Taxi drivers around the globe may hate the company, but Uber continues to expand at an astonishing rate. Worldwide bookings in 2015 are expected to hit $10.84 billion and grow to $26.12 billion in 2016, according to a secret slideshow for potential Chinese investors obtained by Reuters. The ridesharing business keeps 20 percent of the money from giving customers a lift, which suggests over $2 billion in revenue this year. The same report showed $2.91 billion in rides in 2014 and $687.8 million in 2013.

The slides also set a rough timetable of 18 to 24 months for Uber's rumored initial public offering, according to Reuters. Operating in 50 countries around the world, the tech company is currently worth around $50 billion – more than older, more entrenched businesses like Nissan and FedEx. That rise has come quickly. For example, in 2013 it was considered astounding when Uber was valued at $3.5 billion.

As Uber grows, there are increasing discussions about whether the firm is a positive force, and the company continues to battle with governments to keep the service expanding. The San Francisco district attorney is going after the business for the quality of its background checks. There have also been crackdowns in Hong Kong, Brazil, France, and other places over how Uber does business. Given the app's meteoric rise in popularity over the last several years, users apparently haven't been bothered by the legal troubles.

Related Video:

Share This Photo X