Ride-sharing app Uber has shaken up the way we arrange our private transport needs. Its rapid growth has proved controversial – particularly amongst traditional cabbies – but there's no denying the huge explosion in its use.
This popularity has now prompted Google Ventures – a major investor in the application – to say that Uber could eventually be worth over $200billion.
To put his bold claim into context, that sum is roughly equal to the market value of Toyota, one of the world's largest carmakers and the fourteenth largest company in the world by revenue.
Last year, Uber was valued at $17billion and is now in use in more than 140 cities across the globe.
Bill Maris, managing partner of Google Ventures, told Bloomberg News of his confidence in Uber's founder and CEO Travis Kalanick: "His vision is huge and he has showed he can execute," he said.
Maris was also confident of the growth of the Uber business model, which could see the startup diversify from a simple taxi service, to offering deliveries and logistical services – a move that could see the company's market value skyrocket.
"It's an incredibly creative team - their growth shows they are clearly onto something," said Maris. "But, like any startup, it could also go down to zero."
Do you use Uber to arrange transportation? Why do you choose one over a conventional taxi? Have your say below.