Despite Immense Growth, Uber Still Lost RM12.3 Billion Last Year

The company released its numbers to the public for the first time.

Cover image via Autoblog

Popular e-hailing service Uber has revealed its financial numbers for the year 2016 and it's not looking pretty

Image via Quartz

According to a report published by Bloomberg, the company managed to generate USD6.5 billion (RM28.6 billion) in revenue last year and its gross bookings doubled to USD20 billion (RM88 billion).

However, its adjusted net loss was USD2.8 billion (RM12.3 billion), excluding the operation in China it sold last year.

Despite the losses, the company is pleased that its business is still performing well even as it faces unyielding controversy

Image via BGR

We’re fortunate to have a healthy and growing business, giving us the room to make the changes we know are needed on management and accountability, our culture and organisation, and our relationship with drivers,” Rachel Holt, who runs Uber’s U.S. ride-hailing business, told CNN.

The numbers come out as Uber is trying to address a number of issues concerning workplace culture and its CEO, Travis Kalanick

Image via TIME

The company has been rocked by a number of setbacks lately, including detailed accusations of sexual harassment from a former female employee and a video showing Travis Kalanick harshly berating an Uber driver.

Kalanick is currently on the look out for a new Chief Operating Officer to help him put the company back on track.

Two of Uber's high-level executives recently said they intended to leave, and last week the company's communications head announced her departure

Image via BBC

Uber’s head of public policy and communications, Rachel Whetstone, quit the company just less than two years after it poached her from Google.

The Malaysian government recently tabled a bill to legalise e-hailing services like Uber and Grab:

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