Uber bookings projected to rise to $10.84bn in 2015

Uber’s global bookings are projected to rise nearly threefold this year to $10.84bn (€9.54bn) and reach $26.12bn the next, according to a recent presentation for potential investors seen by Reuters.

Uber bookings projected to rise to $10.84bn in 2015

The taxi-hailing service, which operates in more than 50 countries and recently announced that its first non-US Centre of Excellence would be based in Limerick, recently showed a confidential slideshow which contained the forecasts.

The company keeps 20% of booking revenue which equates to approximately $2bn of revenue in 2015.

A spokeswoman at Uber’s San Francisco headquarters, when asked about the presentation, said the company would not comment on “rumour 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 $50bn, the most for a privately held technology firm worldwide.

Uber links passengers and drivers via an app.

CEO Travis Kalanick last year said revenue was doubling every six months but its services have been banned in several cities where, for instance, drivers have not held commercial licences.

It has said it is working with authorities to lift the bans.

Bookings reached $2.91bn last year and $687.8m in 2013, according to the presentation, which does not feature expenses or say whether Uber is profitable.

The presentation also forecast an initial public offering of Uber Global within 18 to 24 months.

Kalanick and people close to the firm have in the past declined to discuss any timetable.

Uber is widely believed to be losing money as it offers financial incentives to drivers to gobble up market share.

It is also dealing with numerous legal and regulatory issues and bans in countries including France, Spain, and Thailand.

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 $5bn to support Kalanick, who has said he aims to build a computerised logistics network.

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