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Uber “lost tens of millions of dollars” since 2012, leak suggests

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Uber

For better or worse, Uber is known globally as a force to be reckoned with, but is it actually profitable?

It turns out that the company behind the ride-sharing app might be struggling to keep its coffers topped up.

That’s according to leaked financial documents published online by Gawker, which appear to show that Uber is operating at a significant loss.

The documents suggest that the firm’s balance sheets are negative by several million dollars each quarter.

For instance, in the second quarter of 2014, the documents show a $100m operating loss.

uber profit

Image credit: Gawker

Uber responded to the leak in a statement given to Business Insider:

Shock, horror, Uber makes a loss. This is hardly news – and it's old news at that. It’s the case of business 101: you raise money, you invest money, you grow (hopefully), you make a profit and that generates a return for investors.”

The company has never officially revealed its profits and losses to the public, so this is our first glimpse at the inner workings of the firm.

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Uber recently closed a funding round that saw the company valued at just over $50 billion.

The round, of which Microsoft was one of the backers, racked up an impressive $1 billion for the firm.

The company has revealed plans for expansion, pledging to grow in India and China with $1 billion investments respectively.

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