Uber generated $6.5 billion in revenue in 2016


Ride-hailing service Uber, the South African branch of which is doing well, and recently launched Uber Assist, generated some $6.5 billion in revenue during 2016. According to Reuters, its adjusted net loss was $2.8 billion – excluding the operation in China, which it sold last year.

In a statement, Rachel Holt (pictured), Uber's regional general manager for the US and Canada, said:

"We're fortunate to have a healthy and growing business, giving us the room to make the changes we know are needed on management and accountability, our culture and organisation, and our relationship with drivers."

While the private company, with a worth of $68 billion, does not report its financial results publicly, it has confirmed the figures originally reported by Bloomberg.

Uber is currently in the process of hiring a COO, though has not appointed anyone as yet.

Related articles