Uber Has Lost A Lot Of Money This Year

Uber Technologies Inc. has become huge, with a lot of people either using the service for rides or to be drivers. Unfortunately this year hasn’t been so giving for the company.

The ride-hailing company has lost at least $1.27 billion before interest, taxes, depreciation and amortization in the first six months of 2016, Bloomberg reported on Thursday.

According to Bloomberg which has sited sources familiar with the situation, Uber lost about $520 million in the first quarter of the year and another $750 million in the second quarter.

Goldman Sachs Group Inc and Amazon.com Inc Chief Executive Jeff Bezos are both investors in the company.

The company lost about $520 million in the first quarter of the year and another $750 million in the second quarter, Bloomberg said.
Uber is valued now at around a massive $69 billion.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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