The ride hailing app/service Uber is apparently doing great when it comes to bookings. This is because Uber’s global bookings are projected to rise to $10.84 billion, and that is for this year. Next year, Uber’s global bookings are projected to reach $26.12 billion in 2016, according to CNBC.
Uber, which retains 20 percent of booking revenue and operates in more than 45 countries, provided input to Chinese bankers, who created a confidential slideshow. The goal of this slideshow is to solicit investment in a fund participating in Uber’s Series F financing. Also, potential investors were able to see a recent presentation and that is where the projection came from.
According to a calculation by Reuters, Uber’s 2015 revenues would be around $2 billion. According to the Daily Mail, a spokeswoman at Uber’s headquarters in San Francisco was asked about the presentation. However, the Uber spokeswoman said the company doesn’t comment on speculations and rumors.
The presentation offered potential investors a glance at Uber’s explosive growth throughout the years. The six-year-old firm was last valued at $50 billion. Last year, Travis Kalanick, Uber’s chief executive, said that the company’s revenue was doubling every six months.
The presentation did not mention whether or not Uber is profitable nor did it feature expenses. According to the Los Angeles Times, the presentation revealed that Uber is contemplating a public stock offering in 18-24 months.
Uber’s backers range from institutional investors, such as Fidelity and the Qatar Investment Authority, to venture capitalists Benchmark and New Enterprise Associates. Together, the investors have invested around $5 billion to support Kalanick. Kalanick has also said that he wants to build a computerized logistics network.
Uber connects drivers and passengers via the Uber app. Customers log onto the app to hail a ride, and a driver, also logged onto the app, picks the customer up and brings them to the destination. However, Uber has been faced with resistance, with its services being banned in a number of cities, and even France and Spain has banned Uber because drivers for Uber don’t carry permits that are needed to operate commercial vehicles. The company did say that it was working with officials to have the bans lifted.
Earlier in the month, Uber was victorious in a lawsuit in the state of Connecticut. The judge in the U.S. state dismissed the suit, which was filed by established taxi firms that accused Uber of engaging in trade practices that were deceptive and racketeering.
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