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Uber Plans IPO, Could Go Public Within 18 Months

Uber Plans IPO, Could Go Public Within 18 Months
[Photo: © Ted Soqui/Corbis]

Uber could go public within the next two years, according to a report obtained by Reuters.

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The San Francisco-based ride-sharing giant is expected to book nearly $11 billion in business this year–and as much as $26 billion in 2016–and could file for an initial public offering in 18 to 24 months, Reuters wrote on Friday, citing leaked internal documents.

Reuters referenced a “confidential slideshow prepared by Chinese bankers” that included information from Uber; the documents allegedly sought to raise a new round of funding.

To date, Uber has raised $7 billion in 12 rounds of funding, according to the CrunchBase database. It has been valued at more than $50 billion, making it the world’s most valuable privately held venture capital-backed startup.

Based on the numbers in Uber’s presentation, Reuters determined that its revenue this year will likely come to about $2 billion. Earlier this month, Gawker procured documents that revealed Uber’s financials and indicated it was losing money, potentially due to its aggressive expansion efforts in countries like India and China.

It has been widely speculated that Uber intends to go public soon, but the company has been publicly silent on the matter.

Uber did not immediately respond to a Fast Company request for comment.

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