Uber is reportedly losing close to half a billion dollars as the company continues to expand its national and global reach. News of the loss arrives after Bloomberg examined a bond prospectus and found the following information. Uber is reportedly floating $470 million in operating losses with $415 million in revenue.
The report does not state if that number is for one quarter, a full year, or another unspecified period of time.
“These are substantially old numbers that do not reflect business activities today,” an Uber representative told Business Insider. The company claims that the prospectus was not distributed by its in-house team.
The Wall Street Journal recently reported that Uber was working with Chinese investment management firm Hillhouse Capital Group. It has been reported that such funding could range from “hundreds of millions” to “one billion dollars.”
Analysts believe the Hillhouse Capital Group deal could signal Uber’s desire to go public in the near future. It is a very real possibility that the investment firm will purchase bonds that would later convert into shares at a discount to Uber’s initial-public-offering price.
The post Uber Is Operating At A Half A Billion Dollar Loss, Report Claims appeared first on Business Pundit.
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