With Uber headed for its global IPO next year, people got a sneak peek into the financials, booking and revenue as Reuters leaked the details of a presentation.
While reports indicate that Uber is headed for its IPO next year, the general public got a sneak peek into the financials of the car-hailing business once Reuters leaked the details of a presentation provided to potential investors.
Uber, which operates in more than 50 countries, has recently made big investment moves into India and China. In India, this means linking with Bharti Airtel in a deal that will let customers in India pay for rides through the latter’s mobile wallet platform. In China, Uber said it’s investing $1 billion into the market that CEO Travis Kalanick said could eventually be Uber’s top market. Uber is also said to be investing the same amount in India.
Now, as Uber continues to fend off regulatory pressure — both at home and abroad — it appears the company is poised to grow threefold in the next year alone. To keep afloat of the major news that’s been coming out of Uber once the news of its financials broke late last week, we’ve rounded up the Top 5 takeaways that show what’s next for the rapidly growing ride-hailing company.
While reports in late June indicated that Uber was operating at $470 million in operating losses on $415 million in revenue, the look into its latest reports indicate that Uber may be turning things around. At that same time, it was reported that the company had plans to sell $1 billion-$1.2 billion in convertible bonds.
While Uber hasn’t officially commented on the leaked presentation, what has been reported on indicates that Uber bookings hit $2.91 billion in 2014 and $687.8 million in 2013. This year’s bookings are projected to hit $10.84 billion.
The presentation did not indicate whether or not that would make Uber profitable yet.
Given the fact that Uber keeps 20 percent of revenues as bookings, a quick calculation would imply that Uber will see a revenue of about $2 billion this year. And that number would then be expected to grow more than double based on the booking figure projected for next year of $26.12 billion.
Revenue in 2016 could also top $5 billion.
The presentation — which was undated, though it disclosed data through June of this year — gives investors insight into the ride-sharing company, which has been valued at as much as $51 billion.
In early August, it was reported that Uber had raised $1 billion in its latest round of funding, a sum that values the company at roughly $51 billion, which makes the ride-summoning tech company equal to Facebook’s record for a startup.
Uber has raised more than $5 billion since inception. Major investors in this latest round count tech titans such as Microsoft and the investment unit of Bennett, Coleman & Co., an Indian media company, which dovetails with Uber’s plan to expand operations outside of the United States.
The biggest backers include Silicon Valley venture capitalists Benchmark and New Enterprise Associates, along with investors Fidelity and the Qatar Investment Authority. The investors have reportedly backed Uber and Kalanick’s vision to create a computerized logistics network.
Uber’s dominance in the Chinese ride-hailing market might be able to make it a publicly traded company.
Uber is currently raising money from private investors for Uber China, which could mean it is preparing to become a publicly traded stock, but Kalanick has said that he believes in keeping companies private for a significant period of time before bringing them to the public market.
The leaked presentation indicated that investors with shares of Uber Global could prepare to take the company public within 18-24 months. Kalanick has not provided any further details.