Spending more time and money on autonomous vehicles, is worth it for Uber, the company said.
With its vast network of riders, restaurants and freighters – as soon as drivers become safe enough to run on public roads worldwide, Uber should have an advantage in their commercialization and profit.
Advanced technological projects also help Uber recruit and retain engineering talent in the hyper-competitive San Francisco marketplace where the head office is located. Uber employed 22,263 full-time employees at the end of 2018, with 11,488 employees outside the US.
Investors are knocking on a technically driven shot in the arm of Uber. The company warns in its S-1[ads1] archiving that it can never be profitable. It generated $ 11.4 billion in revenue last year but still enjoyed $ 1.8 billion in red.
But the international and "horizontal" story played well with venture capitalists and stock investors. Before the IPO, Lift had increased $ 4.9 billion, and Uber has increased more than $ 24 billion. At the time of the IPO, Heft was valued over $ 20 billion. Uber is now for a high-value valuation of around $ 120 billion.
It remains to be seen whether Wall Street investors will have so much faith in Uber's potential and focus on growth for now over profitability who knows when.
Those who believe in Uber's long-term growth will most likely be compared to Amazon, a company that appeared to be an online bookstore, but grew steadily into the store that sells everything and cloud computing giant, focusing on growth over profits in many years to do it. 19659008]