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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.
Taxis are metered and subject to laws, if a Taxi driver scammed you report him.
As for Uber being a 'Limo' company, its not, its a Taxi service no different than a Minicab service. Uber does not curtail the scams, its been shown to display taxis that are not there simply to appear to have lots of available taxis. It has been shown to be a dirty tricks company against rivals, it has attempted repeatedly to undermine local legal administration of taxi laws, and its so bad in some countries, it flouts the court rulings till the management are arrested. It surge prices, to milk people of more money during rush hours.
It has its own scams, none of them legal under taxi rules.
Ultimately its trying to be a taxi service without the legal overhead of a taxi service to give itself an advantage and countries are having none of it.
This latest scam valuation (Microsoft buying 0.2% of the company at 100 million while actually getting a side deal of Uber implemented on its Phones and Cortana) is just another scam from them.