Uber CEO Dara Khosrowshahi said the ride-hailing giant could begin delivering cannabis in the U.S. once the federal government legalizes it. Cannabis is still illegal under federal law but legal in 16 states and the District of Columbia. Earlier this month, Senate Majority Leader Chuck Schumer said the chamber would vote to legalize cannabis.
- Cannabis delivery is already available in California, Nevada, and Oregon from other service providers.
- However, Khosrowshahi said Uber is currently focused on growing its delivery service in important categories such as food and alcohol.
- Uber's food delivery unit posted a record $52B annual run rate in March and has grown by 150% YoY.
- In February, Uber paid $1.1B for online alcohol marketplace Drizly.
- Uber lost nearly $6.8B last year, but it's still “on track to reach quarterly Adjusted EBITDA profitability in 2021.”
Note: Inside.com's founder and CEO, Jason Calacanis, is an investor in Uber.