• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, June 23, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Inspite of Double the Bookings, Uber lost $2.8 Billion in FY16!

by Chinmay Bidkar
April 15, 2017
in News
Reading Time: 2 mins read
0
Uber lost 2.8 billion
TwitterWhatsappLinkedin

Uber lost 2.8 billion

You might also like

Tesla Shifts Gears: India’s First Tesla Showrooms Open in Mumbai and Delhi

Rohit Vishwakarma Joins NDTV India as Managing Editor

Apple Eyes AI Startup Perplexity in Acquisition Discussions

15 April 2017, USA:

The ride-hailing service Uber, for the very first time, opened up about the finances. The company shared financial data with Bloomberg, which shows the company is generating revenue but also losing money.

Uber more than doubled gross bookings to $20 billion in 2016, compared to 2015, the report said. Out of the $20 billion, Uber made $6.5 billion, excluding its China business, which was sold last year. However, Uber still lost $2.8 billion, also excluding China, the company revealed.

Also read- LOSSES, CASES, SEXUAL HARASSMENT- UBER IS READY TO REJUVENATE

In the fourth quarter, Uber both increased its bookings and upped its losses, according to the report. Uber’s gross bookings rose to $6.9 billion in Q4, but its losses teetered close to a billion at $991 million. Uber generated $2.9 billion in revenue in the fourth quarter alone.

Uber said it uses generally accepted accounting principles. Revenue includes only the portion Uber takes from fares, except in the case of its carpooling service; the company counts the entire amount of an UberPool fare as revenue. The more Uber’s business shifts to the multi-passenger service, the faster revenue grows. Non-GAAP revenue is significantly smaller. The loss statement doesn’t account for employee stock compensation, certain real-estate investments, automobile purchases and other expenses.

Valued at $69 billion by investors, Uber operates in about 75 countries. The company was spending aggressively to compete in China, with about $1 billion in losses there last year, bringing its losses to $3.8 billion globally. It sold the China business in August. As part of the deal, it received an 18 percent stake in local ride-hailing company Didi Chuxing and recognized the value of those shares in its financial statement. Uber said global net losses were $1.2 billion after accounting for the sale, taxes and other factors. (Image- Exotic Whips TV)

Also read- APPLE APPLIES PATENT FOR NEXT BIG THING IN DISPLAY TECHNOLOGY: THE WOVEN DISPLAY
Tags: Cab serviceLyftTravis KalanickuberUber lost $2.8 billion
Tweet54SendShare15
Previous Post

7 Ways to Create a Trademark Logo to Woo the Target Market in 2017

Next Post

Shiv And Steve’s Exclusive On Before Uber And Uninstall Snapchat

Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

Recommended For You

Tesla Shifts Gears: India’s First Tesla Showrooms Open in Mumbai and Delhi

by Ishaan Negi
June 23, 2025
0
Report suggests Musk cancelled India trip to secure fully self-driving car technology deal in China

After years of speculation and stalled negotiations, Tesla is finally entering the Indian market. In this article, we’ll explore how Tesla plans to make its mark in one...

Read more

Rohit Vishwakarma Joins NDTV India as Managing Editor

by Ishaan Negi
June 23, 2025
0
Rohit Vishwakarma Joins NDTV India as Managing Editor

Appointing Rohit Vishwakarma as its new Managing Editor is a calculated move by NDTV India that demonstrates its dedication to digital transformation and reliable journalism. Vishwakarma has more...

Read more

Apple Eyes AI Startup Perplexity in Acquisition Discussions

by Sneha Singh
June 23, 2025
0
Apple Eyes AI Startup Perplexity in Acquisition Discussions

Apple executives are quietly exploring the possibility of acquiring artificial intelligence startup Perplexity AI, according to sources familiar with the matter. The tech giant's interest stems from its...

Read more
Next Post
Shiv And Steve’s Exclusive On Before Uber And Uninstall Snapchat

Shiv And Steve's Exclusive On Before Uber And Uninstall Snapchat

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?