Uber is not a profitable company

@scheng1 (24806)
Singapore
April 22, 2017 6:40am CST
I wonder how long will Uber last. Uber is definitely not a profitable company. The losses are not counted in millions of dollars. Every year, Uber lost billions of dollars. At this rate, sooner or later it will declare bankruptcy and close down.
3 people like this
4 responses
@akp100 (13328)
• India
22 Apr 17
I wonder if situations are the same for every country. Though it is still new thing. I mean it got introduced few years back only. So far doing okay.
1 person likes this
@scheng1 (24806)
• Singapore
23 Apr 17
The parent company is in US. Even if it makes a profit in one country, it does not manage to be profitable when they add up the revenue and cost for all the countries. Not many companies can keep on making billion dollars of losses, and yet continue.
1 person likes this
@akp100 (13328)
• India
23 Apr 17
@scheng1 Well, I don't know about that at all. Its still new company here and I guess people are liking them as service is quite good. Hope they will not shut down their door in near future.
1 person likes this
@scheng1 (24806)
• Singapore
23 Apr 17
@akp100 It is not a new company. I think it has been around for more than 5 years, and every year, the loss gets greater and greater. They lost a lot of money in China, and in the end, they had to pull out from China.
1 person likes this
@youless (91157)
• Guangzhou, China
24 Apr 17
I don't know that at all. I thought it was a successful company because it has a big market in many countries. In my country, Didi and Uber are main companies provide private car servies. But later Didi and Uber combined together and there is no competition any more. The price starts to increase and this is why today I hardly use it again.
1 person likes this
@scheng1 (24806)
• Singapore
24 Apr 17
Actually they do not combine together out of good will. Didi and Uber had a price war, and Uber lost. Didi bought over Uber, and Uber gave up on China. That was why they wrote down billion dollars of loss.
1 person likes this
@youless (91157)
• Guangzhou, China
24 Apr 17
@scheng1 It is crazy when they had the price war. It is just like burning money.
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@scheng1 (24806)
• Singapore
24 Apr 17
@youless yes, customers win, and investors lose. In the end, price war has to come to an end, and customers lose.
1 person likes this
• United States
24 Apr 17
I never rode an Uber but it is so popular here.
1 person likes this
@scheng1 (24806)
• Singapore
24 Apr 17
Many drivers are making a living wage since Uber starts recruiting. Uber has to start making a profit, else it will not be long before it closes down. No company can sustain a loss of billions year after year.
1 person likes this
• United States
24 Apr 17
@scheng1 Yeah here you see most cars have Uber and Lyft to work
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@Mike197602 (13369)
• Worcester, England
22 Apr 17
seems to be doing ok in the UK. I think it'll be around for a while yet.
Uber’s growing popularity has been confirmed after new accounts revealed the taxi technology’s drivers billed more than £100m in UK fares last year, leading to a doubling of profits at its parent company.
1 person likes this
@scheng1 (24806)
• Singapore
22 Apr 17
Still not able to reverse the trend of losses. According to some estimates, Uber lost 3 billions in 2016, and 2 billions in 2015. The loss in 2016 is partly due to the stiff competition in China, and after spending so much money there, they have to pull out of China market.
1 person likes this