Uber reveals its is losing more than $1bn a year in China
February 19 , 2016
Struggling against a fierce competitor from a local ride-hailing company, Uber, an app-based car-hire service, has said that is losing more than $1bn. According to media reports, the admission was made by Travis Kalanick, CEO of Uber, at a private event in Vancouver. Reports later confirmed the $1bn figure with Uber China.