Uber lost 1.3 in first half of 2016: report

A young woman walks past the headquarters of Square and Uber in downtown San Francisco. SAN FRANCISCO -- Silicon Valley's most valuable startup is struggling to turn a profit. Uber lost 1.3 billion in the first half of the year, according to Bloomberg report citing unnamed sources privy to a conference call with investors of the privately held ride-hailing service. The company has raised 16 billion to help fuel its rapid expansion to 76 countries, and was last valued at nearly 70 billion. It's self-driving or bust for Uber CEO; the IPO can wait Gautam Gupta, Uber's head of finance, told listeners on last Friday's quarterly call that the company lost 520 million in the first quarter of 2016, and 750 million in the second quarter, according to the report.