And in a rare look into the start-up's financials, he says it is predicting a run rate of $1.5 billion in this segment next year. That's a significant chunk considering leaked documents that show revenue on pace to top $1.5 billion in 2015.
Bogard was hired by Uber from Jawbone earlier this year to grow the enterprise travel segment and he branded it "Uber for Business" in a blog post on Uber's site Friday morning.
In the nearly five months since Bogard joined, he's added big corporate customers to Uber for Business like Goldman Sachs, Accenture and Salesforce. The business platform now offers premium services, like accounting, for a fee, he said. Importantly, the segment would create a recurring revenue stream for the company — an important metric for investors when Uber goes public.
Uber's push into the business travel segment is still in early stages, Bogard said. He expects the number of companies and users using Uber for Business to double by the middle of next year.
Still, a run rate of $1.5 billion for the segment in 2017 only goes so far at Uber's current burn rate. But Uber for Business may be another indication that the young, disruptive start-up is growing up and showing more discipline.
Earlier this year, Uber retreated from China where it was losing $1 billion a year to compete with local ride-hailing giant Didi Chuxing. In return, it washed its hands of losses, got a $1 billion investment and a 17.5 percent stake (worth $7 billion) in its rival.
"Twelve months ago, Uber was at war on a number of continents. With Lyft in the U.S., Didi in China, Ola in India, GrabTaxi in Singapore and Malaysia. Being able to focus their efforts where they can leverage what they already have is an opportunity," said Michael Moe, CEO of GSV Capital in Silicon Valley.