Uber lost $2.8 billion in 2016 - KPLC 7 News, Lake Charles, Louisiana

Copy-Uber lost $2.8 billion in 2016

(UBER/CNN) - Ride-sharing company Uber booked $20 billion worth of rides last year, but still managed to lose $2.8 billion.

Despite the massive loss, Uber grew sales rapidly during the second half of the year while keeping losses constant, which paints a positive picture of the company's future to some.

Uber is privately held, and that means it doesn't legally have to release financial data.

However, it provided the information voluntarily to Bloomberg.

The financial disclosure may be an attempt to win the confidence of employees, investors and customers.

Accusations of institutionalized sexism from a former employee and pressure from taxi drivers continue to plague the company.

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