Uber's Revenue Just Leaked — The Amount Of Money It's Expected To Make Is Staggering
<img style="float:right;" src="http://static4.businessinsider.com/image/54676f136bb3f7cb1eda3348-1200-924/travis-kalanick-uber-14.jpg" border="0" alt="Travis Kalanick, Uber">
Mobile ride hailing startup Uber is expected to hit an annual revenue run rate of $10 billion by the end of 2015, sources told Business Insider's Henry Blodget.
<span>Uber keeps 20% of every transaction, which means Uber will be netting about $2 billion on $10 billion gross revenue. </span>
<span>What's more, most of Uber's revenue comes from 10 of its earliest cities, including San Francisco and New York. When its other 140+ cities mature, you can imagine that $10 billion revenue figure multiplying quickly. San Francisco alone generates hundreds of millions of dollars for Uber. Uber is operating in more than 45 countries without having made a single acquisition.</span>
<span>Let's say that all again:</span>
<span>Uber is expected to generate $10 billion of which it keeps $2 billion in the next year or two. </span>
<span>That's not to say the company is profitable. It spends tons of money on marketing tactics to recruit new users and drivers. Still, those figures for a five-year-old startup are staggering.</span>
To put that in perspective, Facebook is expected to generate $10 billion for the first time this year, after 10 years of operation. Granted, Uber and Facebook are entirely different businesses (advertising versus transactional) but yah, $10 billion is a lot.
Blodget also learned that Uber's revenue will grow about 300% this year and it's expected to grow another 300% next year. A snapshot of Ube's financials obtained by Valleywag in late 2013 showed Uber generating about $20 million per week.
<span>Further, Blodget's sources believe Uber will go public in a few years at a $50-10 billion valuation. Uber's last valuation exceeded $18 billion.</span>
SEE ALSO: No, Really, Uber Could Be A $100 Billion Company
<b>See Also:</b>
<ul><li>Morgan Stanley Analysts Tried Out Uber And Couldn't Believe How Good It Was</li><li>Now I Know Why Investors Are Going Hog Wild About Uber ...</li><li>THE SAME-DAY DELIVERY REPORT: E-Commerce Giants Are Battling Fiercely Over The 'Last Mile' </li></ul></group><group id="5098814D-E4EE-40B5-8CC8-354796523D21" type="seoLabels"><seoLabels></seoLabels></