Uber Technologies Inc. has launched a new advertising unit that will enable brands to deliver ads to the company’s 122 million monthly active users. The company has announced the unit’s launch.
By 2024, the company wants to increase its annualized ad revenue to $1 billion, according to the Financial Times. Uber reported annualized gross ad bookings of $350 million for the second quarter. The use of tablets mounted to the backs of seats inside Uber vehicles will also allow for the display of advertisements. Several in-app advertising tools will be made available through Uber’s new ad unit.
Many of those tools will reportedly be made available as part of the Uber Eats food delivery app, according to the business.
Read More: Uber launches ad unit to advance revenue growth plans
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