Editor's note: We are happy to welcome Sean Scott founder of WeArePlaying.It as contributor.
Over the last few months, Uber, the startup juggernaut has seemingly had missteps on a weekly basis. For those unaware, here is a quick recap:
- Senior VP, Emil Michael in a half-drunken speech talks about hiring opposition researchers against media/journalist to launch a smear campaign
- Uber comes under fire for unveiling Creepy Stalker View at party, a mode where party goers were able to see the identity of Uber customers in transit and awaiting pick up
While there has been an uproar from media and some celebrities the companies still enjoys a privileged position in Silicon Valley. The question thus arises as to why?
Simply put, it's a cash and growth machine. Let's talk numbers (via Business Insiders):
- Uber is on a trajectory to gross $10 billion in 2015. That's billion not million.
- Uber keeps 20% of that gross before paying drivers.
- At that gross, it will have a growth rate year over year of 300%. That's 300% growth in total revenues from 2013 to 2014 and again 300% total revenue growth from 2014 to 2015.
- And here is the kicker. The majority of that revenue comes from just 10 cities. Uber operates currently in 150 cities in about 46 countries. That is the definition of scale and growth potential that is hard to pass up.
With little competition that is able to execute at their level, Uber will continue to receive a pass from investors when it comes to its weekly missteps. However, its branding could be negatively affected in the long and short term if it doesn't develop a better PR strategy and a better public posture / persona.
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