Uber has upended the transportation industry in the span of a few years. But the ride-hailing company has been losing a lot of money while doing so.

Uber recorded losses of about US$1.2 billion (S$1.6 billion) in the first half of this year, according to a person briefed on the company's financial data, who spoke on the condition of anonymity.

More than half of those losses, or about US$750 million, accrued in the second quarter of this year, said the person. An Uber spokesman declined to comment. Bloomberg previously reported on Uber's financial information.

The numbers underscore the difficulties that Uber and companies of its ilk face when trying to build and expand globally.

As Uber has opened operations in numerous cities around the world, it has needed to spend to recruit drivers, to market its service and to take on regulators and established taxi companies. The company has also paid for driver and rider incentives in the form of subsidies.

As a result, Uber has been on a fundraising streak. The company, valued at more than US$62 billion by investors, has been raising billions of dollars every few months.\

(ST)