Then there’s this terms sheet for investors uncovered by Bloomberg last month that says Uber had $470 million in operating losses on $415 million in revenue.
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Uber, which operates in around 50 countries, takes a 20 percent cut from each ride that’s booked using its mobile app system. For an interesting comparison from Business Insider, consider Facebook only this year generated $10 billion, and that company has been around for a decade. But its services have been banned in several cities where, for instance, drivers have not held commercial licences.
When reached by Re/code, an Uber spokesperson said, “We don’t comment on rumor and speculation”. It has said it is working with authorities to lift the bans.
Using those numbers, Reuters calculated that Uber’s 2015 revenue will total approximately $2 billion. Uber is now spending a lot of money to expand.
However, it has faced problems elsewhere in the US.
The presentation also provided a look at very recent financial information for the ride-sharing company. The ruling opened Uber up to higher costs, including social security, workers’ compensation and unemployment insurance – all factors that could weigh on the minds of investors being shown the Uber slideshow.
But backers ranging from Silicon Valley venture capitalists Benchmark and New Enterprise Associates to institutional investors Fidelity and the Qatar Investment Authority have poured in close to $5 billion to support Kalanick, who has said he aims to build a computerised logistics network.
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The report also revealed that global bookings are forecast to triple, to reach £6.91bn this year and £16.65bn in 2016.
