Has a chaotic and expensive year had a major effect on Uber?

Sean Reid
February 18, 2018

Despite this, Uber managed to narrow its losses in the last three months when compared to the previous year, from $1.46bn in 2016 to $1.1bn in 2017.

Last Friday, Uber settled a lawsuit brought by Google, which accused it of stealing its technology and infringing its patents. While Amazon had nearly $178 billion in sales in 2017, net income was $2.24 billion. All said and done, Uber ended the year with around $6 billion in cash, 13 percent lower than 2016.

Everything being said, but the courtroom has not yet been able to get the answer for the basic question associated with the tactics utilized by the organization extends to stealing the crucial information relating to the development of the self-driving auto technology.

'It looked messy and it was messy, ' Khosrowshahi said.

Uber's CEO offered an amibitous vision for the company, saying he didn't want it to be seen as purely a car-for-hire company - but one that would take any person on any transit system - "from point A to point B, whatever the best way".

'I thought Travis was terrific, ' Khosrowshahi said. The CEO said that while he's somewhat uncomfortable running a money-losing business after joining from profit-generating Expedia Inc., it's the right strategy for Uber.

Khosrowshahi's comments come just days after Uber settled a lawsuit in which Waymo, the self-driving auto company owned by Google parent Alphabet, had accused it of stealing trade secrets. The fact that neither side was happy with the settlement was proof that it was a good deal for both sides, the CEO said.

Uber recently won a $1.25bn investment from Japan's SoftBank, which has acquired a 15% stake in the group. According to Crunchbase, Uber is considering going public in 2019.

Uber and its ride-hailing service had already been tarnished by the company's acknowledgment of rampant sexual harassment within its ranks, a year-long cover-up of a major computer break-in, and the use of duplicitous software to thwart government regulators. By taking a "hybrid approach", he predicted that Uber's network of human drivers would only grow, even as Uber introduces autonomous vehicles. "My father always told me if you can run a verb, say 'yes'".

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