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How Uber is losing money as it goes public

How Uber is losing money as it goes public

FINANCIAL NEWS

How Uber is losing money as it goes public

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Uber is hitting the public markets on Friday and it’s valuation could top $90 billion. The world’s biggest ride-hailing business is debuting six weeks after smaller rival Lyft.

But Uber is far from making money. It reported an operating loss of $3 billion in 2018 after losing more than $4 billion the previous year. Still, not all investors are scared away from Uber’s red ink. Some analysts predict it will eventually turn a profit.

Watch the video to learn how Uber spends money and what it will take for the business to become profitable.

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