Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the ride-hailing service said on Friday.
Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the ride-hailing service said on Friday. Its adjusted net loss was $2.8 billion, excluding the operation in China it sold last year, said Uber, the largest of Silicon Valley’s ‘unicorns,’ or venture capital-backed companies with a valuation above $1 billion. As a private company, now worth $68 billion, Uber does not report its financial results publicly. Uber confirmed the figures in an emailed statement after Bloomberg first reported the results.
Uber did not provide first quarter figures, but a spokeswoman said they “seem to be in line with expectations.” In a separate emailed statement, Rachel Holt, Uber’s regional general manager for the United States and Canada, said: “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 organization, and our relationship with drivers.”
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Uber has been rocked by a number of setbacks lately, including detailed accusations of sexual harassment from a former female employee and a video showing Chief Executive Travis Kalanick harshly berating an Uber driver.
The company is in the process of hiring a chief operating officer to help Kalanick manage the company, repair its tarnished image and improve its culture.