More About Uber
Uber is the top most venture when it comes to technology across the globe. The reason is a rather very expensive way to set up the market to stay on top of all. But little do all know that Uber had issues finding investors in the initial stage as the concept didn’t excite many of them. Later it took a fast-paced lane and invested a good amount to earn a total revenue of $37 billion last year out of which most goes to the drivers. The final revenue calculated was about $7.4 billion which was way low than compared to those in the same business.
Uber has been known to play hard to spill the beans on its revenue generation. This is more of a difficulty for stake holders to know how much investor’s money was spent. It was founded about 9 years ago and since then it has spent around $10.7 billion from the investor’s kitty which is very huge. Bloomberg has collated the data for the past decade and found that none of the companies have burned such a huge amount in its initial stages apart from one company in North America as compared to Uber in 2017.
Over the years
Uber has been in the books for the kind of losses it has shown. A total of $17.3 billion was invested by the investors which is still at stake as it is yet to revive from such huge losses. The companies that run into such losses promise to revive with a strong backing plan but takes almost a couple of years to do so. Amazon was the only e-commerce company to report a loss of around $2 billion which was recovered the next year with a huge profit margin. Uber also has plans in place but we will have to wait and watch until the real figures float in.