Friday, August 9, 2019

The FT's Izabella Kaminska Has Some Thoughts On Uber

Ms Kaminska has been writing about Uber for at least half of its 10-year existence.
A Google search of Alphaville returns 4400 hits:
site:https://ftalphaville.ft.com Izabella uber
Granted, a lot of those are fans reposting her stuff (ahem) but my best guess is she's penned scores if not hundreds of unique takes on the goings on at Uber.
Here's the latest, from FT Alphaville
Back in September 2016, we cited a BCA report which questioned Uber’s $62.5bn valuation, arguing its model was neither innovative or viable.
Unfortunately, the report didn’t really register with the great and the good who have money to burn. Ahead of Uber’s IPO in May, a valuation of as much a $120bn was being thrown about by some enthusiastic bankers.
Fast forward to August 8, and Uber has truly beaten even the most extravagant of money-burning expectations.
Here’s the Q2 results table, possibly in need of framing:
The quarterly net loss, which hit $5.2bn vs $878m a year ago and included $3.9bn in stock-based compensation expenses related to the IPO, was spectacular in its own right. (On an adjusted basis the EBITDA loss came in at $656m, which marks an improvement on Q1.)

But the thing that really hit market sentiment was the slowdown in revenue growth at 14 per cent to $3.2bn....
....MUCH MORE