Friday, April 14, 2017

Uber is losing a ton — and we mean a ton — of money

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Uber is still in startup mode, losing a ton of money but also growing quickly. And by a ton we mean you could not set cash on fire this fast.

The company offered a rare look at its books (the company is still private and therefore doesn't have to divulge financial information) to Bloomberg. Uber confirmed the numbers in an email to Mashable.

The two main takeaways:

  • Users spent $20 billion on Uber in 2016, more than double what they spent in 2015.

  • Uber took in about $6.5 billion of that, but still lost $2.8 billion last year (not included in that number is its China costs, a market it recently left).  Read more...

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