Uber lost R11 billion in third quarter of 2016

Uber lost more than $800 million (more than R11 billion) in the third quarter of 2016, according to Bloomberg.

The company doesn’t make its results known publically.

However, Bloomberg quoted someone familiar with Uber’s results.

The ride sharing firm should exceed $5.5 billion (R77 billion) in revenue for the year.

Uber is valued at $69 billion (R969 billion).

That’s more than the combined value of General Motors and Twitter.

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Article brought to us by Old Mutual.


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