3 ms·
I'm probably being dense but I don't understand the claim that "Uber is imploding". From the article: "the company doubled its gross bookings to $20 billion in
by revicon 9y ago
I'm probably being dense but I don't understand the claim that "Uber is imploding".
From the article: "the company doubled its gross bookings to $20 billion in 2016, and its net revenue (excluding China) was $6.8 billion"
The company had $2.8 billion in losses in 2016 and it puts the company's long term prospects for financial viability into question which might mean a down round on the next funding but the company is hardly about to go under.
The article title should be "Uber got a bunch of bad press and a few execs left" but I guess that doesn't drive impressions.
- DrScump 9y ago"We lose money on every transaction, but we make it up in volume!"
- revicon 9y agoDunno, this is only the eighth quarter that Amazon has turned a profit. Uber is a young company
- yodon 9y agoAmazon has continually reinvested for growth rather than profit. They are able to turn a profit any time they want, Bezos is simply managing the company for growth. Uber is a long way from ever being able to turn a profit.
- hdjddjtjtj55 9y agoThis is The Verge. It's not a site known for rigor. It's a pop culture rag, a mish mash of Maximum PC, Game Informer, and Men's Health for meme followers Not to say Uber is or isn't imploding. No clue either way
- deleted 9y ago[deleted]