Posted 07/02/2015 at 9:02 AM
Posted 2 years ago
The on-demand car service startup Uber Technologies Inc. has been exhibiting some serious growth and has gotten a flattering comparison as a result even if it they’ve gone through rough patches to do so.
Uber’s growth has compelled observers to liken it to Amazon.
Mainly because Uber’s mission is to expand its operations as rapidly as possible on a global scale and to not concern itself with the short-term promise of immediate profits.
Another facet to that strategy is to not be that concerned with their losses; in an outside report given to potential investors, it’s been stated that Uber has a loss total of $470 million as opposed to gains of $415 million.
Uber representatives view those numbers with skepticism.
Amazon for a stretch of years was deemed a company that wasn’t profitable despite their growing presence.
But after going public in 1997, the company underwent a tough road towards stability that saw them trim their workforce and losses in subsequent years in the early 2000’s.
Uber’s road may see the same bumps but with new ventures into messenger services and food delivery along with increased expansion in other cities, they’re hoping that their losses decline just as fast.