Uber made a startling admission: It may never be profitable. The warning serves as a chilling reminder of the dot-com crash.
Uber filed to go public on Thursday, dumping a 300-page prospectus on potential investors about its sprawling $11.3 billion business empire. Bloomberg's Shira Ovide described it as the "most complex S-1 I've ever read." Among the revelations contained in this tome were details of Uber's love/hate relationship with former CEO Travis Kalanick, revelations about who's going to get rich when Uber joins Wall Street, insight on its battle to maintain drivers as contractors rather than employees, and information on its relationship with Google.
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