Uber’s global bookings are projected to rise almost threefold to $10.84 billion this year and reach $26.12 billion in 2016, according to a recent presentation for potential investors. Considering Uber takes 20% of that, it appears that Uber’s 2015 revenue would be around $2 billion. Based on those figures, 2015 revenue would be around $2bn.
An Uber representative said the company does not comment on rumor or speculation.
Uber expects to generate bookings worth more than $10 billion this year and double that next year as the digital taxi service’s business booms globally. But its services have been banned in several cities where, for instance, drivers have not held commercial licences. The company said that it is working with local authorities to have these bans lifted.
Landing an investment from state-controlled Citic may help San Francisco-based Uber compete in China.
As far as whether or not Uber is profitable, it’s unlikely at this point.
It wasn’t clear how the latest investment would impact Uber’s valuation, which was pegged at about $50 billion in the last financing round.
The presentation said that an initial public offering would be likely within 18 to 24 months, which would place the company’s stock market debut in the first half of 2017. Kalanick and other officials from the company have declined to a timetable in the past.
But previous leaks of financial numbers in the last couple months have shown the company spending a lot more than it makes – raising questions about the sustainability of its breakneck expansion. It is also dealing with numerous legal and regulatory issues and bans in countries including France, Spain and Thailand.
However, Uber has received around $5 billion in support from different financial backers, including the Qatar Investment Authority, New Enterprise Associates, Benchmark and Fidelity.