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Uber Sells Entire Stake in Serve Robotics, Surprising the Spun-Out Company
Key points
- Uber sold its entire stake in Serve Robotics.
- Serve Robotics was surprised by the disclosure.
- The companies had diverging views on operating models.
- Serve's delivery volume through Uber reversed in Q2.
Uber Divests from Serve Robotics
Uber has sold its entire stake in Serve Robotics, an autonomous delivery robot company. This disclosure was made in a regulatory filing and reported by Bloomberg. Serve Robotics learned of the final selloff only upon its official disclosure.
Background of Serve Robotics
Serve Robotics began as Postmates X, the robotics division of Postmates, which Uber acquired in 2020. In 2021, the division spun out as an independent company, Serve Robotics. Uber had previously backed Serve and expanded a partnership in May 2023 to deploy up to 2,000 of Serve's sidewalk bots onto the Uber app.
Diverging Business Views
The divestiture follows a period where Uber and Serve Robotics developed differing views on the operating model for scaling their shared autonomous fleet, particularly in areas like fleet coordination and merchant integration. Serve Robotics' co-founder and CEO, Ali Kashani, noted a reversal in delivery volume growth through Uber in Q2, after 17 consecutive quarters of growth. This was attributed to lower-than-expected robot utilization.
Future of the Partnership
Due to these differing views, Serve Robotics did not expect to renew its partnership agreement with Uber when it expires in early 2027. Serve Robotics has also seen growth with another food delivery partner, with deliveries increasing by nearly 50% in a single quarter.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Uber has sold its full stake in Serve Robotics, an autonomous delivery robot company that originated from Uber's Postmates acquisition. This divestment occurred as the two companies developed differing views on scaling their shared autonomous fleet, leading to a reversal in delivery volume growth through Uber for Serve Robotics.