On-demand car service Uber, which took in $258 million in funding this past quarter, may be blowing its projected revenue and growth numbers out of the water.
According to an internal company key metrics dashboard leaked to Gawker, the service is on track to record $210 million in revenue for 2013 on over $1 billion in rides, while also adding close to 80,000 new clients a week and growing its active clients to over 450,000. The company is also completing over 800,000 rides a week on well over a million requests.
Those are stupendous numbers for the company — assuming the dashboard is real.
CEO Travis Kalanick said recently that the company was growing more than 20 percent per month and that many cities are generating more than $100 million a year, which makes the leaked numbers at least in the ballpark.
Revenue seems to be over $20 million a week for all of Uber, according to the dashboard, which adds up to almost $1.1 billion annually. But that — and the “$100 million a year” comment — would have to refer to gross revenue, most of which goes to the cab drivers and other drivers that Uber contracts with to deliver the actual taxi service, while the $210 million is an estimate of how much Uber gets after drivers get their cut.
“Every fully utilized car on the Uber system grosses over $100,000/year,” Kalanick said recently. “This kind of expansion means hundreds of thousands more cars must come onto the Uber system.”
Uber had no comment on the leaked revenue numbers, but its investors must be salivating, considering that the $258 million invested was pumped into a company that at the time had a projected annual revenue for 2013 of only $125 million. Which means that revenue is up a massive 68 percent from projections issued just a few months ago.
Clearly, there’s a lot of money in same-day cat-delivery services.