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Uber Calls Itself The “Amazon” Of Ride Hailing, Has No Profit, No Plans

Uber is a debutant in the public market. They are expecting the investors will stock up shares of Amazon instead of its opponent, Lyft. Uber is planning to compete in the public share market by comparing itself with Amazon. In this pre-IPO roadshow, Uber is trying to justify the billions of dollars it is losing.

There is a solid reason why Uber decided to compare itself with Amazon. When the e-Commerce giant started in 1997, the share price of the company was $18. Now the price of each share of Amazon is $2000. On the other hand, Lyft started with $72 share price in March 2019. The price plunged to $57. When Uber was asked for a comment on its roadshow pitch, the company opted not to provide any answer.

Most of the companies who enter the IPO market without having much profit highlight Amazon as an example. This is because; this online shopping site has succeeded in the public market though they have suffered from monetary losses multiple times.

Amazon faces loss of $1.85 billion as an adjusted EBITDA amount in 2018. The company has also encountered a slowdown in the rate of revenue generation. Amazon also reported loss of $1 billion from its operations in the 1st quarter of 2019. The company has informed about the same in its S-1 filing which took place in the previous week. The company was also the one to debut in the public market without having any profits. It had informed them that they were planning to go for investments in new markets. This is also the same plan which has been reported by Uber.

Uber is also found to be declaring it proud to be able to invest in different business areas; this is also the same act by Amazon.

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George Morris

As Head of editing, George brings to the table over a decade of experience in Industry Research and Internet Marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. George is an expert at delivering precise, engaging and detailed updates from around the world. His interests lie in writing news articles on newly launched Technologies, Software Products & Social Media happenings.

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