family: The firm, which has never made a profit, could target a valuation of 120bn when it lists on the New York stock market next year three times the value of the carmaker Ford, according to The Guardian. Uber counts Japan's Soft Bank and Saudi Arabia's royal family among its biggest investors. The San Francisco-based ride-sharing firm, valued at 76bn, is under pressure to improve its financial performance before the IPO. It lost 1.07bn in the three months to September, a 20% increase from 891m in the previous quarter. The latest quarterly loss is down more than a quarter from a year ago, when the company posted its biggest publicly disclosed quarterly loss after the departure of Uber's co-founder and chief executive, Travis Kalanick. Growth has slowed sharply from double-digit rates last year and near-30% growth in late 2016. Bookings rose 6% from the previous quarter to 12.7bn, marking the third quarter in a row they have grown in single digits.
(news.financializer.com). As
reported in the news.
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