This company is doing ‘Uber’ well
Uber killed it… in the second quarter. The ride-share company’s quarterly revenue was up 63% compared to last year. Gross bookings also increased by 41% to nearly $12 billion. With such an impressive rate of growth, it is no wonder why this private company continues to release results when they are not even required to.
Investing in the future… and in case you haven’t noticed, the company is moving way beyond cars. Uber is delving into the bike-share and scooter-share markets, as well. The company also operates UberEATS and is investing heavily in the Middle East and India.
Pay attention closely… because Uber could be going public as soon as 2019 and begin profit-sharing for the first time. However, for everything great the company is doing, they still have their fair share of issues. These issues include regulatory hurdles, such as New York City limiting the number of ride-share vehicles allowed in the city. Why does the “man” always gotta bring us down?