December 2013: Internal Uber Deck Revealed Staggering Revenue And Growth Metrics

The very detailed snapshot of Uber in December 2013 is provided by this 19-slide deck.

Most would consider December 2013 as the inflection point of Uber’s impact on the taxi industry. 2013 was the peak year for ridership, passenger revenue and driver earnings in many U.S. cities. By December 2014, Uber had devasted the taxi industry in most of these cities.

Uber’s initial and most mature market, San Francisco, is the bellwether for the future of Uber’s impact during 2016 and going forward in other cities.

The average number of trips per taxi in San Francisco.was 1,424 per month in March 2012. By July 2014, the average number of trips had rapidly dropped  by 65% to 504.

Also see this graph in an NBC report.

As in other cities, regulated taxis retain the exclusive right to pick up passengers as street hails and at private and public cab stands.

Uber will never get these rights and doesn’t want them because they just don’t fit their business model.

These exclusive rights should provide a sustainable equilibrium in cities that used to have a  medallion system, yet retain a cap on the number of regulated taxis.

Could the decrease by 65% from peak be a good estimate for this equilibrium level in many cities?

If so, then the playing field would be leveled with Uber, if and only if, the current medallion system created to make medallions tradable securities is abolished.

The leaked information below includes December 2013 data from New York, Chicago, San Francisco, Los Angeles and Washington, DC.

Here’s the article:

LEAKED: Internal Uber Deck Reveals Staggering Revenue And Growth Metrics

By Alyson Shontell
Business Insider
November 20, 2014

Uber is a four-year-old mobile ride service company that could soon generate $10 billion of revenue per year, according to a source familiar with the numbers.

How much revenue is Uber already 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 presentation that’s nearly 60 pages long last week 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 spans only one month, December 2013. Even though the numbers are dated, there’s a lot to learn from it.

For example, San Francisco generated nearly $18 million of revenue that month. (Uber’s revenue is the total amount it collects from riders, most of which Uber then pays to drivers.) A year of revenue at that monthly rate would make San Francisco alone a $212 million business annually for Uber. And that’s just one market. That calculation also assumes no growth, and Uber has expanded to 230 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 $11.7 million in Washington, D.C. (a ~$141 million annual run rate). It generated $26 million in New York City, or an annual run rate of $312 million. In Chicago, Uber generated $12.7 million for a run rate of $152.4 million. In San Francisco, Uber generated $17.7 million, a run rate of $212.4 million. Los Angeles generated somewhere between the revenue of New York and San Francisco.
  • An annual run rate based on the December 2013 data for Uber’s top five markets (NYC, D.C., San Francisco, Chicago, and Los Angeles) would generate about $1 billion a year. Again, that’s without taking Uber’s growth and expansion into account during 2014. That’s in line with rumored revenue estimates for Uber, which suggest Uber will generate $1.5 billion to $2 billion of revenue this year.
  • Uber’s biggest revenue day last year may have been on Dec. 31, when it generated nearly $11 million across 60 markets. Its top markets, NYC, San Francisco, Los Angeles, and Chicago all generated more than $1 million that day, and DC generated almost that much — $918,918). The median Uber city that day, however, generated a mere $22,226. 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 organized 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.

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