Business

With 140M Rides In 2014, Uber Likely Selling At Over 10x Revenue

2014 was a good year for car-sharing service Uber. Despite the growing number of legal challenges from taxi drivers the firm is facing worldwide, Uber continued to grow rapidly throughout the last 12 months. In fact, the company provided more than 140 million completed rides in 2014, up from less than 50 million total completed rides in 2013.  At $20 per ride, that comes out to about $2.8 billion in revenue. At $25, it’s $3.5 billion, etc. readers can do the calculations for themselves, but with a $40B valuation – the company is certainly selling at a premium – whether that premium is justified, only time will tell.

Also of note, the list of countries where Uber ride sharing is available topped 50 in 2014.

Uber valuation

Uber logs two million rides on New Year’s Eve

Uber drivers provided more than 2 million rides in just 24 hours on New Year’s Eve 2014. In a statement the company noted: “We’re excited to be part of this celebratory night for so many people around the world, and proud of our role in ensuring safe, reliable rides during a time when impaired driving rates are at their highest.” The ride-sharing firm also noted its controversial “surge pricing” policy would be in effect over the holiday.

Other 2014 Uber highlights

  • Uber made city streets safer. The company claims that “By choosing Uber instead of drinking and driving, cities are seeing a significant decline in DUIs.”
  • Uber is sparking change. The firm also notes than over 500,000 people across the world have signed petitions supporting ridesharing.
  • Your music, with your ride. The new Uber + Spotify global integration allows riders to enjoy their trip with a custom soundtrack.
  • You screamed for ice cream. So Uber served it up around the world with UberICECREAM. The ride-sharing firm notes that more than 250,000 ice cream bars were distributed.
  • Taking cars off the road. UberPOOL finally launched in San Francisco, Paris and New York; and every shared ride reduced the need for cars on the road.
  • Helped reduce child hunger. Uber helped raise awareness of the subject and donated #5MillionMeals to No Kid Hungry in 2014.
  • And more. The company’s statement also noted that eight couples had UberWEDDINGs, the firm delivered several sky writing love notes on Valentine’s Day, and that “Uber played an important role in at least one baby being born!”