Uber's losses are widening again

Illustration: Lazaro Gamio / Axios

Uber is once again losing money, after turning a first quarter profit thanks to the sales of its Russia and Southeast Asia units.

Why it matters: Uber plans to go public by the end of 2019, but continues to balance its desire for profitability with increased investment in areas like food delivery business, bike-share and self-driving.

Uber hires former National Counterterrorism Center chief as head of security

Matt Olsen testifying in Congress.
Matthew Olsen speaks during a House Small Business Committee hearing on President Donald Trump's ban of Chinese Telecom Maker ZTE. Photo: Zach Gibson/Getty Images

Uber has hired Matt Olsen, former general counsel of the National Security Agency and director of the National Counterterrorism Center, as its new chief security officer, the company told the New York Times and confirmed to Axios.

Why it matters: Olsen will replace Joe Sullivan, who was dismissed in November following the disclosure of a data breach a year prior, which the company kept secret. Olsen will be tasked with repairing the company's image when it comes to security practices.