Report: Uber Exploring "Strategic Alternatives" for Elevate Unit

Uber (NYSE: UBER) is looking to get out of the aerial taxi and delivery business. A report published in Axios Friday, citing "multiple sources," said the ride sharing giant is "seeking strategic alternatives," for its Uber Elevate unit.

Elevate is the company's aerial technologies unit. It aims to put air taxis and drones to work delivering people and food. None of these services exist yet, of course, so the division is a cost center at the moment. According to Axios, Elevate currently employs around 80 people.

Image source: Uber.

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Source Fool.com