Uber’s costly battle for the Chinese ride-sharing market helped drive losses of $1.3bn during the first half of 2016, making the San Francisco-based company one of the most deeply lossmaking in Silicon Valley.
The company, which offers transportation through its smartphone app in more than 60 countries, had been spending heavily in markets such as China and India, where it was locked in competition with local rivals.
However, the losses may decline later this year after Uber sold its China unit to local rival Didi Chuxing earlier this month, in effect ending its costly subsidy war there.
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