Uber plans to go public in 18 to 24 months, says report

“Bookings reached $2.91 billion previous year and $687.8 million in 2013, according to the presentation, which does not feature expenses or say whether Uber is profitable”, says Reuters.

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. Since Uber takes a twenty percent cut of each ride, that means it will bring in roughly over $2 billion in revenue.

The taxi app, which operates in more than 50 countries, keeps 20% of booking revenue, according to the confidential slideshow, obtained by Reuters.

So, bookings have more than tripled over the past year.

Speculation about the Uber IPO has abounded, but up until now executives have repeatedly fielded off rumours about the vehicle hire service going public. A recent report from Bloomberg revealed 0 million in losses of the company. For an interesting comparison from Business Insider, consider Facebook only this year generated $10 billion, and that company has been around for a decade.

The slideshow said that state-owned China Life Insurance Co. and China Taiping Insurance had both already invested in Uber during the past year. But its services have been banned in several cities where, for instance, drivers have not held commercial licences.

Kalanick and people close to the firm have in the past declined to discuss any timetable for an Uber IPO. It has said Uber China could at some point be listed on the Chinese stock market, without providing a time frame.

Other financial documents leaked earlier this month showed that Uber is heavily lossmaking, losing around $109m in the second quarter of 2014, up from $56.5m in the whole of 2013.