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Did I read the article correctly that uber, lyft are not profitable yet? That's news to me as I thought they were very profitable given the amount of media atte
by educar 10y ago
Did I read the article correctly that uber, lyft are not profitable yet? That's news to me as I thought they were very profitable given the amount of media attention and visibililty they gave got. Are companies like say slack and github profitable? They also get so much attention (atleast here on HN).
- fullshark 10y agoThey are burning cash trying to get market share.
- tim333 10y agoGithub interestingly used to be profitable "We bootstrapped the company on a few thousand dollars and became profitable the day we opened to the public and started charging for subscriptions." They seem to have ditched that for the VC funded, hire loads of people, swing for the fences model. http://tom.preston-werner.com/2011/03/29/ten-lessons-from-githubs-first-year.html http://tom.preston-werner.com/2011/03/29/ten-lessons-from-gi...
- dragonwriter 10y agoMedia attention is often driven by raising and spending VC money, rather than running a profitable operation.
- jsprogrammer 10y agoUber has sold $2.2 billion in equity in 2016 and $10.5 billion overall (I believe there is substantial debt as well). Do we know the total trip count? Uber would need to have made roughly $1.50 per person on the planet to have broken even.
- robbiemitchell 10y agoCorrect, Uber is not yet profitable. A few months ago I was told by a former employee that average LTV in the US is $15. First-time ride credit is more than that ... plus all other expenses. I have a feeling this isn't about averages, though. Some people use every so often, some make it a way of life.