Advertisement
Tech by VICE

Uber May Be Going Public in 18 Months, Leaked Documents Show

Documents detailing the company’s expansion into China also show that it might be going on stock markets as soon as 2017.

by Clinton Nguyen
Aug 21 2015, 4:13pm

Image: bfishadow/Flickr

Uber may be going public in as early as 18 months, according to documents seen by Reuters.

The ridesharing company, which has expanded to 59 countries from 44 around the same time last year, shared some of the details of the initial public offering in a confidential presentation to tap into Chinese investors for another round of funding. It should be noted that the presentation wasn't put together by the company directly, but by Chinese bankers with input from the company.

The company doesn't respond to rumors or speculation.

The company is looking to expand to China and India, but China might be a bit of a tougher competitor with two domestic ridesharing services already in tow.

The ridesharing company is flush with revenue, as any news mentioning Uber is wont to point out. This year, the company is poised to process $10.84 billion in transactions, and the documents project that figure will balloon to $26.12 billion by the following year.

But the growth hasn't turned the company a profit—it's reportedly losing boatloads of money cornering the market. The company is valued at $50 billion, beating out Facebook in early growth.

But some questions still remain: how will Uber's strategies change when they're under the hands of investors? And how will the company answer to greater public scrutiny, after all the dust from its aggressive expansion settles?

Tagged:
Tech
Motherboard
News
china
INDIA
IPO
uber
ridesharing
Travis Kalanick
regulators
company financials