Uber’s woes and losses grow
October 9, 2017 -- Uber has suspended its unlicensed UberPOP service in Norway’s capital, Oslo. Uber recently lost its license to operate in London, and several other European capitals have also banned the service.
Uber lost $671.4 million in 2014, $1.68 billion in the first half of 2015 and $2.8 billion last year.
Uber appears to be operating on a “scale first, revenue second” principle, losing money to gain market share in emerging markets that have fierce incumbent taxi services.
According to one projection seen by theinformation.com, Uber could generate an $8.2 billion profit in 2019 from $22.7 billion in net revenue. During the next four years, according to the projection, Uber would expect to generate nearly $14 billion in profit in developed markets.