Leaked Documents Suggests Uber Is 'Losing Millions'

New submitter DaneTerry88 points out an article about the financial state of Uber, poster child for the sharing economy. Documents leaked to Gawker seem to indicate the company is still far from profitable, despite its popularity. "They show operating losses of more than $100m (£65m) in the second quarter of 2014, albeit coupled with steady growth in revenue." Uber did not deny the leak, but pointed out they are still building the business, which requires a lot of investment. The company has been valued as high as $50 billion, and only a few days ago received a $100 million investment from Microsoft.

Comments

Re:The men in grey suits are upset

[Zontar The Mindless]

But when you are in a gold rush you don't spend time making detailed maps, building beautiful camps for the miners, setting up a day care, and otherwise making everything perfect. You yell "Charge!" and run at the enemy with your sword waving above your head.

Uh, what? Were you a speechwriter for George Bush or something? Talk about disconnects... *shakes head as if to clear it*

Re:Of course they're losing money

[TechyImmigrant]

> and are pretty picky about who drives for them.

So why, when I get in a normal taxi, is it driven by a scary person who looks like DeNiro in Taxi Driver, but only speaks Somalian? Yet when I get get in an Uber or Lyft car, I get someone who speaks clear English and doesn't set off my serial killer sixth sense.