Uber CEO Dara Khosrowshahi would like investors to believe his company is the next version of Amazon. It's not.
Lucy Nicholson/Reuters
But Uber is largely an urban phenomenon. Rural and even suburban consumers generally rely on their own vehicles to get around. It's not clear that Uber will ever find much of a market for its core ride-hailing or even its food delivery service outside dense urban areas. Uber has been operating now for nearly nine years. Despite that, it's still racking up huge operating losses and burning through ample amounts of cash. Last year, the company lost $3 billion on its operations and only managed to post a net profit because it divested some of its money-losing overseas operations.
The dot-com downturn"stress-tested Amazon, and it came through," said Daniel Morgan, a portfolio manager and longtime tech investor at Synovus Trust."But these unicorn companies aren't really stress-tested."During the dot-com boom, Amazon faced numerous competitors in ecommerce that threatened to limit its potential markets. Many sold their products at a loss, making it tough for Amazon to operate profitably itself.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Uber looks almost nothing like Amazon despite what it plans to tell Wall StreetUber's effort to draw a comparison to Amazon is unlikely to convince investors who can clearly see where the analogy falls apart.
Weiterlesen »
US economic update; Amazon delivers; Uber IPO detailsToday's top business headlines with CNN's davebriggstv before the opening bell on Wall Street:
Weiterlesen »
Uber takes IPO roadshow to New York as demand builds upUber Technologies Inc CEO Dara Khosrowshahi and his top management team took the...
Weiterlesen »
Uber is pitching itself to investors as the next Amazon, but it's losing billionsUber will reportedly compare itself to Amazon during its pre-IPO roadshow to justify its losses as it expands its business.
Weiterlesen »
Amazon has been quietly running an 'Uber for trucking' service since last yearIt's Amazon's first foray into the freight brokerage space, which includes major competitors like Uber Freight, C.H. Robinson and XPO Logistics.
Weiterlesen »
American Express relaunches Blue Cash Preferred credit card — with cashback for Netflix, Amazon, Lyft and UberCard holders will earn cash back on new categories, including streaming services.
Weiterlesen »
Jeff Bezos reportedly had bulletproof panels installed in his office as part of his $1.6 million Amazon security operationAmazon spent $1.6 million on security for CEO Jeff Bezos in 2018.
Weiterlesen »
Uber unveils IPO terms that temper expectationsUber Technologies Inc, the world's largest ride-hailing company, plans an i...
Weiterlesen »
PayPal's latest mega-investment in Uber signals growing global ambitionsTwo massive investments by PayPal in the past few months put it in a better position to compete on a global scale.
Weiterlesen »