Dara Khosrowshahi: All right. Next question.
Operator: Your next question comes from the line of Ron Josey from Citi. Please go ahead.
Ron Josey: Great, thanks for taking the question. Maybe two deeper dive, specific ones, Dara and Prashanth, I wanted to, maybe sticking with the Delivery side on grocery and retail. I think I saw gross bookings are now in a $7 billion run rate. Maybe Dara talk to us about the progress with grocery now that I think the infrastructure is built-out. And how you think about integrating grocery within delivery and food going forward? And given the conversations around frequency as a big opportunity to improve overall usage going forward, we’d love to again update on Uber teams, I think we saw that is now expanding to newer markets. But here in the States, talk to us about demand for Uber teams and sort of where that might go? Thank you.
Dara Khosrowshahi: Yes, absolutely. As far as grocery and retail goes, we’re very happy with the progress there. Like you said, $7 billion of gross bookings. And really the focus that we have now on grocery and retail is upsell to the Uber Eats customer. Our grocery and retail business is now fully native. We have sunset the Cornershop app all over the world. We certainly haven’t sunset that team, that team is now actually leading many parts of our grocery and retail business. But the upsell is about showing at the right occasions grocery too and eat or so for example, after you’ve completed the order, maybe, you want a bottle of wine from a nearby liquor store or you want some dessert et cetera, it’s those occasions that can introduce in a very natural way the Uber Eats customer to grocery and retail.
And then what we’ll look to do after that is promote, there is a supermarket around the corner, do you want to do a top-up shop or do you want to do your weekly shop on that supermarket as well. So, it’s a lot of basic tackling, including getting more retailers onboard. And steadily we’re increasing the number of eaters who also order grocery and retail, it’s now up to 14%. And that is a percentage that you will continue to see move up throughout the year. So that’s essentially what we’re doing again, we expect big things from grocery and retail. Prashanth, do you want to talk about kind of the investment philosophy there. And then we’ll go to Uber team.
Prashanth Mahendra-Rajah: Yes, Ron, I think when we think about the unit economics for groceries, we feel pretty good about the direction we’re headed, and how this will grow into a profitable business. A couple of the levers that we have access to is clearly the power of the platform allows us to have a efficiency at a fulfillment level, which is very hard for others to obtain, given the scale that we have and the carrier network that we’ve built out. In addition, with roughly 150 monthly users we can provide a very attractive platform to advertisers to come onto the platform, advertise for the grocery business, but also potentially have access to much broader set. So we feel-good that unit economics will get to a point where this is going to be a great business for us.
I’ll say that for 2024, while this business will not be in the black, it is going to be doing better than it was in 2023. So the trajectory is going in the right direction. And then, let’s have Dara finish up on teams before we go to our last question.
Dara Khosrowshahi: On teams, as a parent of team, I can tell you that Uber team has one of our all-time kind of favorite new product out there, obviously, the parent has to invite the team to use the product. We continue to expand in a number of markets. And one thing that’s very interesting in terms of teen is that, we’re actually seeing the frequency of use of teams, I guess it shouldn’t be a surprise, be just as high as the frequency of adult. So, once teens get their hands on the product and is a very safe product, they use it every day to get around. And I think the reason why parents really love the product is, they are the ones that are inviting their teens to the product, they can rest assure that only the best drivers that are on the platform who have been there the longest, who have the best ratings can pick up a teen, there is automatic pin dispatch to make sure that you — your teen gets in the right car, that sometimes is a worry.
You can track your teen automatically to make sure when they get picked up, know when they get dropped off. And you as a parent can directly contact that driver, just in case you have any questions that the car stops and you’re worried about et cetera. So the out-of-the-box tech that comes with teen, which is really an amalgamation of a number of safety innovations that we’ve led on in the industry, make it a product that has been an absolute hit. And I think we’re pretty comfortable that once those teens turn into grownups, Uber is going to be their first choice for Mobility. So this is a product that today is a product that is looking great in terms of frequency and customer satisfaction. But it’s also a product that’s designed to — for growth, not just today, but tomorrow.
Operator: Our final question comes from the line of Deepak Mathivanan from Wolfe Research. Please go ahead.
