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Uber announced its biggest loss of all time in three months, from April to June, with $ 5.2 billion.
This news, combined with weak revenue growth in the same quarter, resulted in a stock price loss of up to 10%. What happened to one of the largest companies in Silicon Valley?
According to the Wired news site, Uber 's global application is facing mbadive competition from a saturated market in terms of pbadenger sharing and food delivery.
For example, in the United States, it is heavily competed by Lyft, in the United Kingdom by Bolt, in India by a large market share, Ola Cabs, and in Russia, there is Yandex Taxi. In the United States, GrubHub, Postmates and DoorDash compete fiercely.
However, competitors are not the only cause of the loss: it was paid $ 3.9 billion in stock-related compensation paid by the company to its employees. However, the company continues to venture into new markets, as does its partnership with Cargo, a startup that allows drivers to sell items such as glue, phone chargers and snacks in their cars.
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