Uber has burnt $10.7 billion in nine years

Uber has burnt $10.7 billion in nine years

Without making a single profit, Uber, the world’s most valuable startup company is burning money in record proportions.

Within nine years of its founding, Uber has spent over $10.7 billion with no visible path into profitability.

In comparison Facebook and Google are already making bigger revenues and even profit at point of lesser cash burn.

Despite this huge cash burn, Uber is still the largest ride-sharing company in the world and its business potential and growth opportunities are huge as well.

For instance, ride sharing as a percentage of total passenger rides is still less than 1% of the total market. Uber has also increased its coverage into emerging markets including Nigeria but it is facing competition from smaller players such as Taxify and Ola.