Uber is a four-year-old mobile ride service company that could soon generate $US10 billion of revenue per year.
How much revenue is Uber currently generating? How many active users does it have, and how many people are driving for it in cities around the world?
Business Insider obtained an internal Uber memo that’s nearly 60 pages long that was produced in early 2014. In it, there’s city-by-city data in terms of revenue, active drivers, average fares, active users, trips per week, and more.
Most of the data only spans one month — December 2013. Even though the numbers are dated, there’s a lot to learn from it.
For example, San Francisco generated nearly $US18 million of revenue that month. A year of that monthly revenue would make San Francisco alone a $US212 million business annually for Uber. And that’s just one market. That calculation also assumes no growth, and Uber has expanded to nearly 100 more cities since then.
Here are some of the key takeaways from the document:
- Uber generates a significant portion of its revenue from its most mature markets. In December 2013, Uber generated about $US11.7 million in Washington D.C. (a ~$US141 million annual run rate). It generated $US26 million in NYC, or an annual run rate of $US312 million. In Chicago, Uber generated $US12.7 million for a run rate of $US152 million. In San Francisco, Uber generated $US17.7 million, a run rate of about $US213 million. Los Angeles generated somewhere between NYC and San Francisco’s revenue.
- If you assume annual run rate based on the December 2013 data, Uber’s top five markets (NYC, DC, San Francisco, Chicago and Los Angeles) would generate about $US1 billion a year. Again, that’s without taking Uber’s growth and expansion into account during 2014. That’s in line with rumoured revenue estimates for Uber, which suggest Uber will generate $US1.5-2 billion of revenue this year.
- Uber’s biggest revenue day last year may have been on December 31, when it generated nearly $US11 million across 60 markets. Its top markets, NYC, San Francisco, Los Angeles and Chicago all generated more than $US1 million that day, and DC generated almost that much — $US918,918). The median Uber city that day, however, generated a mere $US22,226. This shows just how much room for growth Uber has ahead of it.
- The company’s year-over-year growth rate from New Year’s Eve 2012 to New Year’s Eve 2013 was a staggering 369%
- As of last December, Uber was doing more than 100,000 trips per week in each of its largest cities.
- It had hundreds of thousands of active users in those markets. For example, San Francisco had about 70,000 active users per week in December 2013 with just a few thousand active drivers.
Business Insider sifted through and organised the data into a number of charts and graphs to make it easier to scan. We also included the city-by-city breakdowns directly from the Uber presentation so you can see how the charts were derived.
Here’s the most in-depth look at Uber’s operations yet. Uber declined to comment for this story.