Here’s why it’s okay that Uber is losing a lot of cash right now
Aug05
Gawker has got its hands on some internal Uber documents, apparently showing the company’s quarterly profit and loss over the past few years. It seems everyone’s favorite Silicon Valley Unicorn loses quite a bit of money. From the article: Another document, laying out quarterly profits and losses in 2012 and part of 2013, shows the same dynamic: healthy growth in revenue coupled with steady, deepening losses. In 2012, Uber’s losses totaled $20.4 million; from the first quarter of 2012 until mid-2013, quarterly losses more than doubled from $3.5 million to $8.1 million. The losses are explained as Uber paying drivers…
This story continues at The Next Web