Uber’s losses keep piling up ahead of planned IPO [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Uber’s losses keep piling up ahead of planned IPO Technology companies rarely make money before they go public. Twitter was unprofitable when it listed on the stock market. So were Snap, Spotify and SurveyMonkey. For Uber, the question as the ride-hailing giant prepares for a public offering is even bigger than whether it can make money. That’s because the company, the most prominent tech startup of its generation, will set the bar for other well-known tech companies like Slack and Lyft as they also stampede toward the stock market this year. So far, Uber is not doing itself any favors on profits. Story continues below advertisement The company reported Friday that it had narrowed its net loss in the fourth quarter of 218 from a year earlier. But excluding certain one-time items, including the sale of some of its businesses, Uber’s losses for the quarter rose 88 percent compared with the previous year, to $842 million. The losses were a result of Uber increasing its spending as it tri
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