Despite Immense Growth, Uber Still Lost RM12.3 Billion Last Year
The company released its numbers to the public for the first time.
Popular e-hailing service Uber has revealed its financial numbers for the year 2016 and it's not looking pretty
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
The numbers come out as Uber is trying to address a number of issues concerning workplace culture and its CEO, Travis Kalanick
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
Uber’s head of public policy and communications, Rachel Whetstone, quit the company just less than two years after it poached her from Google.