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Leaked Documents Suggests Uber Is ‘Losing Millions’

Aug 08

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.

Read more of this story at Slashdot.

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