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Uber loses at least $470M / year, if not more (unsure if the number is per quarter, half-year, or full year) [1]. Lyft's struggles have nothing to do with thei
by argonaut 11y ago
Uber loses at least $470M / year, if not more (unsure if the number is per quarter, half-year, or full year) [1].
Lyft's struggles have nothing to do with their losses, and all to do with the fact that they're losing the market to Uber.
[1] http://www.businessinsider.com/uber-reportedly-operating-at-a-470-million-loss-2015-6 http://www.businessinsider.com/uber-reportedly-operating-at-...
- HappyTypist 11y agoUber lost 470m/period. As the article mentions, these figures are outdated by a number of years and completely irrelevant - Uber is hitting more than 2.5 billion in revenue (commission) this year. According to public information, Lyft is losing approximately 3 to 5 times the amount of money per ride.
- viscanti 11y ago> According to public information, Lyft is losing approximately 3 to 5 times the amount of money per ride. And it sounds like they're struggling to gain market share even given those subsidies.
- argonaut 11y agoIf those numbers are indeed out of date (I'm not taking an Uber spokesperson's word for it), I would be inclined to believe they are losing even more than $470M/period, given their extremely aggressive expansion and extremely aggressive fundraising.
- HappyTypist 11y agoIn China, yes, but recent Uber aggression has been anything but aggressive. Just look at driver referral incentives been slashed from $750 to $200 (if you're lucky).