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Uber lost $708M, seeking chief finance officer

Uber lost $708M, seeking chief finance officer
Posted at 11:50 PM, May 31, 2017
and last updated 2017-05-31 21:15:12-04

(CNN) - Uber is no longer riding high in the finance department.

The transportation service says it lost more than $700 million in the first three months of the year.

That's not counting stock compensation expenses.

The news came as Uber also said its head of finance is leaving the company.

Uber's chief financial officer left in 2015.

The ride-hailing start-up said it is initiating a search for a chief finance officer with public company experience.

The move could kick off Uber's march to go public.

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