘da Choppa’
“Get to the choppa” is one of the most famous movie quotes of all time.
It was back in 1987 when Arnold Schwarzenegger yelled the phrase in Predator.
Since then, Schwarzenegger’s agonising cry has taken on a life of its own, with the Urban Dictionary telling us that ‘GET TO DA CHOPPA’ has now come to mean that ‘one is saying that they must attain whatever goal it is that is set forth’.
Furthermore, "getting the choppa" is the act of succeeding in this goal and is the highest possible recognition.
It seems Uber has taken the phrase to heart and is getting to the choppa, both literally and metaphorically. Although technically, it’s a passenger drone not a helicopter and it looks something like this:
If you are yet to hear, Melbourne has been named one of three trial sites, along with Dallas and Los Angeles, for Uber Air, which will start test flights of its aerial taxi service in 2020, and move to commercial operations by 2023.
It certainly fits with the company’s overarching transport goals.
“Earlier this month (May) we took the important step of becoming a public company, and we are now focused on executing our strategy to become a one-stop shop for local transportation and commerce", said Uber CEO Dara Khosrowshahi at the company’s quarterly general meeting.
That focus has had its benefits in the first quarter, with Khosrowshahi reporting, “engagement across our platform was higher than ever, with an average of 17 million trips per day and an annualised gross bookings run-rate of US$59 billion. Our global reach continues to be an important differentiator, and we maintained leadership of the ride-sharing category in every region we serve".
Khosrowshahi has argued that Uber's future is not as a ride-hailing company, but as a wide technology platform shaping logistics and transportation.
Yet the numbers aren’t all good.
Uber was conservatively valued at A$118 billion on IPO – that was just a month after it announced a US$3.03 billion loss in 2018 from operations, and reported a net loss for the first quarter of 2019 of around US$1 billion on revenues of roughly US$3 billion.
So just like its proposed air travel solution, the numbers are up and down.
Perhaps this new Uber division will not only boost the number of users to its services, which are already strong, but it’s bottom line as well.
I, for one, will be using the service; taking a cheap flight over Melbourne at night is too good an offer to pass up (if civil aviators deem it safe).
If this is a success, no doubt Uber will ‘get to the Choppa’.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.