Uber Is Operating At a Heavy Loss, Gawker Reports

Ride-hailing company Uber is operating with heavy losses, according to Gawker. Citing internal documents Gawker said it had obtained, the online publication reported that Uber had unaudited net losses of $56.5 million in 2013 and had an accumulated net loss of $160 million for the first half of 2014. At the same time Uber had unaudited revenue of $104 million in 2013 and then about $103 million for the first half of 2014, according to the documents. The company, which has a reported $51 billion valuation and just raised close to $1 billion, is expected to go public in the near-term. Losses are not uncommon for a fast-growing tech startup.