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Nairaland Forum / Nairaland / General / Travel / Uber Loses $708 Million In The First Quarter Of 2017 (21019 Views)
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Re: Uber Loses $708 Million In The First Quarter Of 2017 by AdeOlum: 6:26pm On Jun 02, 2017 |
ephi321: Uber sells one dollar to users as 75 cents. Also, Facebook and Google were monopolies when they started as they didn't have direct competition as such, so they burned less money. MySpace couldn't replicate exactly what Facebook was doing, as they literally had to migrate all your friends from Facebook. Google didn't have any serious competition, the incumbents were doing serious crap at that time. Amazon started when the internet was just starting, so they literally had no competition too, so they could scale up quickly before people started competing with them. They had like 5 or more years headstart. Yet, they only started posting consistent tiny profits after 20 or so years of operation. But in Uber's case, as early as a year after they launched their now popular low-end ride hailing, they already got competitors raising billions, so they have had to be brutal with marketing, subsidizing fares etc. |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by ephi321(f): 6:33pm On Jun 02, 2017 |
AdeOlum: Very informative, thanks. But the main aim of any business is to make money, there is no point if they fold up despite high revenues so they need a strategy to manage their competition. |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by AdeOlum: 6:44pm On Jun 02, 2017 |
ephi321: Exactly. Just like Amazon, they'd be playing "money games" for a long time... until they find another separate business that'd be responsible for bringing in the profits (just like Amazon subsequently found AWS Cloud [which accounts for all Amazon's profit now]). Then, the core ride hailing can keep burning money and growing the top line, while the other business would be supplying the profits, to keep investors happy. For now, Uber still has enough time to find that "other business". 1 Like 1 Share |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by realnas(m): 7:12pm On Jun 02, 2017 |
Serves that arrogant Travis kalanick right |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by walexsho(m): 7:33pm On Jun 02, 2017 |
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Re: Uber Loses $708 Million In The First Quarter Of 2017 by walexsho(m): 7:33pm On Jun 02, 2017 |
This UBER can lie !!!! for Afrika
na them own the car or dem dey fuel and repair the cars for the owners? |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by walexsho(m): 7:42pm On Jun 02, 2017 |
probably out of 2 billion dollar profit, they decided to sacrifice 702 million dollar through fare subsidy. |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by blacknp(m): 8:31pm On Jun 02, 2017 |
solpat:I'm sure the Naija wailers will blame President Buhari for Uber's low revenue. |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by coretechng1(m): 8:56pm On Jun 02, 2017 |
ephi321:If fact thats what came to my mind.No fuelling,no car repairs,simply app. Maintaining their servers though. |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by pmc01(m): 9:01pm On Jun 02, 2017 |
Oildichotomy: AdeOlum: linearity: Meritocracy: Thanks |
Re: Uber Loses $708 Million In The First Quarter Of 2017 by Nobody: 9:58pm On Jun 02, 2017 |
Under is a thief!!! Have they ever recorded any profit I haven't heard of one and yet they keep expanding! |
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