UBER REVEALS STRONG GROWTH, HUGE LOSSES AHEAD OF IPO
Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market, revealing strong growth but an ongoing struggle to overcome huge losses and repair its reputation.
Documents released this week offered the most detailed view of the world’s largest ride-hailing service since its inception a decade ago.
The massive filing shows Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses over its 10 years in existence, which mirrors the same trend challenging Lyft, Uber’s main rival in the U.S.
Uber’s revenue totaled $11.3 billion in 2018, a 42% increase from $7.9
