June 24, 2017

Uber is losing billions: Here’s why investors don’t care

Street signage board with Uber Technologies Inc. logo
Copyright: moovstock / 123RF Stock Photo

The ride-hailing startup said Wednesday it lost $708 million in the first three months of the year. The financial data was paired with Uber announcing its search for a chief financial officer.

To many readers, the loss is nothing short of staggering. But for Uber’s investors, it’s actually something to be applauded.

Jason Calacanis, an early Uber investor, congratulated the company on Twitter for continuing to grow its sales while cutting its loss from $991 million in the previous quarter.

“The trend is good,” says Bradley Tusk, a political consultant and investor in Uber. “Revenue up. Losses down, even though […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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