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$2 Billion Revenue Forecast For Uber Ahead Of Possible IPO In 18-24 Months

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U.S.-based transportation network company Uber Technologies Inc. is projected to increase its global bookings by as much as $10.84 billion this year and around $26.12 billion by the following year, according to a recent business presentation for prospective investors.

The confidential presentation, which was prepared by bankers from China with input from the ride-sharing company, highlighted Uber's soliciting investment in a fund through the company's Series F financing.

According to figures provided, Uber's projected revenue for 2015 would be around $2 billion.

When asked about the data shown during the meeting, a spokeswoman from Uber's headquarters in San Francisco said that the ride-sharing company does not provide comments on "rumor and speculation."

Uber's presentation made use of data collected from as recently as June and offered a brief look at the company's significant growth within its first six years of existence. It is now valued at around $50 billion by investors, which is considered to be the most for a privately owned technology company in the world.

Uber's ride-sharing service connects drivers and passengers using apps, earning the company revenue that was doubling every six months, according to founder and CEO Travis Kalanick.

The services, however, have been banned in a number of cities in the United States following reports that Uber drivers do not have commercial licenses. The company said that it is working with local authorities to have these bans lifted.

In 2014, bookings for Uber's services reached $2.91 billion, while in 2013 the company made about $687.8 million, based on the figures presented at the recent meeting. The data shown did not feature Uber's expenses or any information to show that the company is profitable.

The presentation also highlighted that China Taiping Insurance and China Life Insurance Co., two state-owned companies, have invested in Uber in the previous year. Both Chinese firms now add to Uber's shareholder base, which includes India's Bennett, Coleman & Co Ltd. and the Tata group.

While China Life has confirmed its investment in the ride-sharing company, China Taiping declined to provide any comment.

Uber's presentation was prepared for prospective investors in Uber China and Uber Global's fund holding shares. Uber China is a separate company established for the Chinese mainland where it competes with taxi-hailing company Didi Kuaidi. The data provided in the meeting featured operational data for both Uber entities, although they did not provide a breakdown of Uber China's financial details.

It also provided an initial forecast for Uber Global's public offering within 18 to 24 months. Kalanick and other officials from the company have declined to a timetable in the past.

Many believe that Uber is losing money as the company offers its drivers financial incentives to take up market share. It is also facing several regulatory and legal concerns and bans in different countries including Thailand, Spain and France.

However, Uber has received around $5 billion in support from different financial backers, including the Qatar Investment Authority, New Enterprise Associates, Benchmark and Fidelity.

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