Uber's global profit offsets China loss: CEO
Taxi-hailing app Uber's Co-founder and CEO Travis Kalanick in an interview to Reuters said the company's global profit offsets $1 billion loss it suffers in China. "If you took our top 30 cities today, they're generating over $1 billion in profit a year," Kalanick said. Uber is facing losses in China due to subsidised fares to gain market share.