Despite facing massive amounts of hostility, the ride-sharing company Uber shows extraordinary growth rate.
According to the Los Angeles Times, Uber has faced resentment ranging from national governments, taxi companies, local regulators as well as direct competitors. The company has even received lawsuit coming from its own pool of drivers. All in an effort to slow down if not completely stop the company's unprecedented growth.
A presentation tailored for potential investors was recently picked and reported by Reuters and shows that Uber has a massive global operation. Global bookings for 2015 were revealed to be around $10.84 billion and has the potential to grow up to $26.12 billion in 2016. These numbers point that Uber has grown 38 times bigger than it was four year ago.
These numbers are being used by Uber in order to lure more investors. The company has recently raised $7 billion coming from private investors putting the company's worth at around $50 billion.
Gartner vice president and automotive practice leader said, "Uber is most likely to challenge Google [at] providing game-changing technology. Uber has a dominant core product that will provide cash flow to invest in adjacent products and markets. Not even Facebook or Amazon will have this type of flexibility because they lack adequate cash flow."
Uber's global market has been steadily growing over the past few years. In 2013, Uber launch in India and the region became the company's second biggest market next to the United States. Uber claims that it has more than 150,000 affiliated driver in India.
Despite mainstream media reporting that Uber is losing money due to massive amounts of animosity the company receives, the recently leaked report proves otherwise.