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Uber CEO Kalanick: No plans to go public now

Wednesday, 6 Nov 2013 | 2:44 PM ET
Uber CEO Travis Kalanick
Getty Images
Uber CEO Travis Kalanick

As Twitter gets ready to go public, there has been a lot of speculation that Uber could be one of the next mobile apps to test the public markets.

Not so fast, says Uber CEO Travis Kalanick.

"We have no interest in taking the company public anytime in the near future," he told CNBC in an exclusive interview. "Why should I?"

With the global taxi and limousine app in 50 cities around the world, Kalanick said, he is focused on aggressive global expansion. All you have to do is go to the Uber website to see dozens of international jobs available, from Bogota and Mexico City to Beijing and Mumbai.

Founded in 2009, the company is increasing revenue at a double-digit rate every month and recently closed another round of venture financing, he said.

Uber's most recent investors include Google Ventures and TPG Growth, which led its C Series round for $258 million. Early investors included Troy Carter, Lady Gaga's former manager; Amazon founder Jeff Bezos' Bezos Expeditions; Goldman Sachs; and Benchmark Capital. The company has raised more than $300 million to date.

Several venture capital investors tell CNBC that Uber's valuation is now approaching $4 billion.

"Going public is not on our minds, and we don't have any plans to do it," Kalanick said. With more than 1 million riders, the company hopes to offer service in the 500 biggest, global cities.

(Read more: Wealthy Chinese gobbling up Silicon Valley homes)

Twitter: The tale of two markets
CNBC's Kayla Tausche discusses the favorable market conditions Twitter will enter compared with those that Facebook confronted.

While San Francisco-based Uber is growing quickly and expanding its workforce, the company also faces some hurdles.

The company has legal challenges with urban taxi and limousine agencies around the country, and is in a spat with the California Public Utilities Commission specifically. Uber would not comment on ongoing legal discussions with regulators. It also faces pricing pressure from competitors such as Lyft.

Uber recently added several heavyweight board members, including David Drummond, Google's chief legal officer, and David Bonderman, founding partner of TPG.

Uber is becoming "one of the largest mobile e-commerce companies in the world," Kalanick said.

It had only 115 employees last year and now has more than 420. It will add hundreds more, especially in Latin America, Europe and Asia.

CNBC's Mark Berniker and Josh Lipton

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