Car service giant Uber Technologies told prospective investors it is generating $470 million in operating losses on $415 million in revenue, Bloomberg News reported late Monday, citing a company document.
The document showing the large operating losses is being used to sell between $1 billion and $1.2 billion in convertible bonds but does not provide a specific timeframe for when the losses occurred, the report said. Nevertheless, it does tout a 300 percent year-over-year growth by the company.
"These are substantially old numbers that do not reflect business activities today," Nairi Hourdajian, an Uber spokeswoman, told the news outlet. She later confirmed the statement to CNBC.
Uber is currently operating in over 300 cities around the world and is valued at over $40 billion.
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