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Home / Views / Tech

Your Uber and Grab taxi rides are about to be disrupted

Tech

Your Uber and Grab taxi rides are about to be disrupted

Assif Shameen Published on Mon, Sep 05, 2016 / 3:19 PM GMT+8

A-

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SINGAPORE (Sept 5): Uber, the global giant of ride hailing, which at the last round of its fundraising was valued at US$68 billion ($92.7 billion), lost US$1.2 billion in the first half of this year compared with a US$987.2 million loss in the same period last year.

The biggest expense for Uber is not R&D for its proprietary software or algorithms or, indeed, marketing and customer acquisition, but driver subsidies.

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