The company is running despite a losing millions of dollars each quarter. Images of the finical documents were posted on the website Gawker. The figures suggest losses of more than $100 million last year in the second quarter. The taxi start up came out with a statement saying “Shock, horror, Uber makes a loss”. The company is valued at $50 billion and is the most funded start-up in the world.
The San Francisco based firm has seen turbulent time as they have been involved in a number of legal battle over the world.The taxi company has been banned in a number of cities in Spain, Thailand, India and soon Germany and the Netherlands. They have been fined for $7.3 million in California after not giving regulators enough information about its service and operations, the company was accused hiding incidents which included accidents.
Uber’s undercut prices has led to Canada, France, Hong Kong, India, South Africa, the US and the UK all protesting against Uber. The protests brought gridlock in a lot of cities including London and also violence occurred in France. In South Africa, Uber has had to provide security for its drivers. In India a Uber driver was accused of raping a passenger. Numerous sexual assault accusations have been made in the US and Canada regarding Uber drivers. Many taxi drivers complain that Uber drivers do not need to pass the same tests or pay the same taxes. Uber has also had mangers in France arrested regarding ‘illicit activity’’. Uber is also facing legal action in Great Britain from taxi drivers who claim the taxi booking firm does not provide them with workers’ rights.
It seems that the Uber battles will rage on for a while but whilst the company have appeared to be strong in the past year will this leak be the tipping point for the taxi sharing firm?