Uber seen reaching $10.8 billion in bookings in 2015: fundraising presentation
By Shu Zhang and Gerry Shih
BEIJING (Reuters) - Uber Technologies Inc's [UBER.UL] global bookings are projected to rise nearly threefold to $10.84 billion this year and reach $26.12 billion the next, according to a recent presentation for potential investors seen by Reuters.
The ride-hailing service, which operates in over 50 countries, keeps 20 percent 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.
Based on those figures, 2015 revenue would be roughly $2 billion, according to a Reuters calculation.
A spokeswoman at Uber's San Francisco headquarters, when asked about the presentation, said the company does not comment on "rumor and speculation."
The undated presentation featuring data from as recently as June offers a glimpse of the explosive growth of the six-year-old firm, last valued by investors at $50 billion - the most for a privately held technology firm worldwide.
Uber links passengers and drivers via apps, earning revenue Chief Executive Travis Kalanick last year said was doubling every six months. But its services have been banned in several cities where, for instance, drivers have not held commercial licenses. It has said it is working with authorities to lift the bans.
Bookings reached $2.91 billion last year and $687.8 million in 2013, according to the presentation, which does not feature expenses or say whether Uber is profitable.
The slideshow also said state-owned China Life Insurance Co (601628.SS: Quote) (2628.HK: Quote) and China Taiping Insurance (0966.HK: Quote) invested in Uber in the past year, adding to a shareholder base numbering India's Tata group and Bennett, Coleman & Co Ltd. Continued...