Uber Lost $1.8 Billion in 2018 Despite Record Ride-Hailing, Food-Delivery Gains
Uber posted $50 billion in bookings for its ride-hailing and food-delivery services in 2018. However, the company still failed to turn a profit and its revenue growth slowed toward the end of last year, reports Reuters. That's bad news for Uber as the company looks to charm investors into an initial public offering (IPO) later this year.
Annual bookings were up 45 percent over 2017, according to Uber. Even then, the company's losses before taxes, depreciation, and other expenses still totaled $1.8 billion, down from the $2.2 billion loss the company posted in 2017. Uber's full-year revenue for 2018 was $11.3 billion, an increase of 43 percent from 2017.
Previously: Uber Posts $1 Billion Loss in Quarter as Growth in Bookings Slows
(Score: 2) by c0lo on Monday February 18 2019, @03:43AM
Eventually, it will.
Many will (financially) die in the process until this will happen, though, and they won't necessary be among the "early round investment angels" - the vulture capitalists invented this game. And many of the game rules aren't public enough.
Agenda: we (the vulture capitalists) are greedy, lets exploit the greed and gullibility of others.
1. we create a "business" which we will assert it will be profitable if it reaches a big size quickly [wikipedia.org] (use Google and FB as examples)
2. we invest some hundred of millions into it, in many investment rounds, to create and feed the necessary buzz. We'll take care to do it taking some preferential share types (to be paid on call at the "market value" if we want to retreat earlier)
3. as the time progresses and the business shows growth in "consumer interest", we "generously" open investment rounds to others - pension/equity funds, etc - to the tune of billions to hunded billions. Of course, we'll pay and publish "market value estimates" because the JOBS act allow us to keep mum about our finances before reaching a certain size [wikipedia.org]
4. if the business shows growth and maybe it is actually an unicorn, we'll go public and we made it. If it fizzles and the sucker pool show signs of going dry, we are going to recoup our investment "at the market value" well ahead of the others due to the "preferential shares" that we owned. Otherwise, we'll continue keeping up anyway as long as the sucker pool still has plenty.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford