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Uber to reach £6.8 billion in bookings by 2015, £16.6 billion by 2016

Uber has revealed projected earnings for 2015 and 2016 in the latest funding round. In 2015, it plans to reach $10.8 billion (£6.8 billion) in bookings and should reach $26.12 billion (£16.6 billion) by 2016.

The mobile taxi firm takes 20 per cent of all bookings, meaning it should make $2.16 billion (£1.38 billion) in revenue this year, and $5.24 billion (£3.33 billion) by 2016.

Those are impressive numbers, but will most likely account for no profit. Uber continues to expand at a rapid pace, meaning advertising, driver and legal costs will override the £1.38 billion it plans to make this year.

Even with no profit, Uber is still valued at £32 billion by investors. That is a higher valuation price than Twitter, Tesla Motors and Snapchat.

In the funding round presentation, Uber also said it plans to go public in between 12 and 24 months. That is a large timeframe, but removes any chance of the taxi firm going public in 2015.

UberChina also plans to go public locally, splitting off from the main company. It hopes that with a local IPO, it will be able to win some Chinese loyalty and remove the Chinese government tension.

Along with taxi services, Uber is branching out to get involved in commercial delivery. Food, clothing and other e-commerce goods can be delivered by the same drivers that work on the taxi service.