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Uber’s adjusted losses widened to $743m during the third quarter of this year, up 14 per cent from the previous quarter, according to new documents sent to shareholders, underscoring the long road ahead for the transportation company as it tries to reach profitability.
The company’s net revenues were $2bn during the quarter, up 14 per cent from the previous quarter, with gross bookings of $9.7bn.
The figures were included in documents that were sent to thousands of shareholders as part of a complex investment deal in which a SoftBank-led consortium is seeking to invest between $7bn and $10bn in Uber.
A SoftBank spokesperson said the group was confident that its price would garner interest from key shareholders. “SoftBank and Dragoneer have received indications from Benchmark, Menlo Ventures, and other early investors of their intent to sell shares in the tender offer,” the company said in a statement.