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Uber is growing at a rate of $3 billion in losses

Bloomberg 12/20/2016

Uber, which at a valuation of $69 billion is worth more on paper than General Motors, is said to be on track to generate $5.5 billion in revenue this year but, according to someone familiar with the company’s financials, lost over $2.2 billion in the first three quarters of 2016. Although the losses are mostly attributed to the company’s efforts at global expansion — including a failed attempt to enter the Chinese market — Uber continues to operate at a deficit in its home U.S. market as well.

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