Amazon is everyone’s favorite example of a company that lost money to make money. But Amazon has nothing on Uber.
Uber Technologies Inc. today revealed its registration statement for an initial public offering (IPO) widely expected to value the company at $100 billion or more. The filing makes clear the massive losses Uber accumulated on the road to such a lofty valuation, with details previously shared only with private investors and a small circle of media.
In 2018, Uber made $997 million, thanks to a one-time impact of selling its international businesses. The year before that, it lost $4 billion. From 2014 through 2018, the five years for which Uber reported financial data, the company lost a cumulative $6.8 billion.