Uber files S-1

Cloudera EECT24
Apr 11 386 Comments

1B$ net loss on 11.2B$ revenue in 2018. Revenue up 42% YoY. Operations loss was 3.03B$ in 2018.

Interestingly, in their S-1, they explicitly state “We expect our operating expenses to increase significantly in the foreseeable future, and we may not achieve profitability.”

Thoughts?

comments

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TOP 386 Comments
  • Apple / Eng fruitco334
    Lol and dummies here want to say Uber is “Tier 1” - tier one companies make money, not somehow contrive a 100bn valuation while losing almost 2 bil a year...Christ.
    Apr 11 46
    • Apple / Eng fruitco334
      @unotnothing as I stated I am a HW engineer so Uber was of no interest to me career wise. So nice theory but once again, not jealous and not rejected.

      Also if you seriously think Apple on your resume is “awful” you are an idiot of towering proportions.
      Apr 12
    • Coursera zVfi31
      @fruitco334 stop being jealous, sour grapes 😊
      Apr 12
    • Apple / Eng fruitco334
      As I said above, keep saying it and perhaps it will be true.

      Spoiler: it won’t
      Apr 12
    • Facebook
      B13captain

      Facebook

      BIO
      New grad with 10yoe
      B13captainmore
      I don’t think uber has earned the “hurr durr ur just jealous” badge yet. Most people at Uber aren’t going to earn Fuck You money, and they are still a ways from proving long term viability. On top of all that, a lot of growing up to do as a company, hot off of the past... 10 years? A few years ago you saw people scrambling over from FANG, but that was when the upside was much bigger, but nowadays it does feel like a smaller pond and lower reward over risk than the bigger players.
      Apr 12
    • Apple / Eng fruitco334
      ^thank you. Such hubris in thinking I’m jealous simply because of money.
      Apr 12
  • Square / Eng
    077

    Square Eng

    PRE
    Palantir, Google
    077more
    We are in an era beyond logic.
    Apr 11 18
    • SAP ksYR03
      Exactly. It’s all like a Ponzi scheme. Keep selling $1 for $.80 as long someone funds it. The moment money stops it all ends. VCs now dumping on retail to make billions. Retail to be the bag holder. Btw look at Operating Cash Flow instead of Free Cash Flow. That is more imp and Amazon and Google all had that before IPO. Tesla, Uber , Lyft doesn’t.
      Apr 11
    • eBay / IT
      manorama

      eBay IT

      BIO
      Coder
      manoramamore
      @sap main difference between the two - operating vs free flow ?
      Apr 12
    • SAP ksYR03
      Google u will learn. Free cash flow takes into account CapEx and other depreciation etc. CapEx is how much money u r investing in growing ur business. That is company subjective. So that’s why I took out of that and just look at operating cash flow. And as I predicted Uber just now like Lyft said they may never make profit. But they are still going for $100B
      Apr 12
    • SAP ksYR03
      Apr 12
    • Hertz !XXX!
      @manorama free cash Flow is including capital expenditures
      Apr 15
  • Uber rolex
    FAANG people who build a button with 20 engineers cannot comprehend how uber Uber is. Who uses Facebook anymore? Who’s excited about the new iPhone whatever? The king of the startups is coming to the market. The stock will go 2x the first day. You should short your retirement home stocks.
    Apr 11 21
    • Uber GavinB
      Time to go back into your watch case, Rolex
      Apr 12
    • ConocoPhillips Duck🦆
      Uber is literally a taxi service wtf are you so proud of
      Apr 12
    • Uber danke
      Really @duck "taxi service" joke? ... It's 2019 Remove that rock above you
      Apr 12
    • Uber stock is gonna take off like crazy. The losses are attributed mostly to customer incentive costs for growth. Once critical mass is reached they will dial that down suddenly become profitable.
      Apr 19
    • 😂😂😂😂
      Apr 19
  • Microsoft M💰FT
    Substantially better financials than Lyft! Lyft managed to lose 90% as much money with less than 1/6 of market share. Lyft is the yahoo of rideshare.
    Apr 11 2
    • Amazon lkjhgfpoi
      Winner
      Apr 11
    • Lyft LiftOober
      Not totally wrong, but you are comparing the wrong loss numbers.
      Apr 11
  • Amazon qGts51
    Can someone ELI5 why uber is making a loss when it seems like uber continues to make so many sales?
    Apr 11 10
    • Uber ipl29
      There's a stark difference between
      - selling 1 dollar bills for 90 cents
      - selling 1 dollar bills for $1.20 and spending 3 billion to tell more people about the deal and 1.5 billion more to figure out how to sell 1 dollar bills for $2.

      Those that don't understand the difference are welcome to short.
      Apr 11
    • NIO PnAN38
      I love how the last reply here is basically implying Uber’s business model is to spend $Bs to convince customers that $1=$2

      Disruptive bro
      Apr 11
    • Uber ipl29
      It's called expansion, bro. You can set up a lemonade stand on the street corner and have positive 80% profit margins on day one on $50 revenue. File your S-1 and let me know how it goes.
      Apr 11
    • Apple / Eng fruitco334
      There’s always money in the banana stand
      Apr 11
    • Nvidia madd
      That's not expansion. That's hype.
      Apr 11
  • Facebook lolwutm8
    Amazon hasn't achieved "profitability" either. Self driving cars are coming and when that happens they'll be able to cut their biggest cost. They'll be fine.
    Apr 11 26
    • Redfin lisafrank
      Lmao no.
      Apr 12
    • eBay / IT
      manorama

      eBay IT

      BIO
      Coder
      manoramamore
      @amazon stock based compensation is useful to keep cash flow same, which is good for company, and increase outstanding shares , which is bad for investors . Tax wise there is no difference in paying cash versus paying stocks to employees, as corporates record it as business expense .
      Apr 12
    • Google take
      @ebay: actually there is. Look up online. There are lots of articles and videos explaining this.
      Apr 12
    • Amazon wosncb
      ^ this. If your CFO goes on the record in front of all their employees and admits that, I’m pretty sure they know what they’re talking about.
      Apr 12
    • Travelport / Eng buttnpushr
      Aws kind of subsidizes all the losses from retail. Btw can someone explain how tf are those two not broken apart already?
      Apr 12
  • Apple BigBootey
    Uber is an inherently flawed, unscalable business. Unless it is capable to put driverless cars on the street soon, it will collapse.
    Apr 11 12
    • Travelport / Eng buttnpushr
      You mean helicopters?
      Apr 12
    • Intel Who.Dis
      That isn’t a flying car is it? We’re talking about Tesla’s experiment testing if Elon’s car can fly and then land itself.
      Apr 12
    • Travelport / Eng buttnpushr
      It's got doors, it's got seats, it can fly. Sure it's got that ugly fan on top but besides that it fits the description
      Apr 12
    • AT&T / Eng
      DDM2K

      AT&T Eng

      PRE
      Optum, Windstream, AT&T, Verizon
      DDM2Kmore
      The NHTSA but with street marshals
      Apr 15
    • Intel Who.Dis
      ^Nah man, no need for localized enforcement. The ideal is requirements during development ensured before deployment.
      Apr 15
  • Microsoft fudgeyou
    Where/when can I short this pump and dump stock? (Serious question)
    Apr 11 33
    • eBay / IT
      manorama

      eBay IT

      BIO
      Coder
      manoramamore
      @travelport if they are consistently losing money every year including previous year , how are they getting any tax refunds of amount of $2b , to make NOL of $1b?
      Apr 12
    • Travelport / Eng buttnpushr
      Accounting magic?
      Apr 12
    • Two Sigma blarh
      Literally no point shorting uber when Lyft exists. They are worse in every measurable metric.
      Apr 16
    • Intel Who.Dis
      Does that assume that Uber becomes profitable from LYFT’s demise?
      Apr 16
    • Two Sigma blarh
      If uber crashes and burns, it necessarily implies lyft will, too, crash and burn. If lyft crashes and burns, uber may not necessarily crash and burn. That is the key difference.
      Apr 16
  • Google / Eng catburglar
    How does the compare to Lyft?
    Apr 11 7
    • And Uber just bought Careem.
      Apr 11
    • Cruise Automation sl1msh4dy
      Holy shit this the funniest, most misleading graphic ever. Colors in entire countries if uber “operates” there, never mind the market share there. Leaves a tiny dot for every other company. By the same logic that uber is shaded in, the entire U.S. should be pink also since lyft is all over the U.S. or are you telling me lyft only operates in New York? Jesus what a false spread of information.
      Apr 11
    • Lyft yrfrwd
      And uber has stake in ola .. awesome news 😁
      Apr 11
    • Amazon bayyzoes
      That graphic is blatantly one sided
      Apr 11
    • Uber / Eng
      @w@

      Uber Eng

      PRE
      Capital One
      @w@more
      What a stupidly biased chart
      Apr 12
  • Apple BigBootey
    I’m laughing thinking about your face when you find out you can’t sell your stock right away and watch its value melt away as the company tanks...
    Apr 11 7
    • Uber dneb
      Everyone already knew about lock up period...
      @Yaka probably jealous
      Apr 11
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco, Dell
      sightmore
      Doesn’t matter even if the stock does tank in the short term. What matters is long-term. We have strong signals for growth and are making investments in the right areas.

      Apple for a period was investing in the wrong places and was days away from Bankruptcy (has to be bailed out by Microsoft!), but later invested in the right areas which ultimately lead to a trillion dollar market cap. Gotta think long.
      Apr 11
    • Apple BigBootey
      No, I just hate Uber and arrogant people who brag
      Apr 11
    • Uber Yaka
      Who's bragging?
      Apr 11
    • BigBootey - you definitely got rejected by Uber!
      Apr 11
  • Google EVsM02
    That's actually not as bad i as i thought
    Apr 11 4
    • Amazon lkjhgfpoi
      Put down those kale chips my Google friend!
      Apr 11
    • Intel wannafly
      and also the avocado toast
      Apr 11
    • Facebook whodattt
      I agree with this too. For a growth company of that size doesnt sound that bad.
      Apr 11
    • Microsoft Jeph Bezos
      What are you talking about? Google, amazing and even Facebook had a legit plan to become profitable. What’s Uber’s plan? Hope drivers work for free?
      Apr 11
  • Uber BqIl70
    The way I explain it to people outside of Uber is that it’s like a hotel chain. Imagine that company builds a hotel one year for $100m but has 0 customers in the year of construction. That company effectively “loses” 100m that year, but in the years following its construction costs are far lower and it’s able to turn a profit. Uber is effectively “building lots of hotels” right now by starting new businesses and entering new cities.
    Apr 11 9
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco, Dell
      sightmore
      Uber has employees working in over 600 locations worldwide. Lots of boots on the ground to work with local regulators, city planning and driver on boarding. It’s not just an app being delivered from SF. Ridesharing requires significant local Ops to get the engine running. The global employee expansion plans for this year are massive.
      Apr 11
    • eBay / Eng
      mDBW53

      eBay Eng

      PRE
      NVIDIA
      mDBW53more
      More like they built the hotels and let every homeless person in the world try them out for a year for free.
      Apr 11
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco, Dell
      sightmore
      More like restaurants. Give away a free meal to get someone to taste the product. Then they like what they get and come back on their own dime.
      Apr 11
    • Uber BqIl70
      Wow, there are some really salty people on this thread
      Apr 11
    • Microsoft M💰FT
      Uber is the bed and breakfast of hotels. Home owners who can’t afford their mortgages rent out a room and make people feel welcome. Meanwhile, the hotel empires (auto companies) are creating technologies that allow their hotels to be minimally staffed by humans and advertise their own hotel services with their century old brand names.
      Apr 12
  • Twitter Oomnj
    $12B in losses since 2014. Wow!
    Apr 11 5
    • Uber ipl29
      ???
      Apr 11
    • Twitter Oomnj
      *since
      Apr 11
    • You forgot to begin your sentence with "Only"
      Apr 11
    • Microsoft Hyad70
      It's all of their overpaid developers
      Apr 11
    • Salesforce LGhW03
      So who got rich in the $12bn “losses”...is that all employee salaries??
      Apr 11
  • Lyft uHdD40
    Sure looks like some Apple employees in here got rejected from their onsites at Uber. wew lad the butthurt is off the charts.
    Apr 11 2
    • Uber dneb
      Actually though...
      Apr 11
    • Uber Yaka
      lol. Why is there so many sour apples
      Apr 11
  • Quantcast / Eng HEE468
    Lyft is a much better short candidate. They have no hope of ever becoming profitable. This is how you can look at Uber’s 1+ billion loss. Uber spends over half billion on advertising and more than that on self-driving. It can easily become profitable if it wants to (but it definitely shouldn’t anytime soon). It’s insane to short Uber while there is Lyft.
    Apr 11 9
    • Quantcast / Eng HEE468
      Thank you! My number is indeed incorrect. But the picture I painted should remain largely the same. Plus - Uber is like Google and Lyft is like Bing but without a deep pocket.
      Apr 11
    • OSIsoft wikendHack
      Uber to Lyft is same as Waymo to Uber.

      So Uber's future is not as bright as you think it is.
      Apr 11
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco, Dell
      sightmore
      Except that Alphabet, who owns Waymo, is also a major shareholder in Uber too.
      Apr 11
    • OSIsoft wikendHack
      Wow that makes it interesting. So alphabet makes money irrespective of a winner. But alphabet gains more with Waymo
      Apr 11
    • New / Eng |l|l||l|l|
      If waymo solves L5, it makes more sense to put their cars on Uber and Lyft than to try and set up their own network. Win-win-win situation
      Apr 12
  • Stand to earn $4m, even if it’s tanked to 50% of the ipo $ it’s fine by me
    Apr 11 4
    • Uber Yaka
      Man fuuuk u. lol. You must've joined in 2013
      Apr 11
    • Oracle / Eng wpooh
      Then it should drop more than 50% as you don't care. I will 🙏 for it
      Apr 11
    • Microsoft IEWf51
      Nice.
      Apr 11
    • Salesforce HowdieD
      Congrats. How many millionaires does Uber make with this IPO?
      Apr 14
  • Uber Yaka
    I'm just happy bc I can finally afford a motherfucking house in the bay area
    Apr 11 8
    • And yeah, I'm going to buy a shitload of put Options asap After it gets out. So I don't have the same view on you on the -50%
      Apr 11
    • Uber Yaka
      Doubtful I would have had that if I had stayed at Google. Basically I made 3x average variable compensation working here
      Apr 11
    • Indeed / Eng teeni
      When did you join yaka?
      Apr 11
    • Uber MagicShow
      Some of these dudes can’t get enough of telling us how much they want to short. Lmao
      Apr 12
    • Salesforce HowdieD
      Yaka, where are you gonna the house?
      Apr 14
  • Amazon callcancel
    I'm all in. See you guys on the beach 🌴
    Apr 11 2
    • Microsoft oufly
      Beach on the roof?😂
      Apr 11
    • Intel Who.Dis
      There’s a pool on the roof.
      Apr 11
  • Facebook whodattt
    Love how everyone i this thread suddenly became a trader guru.
    Apr 11 0
  • Tesla 100thieves
    Where are my Uber bros at? Orgy time 👀
    Apr 11 6
    • Tesla 100thieves
      Yea boi. Let’s get some 🐈
      Apr 11
    • Uber Yaka
      Lol is this a reference to a movie?
      Apr 11
    • Tesla 100thieves
      Who knows. Yo you guys heading to the strip club or what? Love to join.
      Apr 11
    • Uber Yaka
      I am sure there will be a lot of that going on. I just pray that shit doesn't make the news
      Apr 11
    • Facebook zUrf70
      100thieves, great comment, would read again.
      Apr 11

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