Cab-hailing firm Uber is attaining music industry-quality leakability at the moment: after financial results from 2014 leaked out last week, now a presentation to potential investors has fallen into Reuters’ hands. They reveal that Uber is claiming it will book $10.84bn of rides this year, rising to $26.12bn in 2016.
With the company keeping 20% of the money paid by passengers, that would translate to $2.17bn of revenues this year, and $5.22bn next year. Uber has raised nearly $5bn in funding so far, with its last round of investment valuing the company at $50bn. According to the presentation seen by Reuters, Uber is targeting an IPO within the next 18-24 months. Missing from the documents is any indication of how much money Uber is losing as it builds its business, although the previous leak revealed net losses of $56.7m in 2013 then $158.5m in the first half of 2014 (Bulletin, 6-Aug-15).
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