Published On: Fri, Aug 21st, 2015

Uber Revenue Expected To Reach $26 Billion in 2016 And Go Public Within 18-24 Months


Uber was recently valued at over $50 billion in its most recent funding round.

According to a leaked document given to investors in China Uber Technologies Inc’s global bookings are projected to rise by nearly three times to $10.84 billion this year and reach $26.12 billion the next whilst it may also go public as early as 2016.

Uber, which operates in over 50 countries and takes a 20 percent cut of booking revenue, presented a confidential slideshow to Chinese bankers with the aim of securing investors in its next round of funding.

The company links passengers and drivers via its mobile application; Chief Executive Travis Kalanick said last year that revenue was doubling every six months at Uber. Its services have been banned in several cities due to its drivers not holding commercial licenses and regulatory issues.

The leaked information stated bookings hit $2.91 billion last year and $687.8 million in 2013 whilst the business is forecasting its initial public offering within the next 18 to 24 months. The documents did not feature expenses or say whether Uber is profitable however Uber is widely believed to be losing money as it offers financial incentives to gain drivers and rapidly increase market share.

The presentation was displayed to potential investors in a fund holding shares of Uber Global and Uber China. Uber China is a separate company which was formed for the mainland where it competes with Didi Kuaidi which recently completed a 2 billion funding round.

A spokeswoman at Uber’s headquarters in San Francisco said the company does not comment on “rumor and speculation” when asked about the report.

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