According to the judgment, the company has to stop its operations in the county within 10 days and if fails to do so than company has to pat $ 10,000 fine for each day it remains active after the deadline. While Uber’s $70 billion valuation makes that amount sound like chump change, it hasn’t exactly been profitable and actually bled billions in 2016.
The San Francisco-based firm said in a statement: “We are shocked by the Italian’s court decision and will appeal. Thousands of professional, licensed drivers use the Uber app to make money and provide reliable transportation at the push of a button for Italians.”
Uber told La Repubblica that it will appeal the decision.