While it might not be taxi companies’ most favorite, and Hillary Clinton actually took a stand on how it negatively impacts businesses, Uber continues its expansion at a really high and fast rate.
This year, bookings are estimated at reaching $10.84 billion at a global level and a growth of $26.12 billion is predicted for 2016, according to a slideshow for potential Chinese investors that Reuters got a hold of.
However, the ridesharing business keeps 20% of the money from giving customers rides, leading to $2 billion revenue this year. The report we mentioned earlier stated the company made $2.91 billion from its car lifts last year and $687.8 million in 2013. The secret slides also gave information on when Uber’s IPO will be released, with a rough schedule of 18 to 24 months.
At the moment, the company, which operates in 50 countries worldwide, is worth around $50 billion, more than older and well-established businesses like Nissan and FedEx.
The rise for Uber happened quickly, as in 2013 the company was valued at only $3.5 billion. So that’s a $46.5 billion difference in a bit more than two years. With its continuing expansion, Uber is still fighting governments that are looking to prevent it from increasing its business based on whether it is a positive workforce or not.
For example, the San Francisco district attorney is going after Uber for the quality of its background checks. There have also been impediments in Hong Kong, Brazil and France regarding how Uber handles and does business. What Uber’s success is based on however goes to its users, and they don’t seem to have a problem with how the company operates, but on the contrary, they increase in numbers and boost Uber’s profits day by day, billion by billion.
By Gabriela Florea