Due diligence

Australia is Uber’s crown jewel after ‘collections’ surge to $9.2b

But new labour laws are likely to mean the company’s customers face higher prices as wages rise. The TWU says the jump in sales supports the need for change.

Nick BonyhadyTechnology writer

Updated Oct 29, 2023 – 8.07pm, first published at 6.10pm

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Uber Australia, says one technology industry source, is the “crown jewel” for the global gig economy company. One former food delivery executive describes Australia as “a big profit centre for UberEats”.

Figures lodged with the Australian Securities and Investments Commission show just how large it is, underscoring what’s at stake in the federal government’s plans to impose new pay rules on the food delivery and ride-sharing behemoth under the banner of fair wages for workers.

clarification —

This article has been updated to clarify that the company believes some prices, not payments to drivers, could rise 85 per cent.