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From link.

Uber Loses at Least $1.2 Billion in First Half of 2016

After touting profitability in the U.S. early this year, the ride-hailing company is said to post second-quarter losses exceeding $100 million.
 
What costs does Uber have to drive up such losses? The app is developed, you don't need to advertise it, you've to insurance costs which presumably are deducted from drivers' payouts. I suspect someone is taking money out of the company, moving it elsewhere or paying off investors who want out.

For example, $500 million has likely been removed and placed into a separate company here http://fortune.com/2016/07/31/uber-mapping-google-alternative/

And they've likely moved money into their food delivery unit, http://www.businessinsider.com/uber...n-its-food-delivery-business-in-london-2016-7
 
Admiral Beez said:
What costs does Uber have to drive up such losses? The app is developed, you don't need to advertise it, you've to insurance costs which presumably are deducted from drivers' payouts. I suspect someone is taking money out of the company, moving it elsewhere or paying off investors who want out.

For example, $500 million has likely been removed and placed into a separate company here http://fortune.com/2016/07/31/uber-mapping-google-alternative/

And they've likely moved money into their food delivery unit, http://www.businessinsider.com/uber...n-its-food-delivery-business-in-london-2016-7
Click to expand...
They pulled UberHop in Toronto. Not sure about elsewhere. It could have been a money losing experiment
 
PinkLucy said:
They pulled UberHop in Toronto. Not sure about elsewhere. It could have been a money losing experiment
Click to expand...
They seem to have replaced it with a new flat-rate UberPool pricing. During commute hours, anywhere in the zone shown below is a flat rate of $6:
https://www.google.com/maps/d/u/1/v...5.1443203301&mid=1Y6gQ__dc9K-1KFMBYPVy8QCpw8M

Could be convenient for people poorly served by rapid transit lines. Then again, UberPool can be a bit of an adventure in a negative way if you pick up or drop off lots of people.
 
I've become a big fan of Uber taxi. I like using the app for the easy hailing, ETA and route tracking and the cashless payment, while I still like supporting the professional driver. I don't really care about the cost difference versus UberX.
 
Admiral Beez said:
I've become a big fan of Uber taxi. I like using the app for the easy hailing, ETA and route tracking and the cashless payment, while I still like supporting the professional driver. I don't really care about the cost difference versus UberX.
Click to expand...

Have you tried the Beck app?
 
Admiral Beez said:
Does the Beck app offer any advantages over Uber Taxi?
Click to expand...

All the money goes to Beck/driver instead of Uber taking a percentage of the fare. Depends on your view of Uber I guess.

-Paypal is an option of payment through the app.
-There's an option to say that you have a dog coming with you if you have one.
-You can select either a sedan, minivan, or accessible car to pick you up.
-You can specify a time for a car to pick you up.

Not favoring one or the other, just curious if you had used it since you mentioned that you liked supporting the professional drivers.
 
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