Uber Safety Report Announced’Market Cap Dropped by More Than 1 Trillion’

On December 5th, Uber released Uber’s US Safety Report. The report reports that there were 3,000 cases of sexual assault per year in 2017 and 2018. After the report was released, Uber’s stock price fell by a whopping $1.4 billion.

According to Uber’s announcement, in the United States, 10 people were killed in 2017 and 9 people in 2018 related to the Uber dispatch service. The number of deaths in accidents was 49 in 2017 and 58 in 2018. In the United States, the number of reported sexual assault damage by Uber users or drivers reached 2,936 in 2017 and 3,045 in 2018.

Uber divided the sexual assault cases into five stages and divided them into kissing non-sexual areas without consent, attempted sexual insertion without consent, contact with sexual areas without consent, kissing sexual areas without consent, and sexual insertion without consent. Of these five stages, the most frequent sexual contact without consent, with 1,560 reported in 2018. In addition, 229 cases of sexual insertion without consent were reported in 2017 and 235 cases in 2018.

About 3,000 cases of sexual assault were reported annually as a result of shock to many. However, Uber emphasized that the number of sexual assault cases is quite small in terms of the total number of rides. More than 99.9% of Uber rides are safe, and the number of Uber rides increased from 2017 to 2018, claiming that rape cases are decreasing in proportion.

Following the release of the safety report, Uber CEO Dara Kosrowshahi said via Twitter that he was taking an important first step, saying that he would investigate and act on the number of cases to end the sexual assault.

Uber’s announcement had a big impact on the stock price. On December 6, the day after the safety report was released, Uber’s stock price fell 2.7%. The closing price on December 5 was $28.65, but the closing price on December 6 was $27.88. As a result, Uber’s market cap fell by a whopping $1.4 billion from $48.9 billion to $47.5 billion.

Not only Uber suffers from rape, but also rival Rift. In December 2019, 19 women filed a lawsuit claiming that they used the lift to inflict sexual violence. In addition, it is said that not only passengers but also drivers are exposed to dangers that are victims of rape in the dispatch service. According to the Uber report, drivers were the victims in 42% of reports of sexual assault. Related information can be found here .