To Win the Market, Uber Lost Rp 10 Trillion

Transportation & Logistics

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22/12/2016 15:13 WIB

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Uber Technologies Income Statement 2016

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To win market share, online transportation service companies are pampering consumers with various discounts. Far from making a profit, these internet-based transportation providers are actually experiencing losses. This is exemplified by Uber Technologies Inc., headquartered in the United States, which reported a loss of US$800 billion, or approximately Rp 10.6 trillion (at an exchange rate of Rp 13,300 per US dollar) in the third quarter of 2016. This figure excludes operations in China.

Currently, online transportation service companies are in a phase of vying for market dominance. They offer various incentives to customers and provide bonuses to their drivers. This battle for market share requires significant funding; it can be described as a "money-burning" phase.

In Indonesia, there are three online transportation services: Grab, Gojek, and Uber. Low fares and better service than conventional motorcycle taxis and taxis have led people to switch to internet-based transportation services. These companies are funded by investors.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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To Win the Market, Uber Lost Rp 10 Trillion

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