Thursday, October 29, 2015

Uber reportedly, spending 'hundreds of thousands' of dollars a day offering discounted fares.

      Is Uber Getting Ubered?

Uber is said to be planning to try and raise another billion dollars on top of the $8 billion it has already raised.

It's said, Uber is looking to raise its new funding round at a valuation of $60 billion to $70 billion. Its last funding round in July was done at a valuation of $50 billion.

Apparently Uber tells investors that the ultimate game plan is to become a delivery service like Fedex - using private cars to deliver parcels, shopping and meals. 

However it does not appear to have had any success with this aspect of its business.

To get into the China market, Uber is, reportedly, spending 'hundreds of thousands' of dollars a day offering discounted fares.

In August, leaked financial documents showed operating losses of more than $100 million in The second quarter of 2014

Rio de Janiero has declared the service illegal, London is looking tighter regulations and a couple of execs are being tried in France in a case deferred till February. Thailand, Singapore and Vietnam are considering regulation while numerous cities are investigating the controversial service.


Brian said...

Krafty Kalanick is sitting pretty.
Should Uber be consumed by the black hole of investor debt, weak govts & regulators will be blamed for caving in to vested interests and failing to run with new technology. In the meantime Travis will have trousered trillions in well deserved mega salary, and will probably have enough dough not to have to do the knowledge.
If Uber succeeds....the world is his lobster.
Goldmann Sucks & the other investors must be getting a little nervous that Travis is back for another Billion.
Reminds me of my kids, ' lend me £20 Dad...'

Anonymous said...

A lawyer in the back of the cab told me,let Uber burn itself out. Don't ban it or it will be like a wounded dog. Everyone will start patting it. He said you guys are unique and no one in the world can compete with you.

Anonymous said...

At the end of the day it's just a minicab firm

Anonymous said...

Just put their rate up from 20% to 25% for new drivers,

Anonymous said...

What type of idiot gets in a car with an un vetted driver that is lost, can't drive, can't use a satnav, hasn't got a clue where they are or where they are going. Uber make ordinary PH companies look like professionals. Smart technology for dumb punters. And they call themselves a service 😂

I guess the type of idiot would be the kind of idiot that voted Tory, ends up £1800 quid a year worse off and goes on Question Time to cry about it !