The ride-hailing juggernaut Uber has reported another multimillion-dollar loss even as its revenues grow.
The San Francisco-based company said Thursday that its losses in the first quarter narrowed to US$708 million from $991 million in the previous three-month period.
Uber said it had $3.4 billion in revenue for the period, 18 per cent higher than the final three months of last year.
The company is not publicly listed but has been mulling an IPO. “The narrowing of our losses in the first quarter puts us on a good trajectory towards profitability,” it said.
Uber also said it is launching a search for a chief financial officer as its head of finance, Gautam Gupta, departs, becoming the latest high-profile executive to leave amid a string of troubles facing the company.
Mr Gupta worked for the company for four years but was never promoted to the chief financial officer position. This year the company has also lost its head of communications, president and other senior executives as it faces allegations of sexism and sexual harassment in the workplace.
* AP
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
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