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Note that all revenue numbers are gross not net. In other words, they represent total fare $, not the 15% of fares that Uber actually gets.
by calcsam 12y ago
Note that all revenue numbers are gross not net.
In other words, they represent total fare $, not the 15% of fares that Uber actually gets.
- PeterisP 12y agoThe data includes (and the article analyzes) both gross and net numbers, and also the profit remaining after marketing burn and other costs.
- Narkov 12y agoCounting gross fares as revenue is about as honest as Groupon counting customer receipts as revenue. We all know how that worked out.
- wdr1 12y agoHow is this deceptive? They never intended it for external release.
- 001sky 12y agoPeople use confidential figures for fundraising all the time. Just because its not public doesn't mean its not being used to trade off. That being said, the accounting issues are technical and sort of a side point. Private investors at this stage ($10BN+ valuation) can do their own math. Its more frame of mind of hyperbole that is relevant, IMHO.
- Narkov 12y agoSee Groupon for how the market treats these kind of tricks: http://blogs.wsj.com/deals/2011/09/23/groupon-ipo-revenue-corrected-for-error/ http://blogs.wsj.com/deals/2011/09/23/groupon-ipo-revenue-co... It's also why Google separates "Traffic Acquisition Costs" in their reporting.
- pbreit 12y agoDo you know that?
- bhouston 12y agoUber is full of leaks right now. In part this can server to change the topic discussion when it comes to Uber.