‘Uber runs 800 million dollar loss in third quarter
The taxi-app Uber has in the third quarter of 2016, with a loss of 800 million dollars (770 million euro) ago.
This is evident from confidential financial data of the company which have been recognised by The Information and the Wall Street Journal. Uber is not publicly traded, but has the figures to investors, is presented.
In the first half of the year turned Uber also been a loss of at least 1.2 billion, say sources familiar with the figures. The results of the Chinese branch of Uber, which was recently sold to competitor Didi Chuxing, are not in the verliescijfer processed. Including the sale of UberChina was a non-recurring net profit of $ 2.2 billion.
Uber has a huge war chest – in total the company raised almost 13 billion dollars of investments and loans within. The startup has a valuation of us $ 68 billion.
The revenue of the company increased from $ 1.1 billion in the second quarter to 1.7 billion dollars in the three months afterwards. Gross revenue – the total amount that Uber collects before the company commission int and drivers pay – increased from $ 5 billion to 5.4 billion dollars.
The loss of Uber might arise from large investments in attracting new drivers to the set up of the delivery service UberEats and investigation self-propelled cars.