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> "only worth 28B" I feel like this statement is telling in and of itself - since when is a $28B startup with Uber's (lack of) revenue and lasting IP considere
by neilmovva 10y ago
> "only worth 28B"
I feel like this statement is telling in and of itself - since when is a $28B startup with Uber's (lack of) revenue and lasting IP considered normal?
Perhaps these numbers have yet a ways to fall.
- pavlov 10y agoUber must be doing billions in revenue, since they handle the payments on all rides ordered through their system. They're not giving free rides after all.
- honkhonkpants 10y agoThat might be one way to look at it, but I doubt that is relevant. The total money that uber handles would be equivalent to ebay's "gross merchandise volume". The transaction takes place between the rider and the driver and uber is only facilitating it. You wouldn't say that a credit card company has the entire economy as its revenue, so you wouldn't say that all ride charges are Uber's revenue.
- pavlov 10y agoThe rider and driver can't negotiate prices independently or pay through another service. Uber determines both the display price offered to the customer and the revenue share paid to the driver, so IMO the total sum of transactions really is all Uber's revenue.
- WalterSear 10y agoI'd hazard they are making billions in sales. Elsewhere in this thread they are quoted at claiming to make 20 cents per ride, $62 million total, in revenue.
- pavlov 10y agoRevenue is the same thing as sales. The $62 million number would be gross profit.