Uber has entered into a new partnership with Moneyfarm.
Rebecca Wayman

Uber loses out on millions of pounds ahead of stock market debut

According to newly released documents ahead of its debut US stock market appearance, Uber has lost around £6.1bn during its decade-long tenure.

The car-hailing company has also revealed that US-based government regulators are investigating a malicious cover up which involved a computer being hacked for the details of countless passengers and drivers.

Uber’s chief executive, Dara Khosrowshahi, said: “Some of the attributes that made Uber a wildly successful startup - our willingness to take risks that others might not, and that famous Uber hustle - led to missteps along the way.”

Dara took over the company in August 2017, and has since vowed he will run it under ‘strong, moral’ values.

Uber’s operating losses have declined from £3bn in 2017 to £2.3bn in 2018.

One of the factors in this is said to be driver wages, however Uber has been investing in self-driving vehicles for a while. Meanwhile, the company is said to be profiting from its delivery service, which is in 500 global cities.

The UK is set to leave the EU on 31 October 2019. Are you preparing for Brexit? Complete the North East Growth Hub and Tees Valley Business Compass’ 3-minute survey →

Our Partners

Join the discussion as a guest or using , or Google

Top Ten Most Read