Uber expects to triple its bookings to $10.84 billion worldwide this year according to an investor presentation leaked to Reuters.
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The ride-hailing service, which operates in over 50 countries, keeps 20 per cent of booking revenue, showed a confidential slideshow prepared by Chinese bankers with input from Uber, aimed at soliciting investment in a fund participating in Uber’s Series F financing. That rounds the company’s 2015 revenue to about $2bn. Uber projects its 2016 bookings to zoom even further upwards to $26.12 billion.
China is expected to outgrow Uber’s US home market by the end of this year, the company said in a letter to investors in June.
Bookings reached $688m in 2013 and $2.9bn in 2014, according to the presentation, which does not feature expenses or say whether Uber is profitable. It added that Mumbaikars will be the first in India to enjoy free high-speed internet from Uber, powered by Airtel 4G.
It owns an app which links passengers and drivers but its services have been banned in several cities and it is dealing with a number of legal and regulatory issues and bans in countries including France, Spain and Thailand.
As for whether the company could go public within the next two years as the investor presentation forecasts, Koslowski said the San Francisco company could go public, but that doesn’t mean it should.
It is understood that the presentation was created for would-be investors in China.
While China Life has confirmed its investment in the ride-sharing company, China Taiping declined to provide any comment. It contained operational data for both entities but did not break out financial details of Uber China. Despite rampant speculation, CEO Travis Kalanick has never commented on a possible timeframe of an IPO.
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However, Uber has received around $5 billion in support from different financial backers, including the Qatar Investment Authority, New Enterprise Associates, Benchmark and Fidelity.
