News & Politics
Uber has burnt $1.2 Billion This Year
According to Bloomberg, Uber has lost a remarkable $1.27 billion USD in the first half of 2016. The company lost more than $2 billion USD last year and has lost $4 billion USD total in its seven-year history indicates a noteworthy slump. According to its Head of Finance, Gautam Gupta most of these losses are […]
According to Bloomberg, Uber has lost a remarkable $1.27 billion USD in the first half of 2016. The company lost more than $2 billion USD last year and has lost $4 billion USD total in its seven-year history indicates a noteworthy slump. According to its Head of Finance, Gautam Gupta most of these losses are as a cost for compensation for its drivers worldwide. Uber lost $2 billion USD in two years in China, and is also fighting a price war with Lyft in the US market. With a reported $8 billion USD in the bank and an incoming $1 billion USD in cash from Didi, it is uncertain as to how Uber will perform in the foreseeable future.
