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How Many Uber Riders Are There?

By Rideshare Community Support / Published on Saturday, 22 Oct 2016 23:58 PM / Comments Off on How Many Uber Riders Are There? / 284 views

How Many Uber Riders Are There

Community Discussion| How Many Uber Riders Are There?

At Vanity Fair’s New Establishment Summit, held recently this October, Uber CEO Travis Kalanick gamely remarked that he currently does not use a car himself (his own car’s alternator belt was broken and his driver’s license was expired, he says).

The implication here is that he has enough trust in his company’s services to be able to get himself around.

But it really doesn’t take a genius to see through the jokes. Kalanick knows the value of his own company, and he knows that it is valued much.

How much is Uber worth 2016?

With Saudi Arabia’s recent investment, on paper Uber is now worth $68 billion, making it the most valuable privately-held company in all of Silicon Valley. Pretty impressive for a fledgling startup that hasn’t passed the one decade mark yet.

Uber Billion Dollar Loss…

However, Bloomberg News reports that Uber lost around 1.2 Billion just in the first half of 2016.

But, how many Uber riders are there?

At the same event, Kalanick also divulged that Uber now has 40 million active riders all over the world, most of which are paying at least fifty dollars a month to avail themselves of Uber’s ride-sharing services.

That’s a whopping six billion dollars per quarter. Even Bloomberg noted the fast jump, reporting in August that the company had processed $3.8 billion bookings in the first quarter of 2016 alone.

Though there are no official dates for an IPO yet, many are waiting with bated breath for this announcement. Kalanick did mention that if there will be an IPO, it will be “as late as possible.”

If it happens next year, it will be the IPO that will shake up the whole of Wall Street.

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