The biggest news about Uber Inc. this week dealt with the company's growing market share, despite its continued legal woes.
In the first quarter of 2015, business spending on Uber accounted for 46% of the overall transportation market. The report was published by Certify, a software company that helps businesses track employee spending. Certify receives more than 28 million trip receipts in North America every year.
That 46% share was more than three times higher than Uber's Q1 2014 total of 15%.
And Uber's growth is having a devastating impact on the taxi industry. The report found that taxis accounted for 53% of business' transportation spending in 2015. Last year, that total was as high as 85%.
"While we often see noteworthy market shifts - leading restaurant chains and hotels exchanging leadership positions, for example - it is unprecedented to see one vendor grow to take such a commanding market share within one year's time," Certify's CEO Bob Neveu said in a news release.
This growing market share helps explain Uber's huge revenue totals. In January, CEO Travis Kalanick said Uber generates more than $500 million annually from the San Francisco market alone. He also said the number of rides in San Francisco is growing by about 200% per year.
More news about Uber and its funding came out in late 2014, when the company raised $1.2 billion at a valuation of $41.2 billion. That made the company the second most highly valued startup on the market.
Since Uber is not a public company yet, we don't have access to its financials. But we could as soon as late 2015, when an Uber IPO might happen.
But before Uber stock hits the market, the company will need to straighten out a major problem. Even this week's bullish news about Uber won't make this problem go away...
One Major Issue Looms, Despite This Week's News About Uber
Uber operates in more than 250 cities across 55 countries, but it gets the most attention for the places it is banned.
This map indicates where Uber is banned as of April 14.
The taxi industries and legislators in various cities around the world have also taken exception to Uber's practices. In many countries, Uber does not meet the necessary licensing and safety requirements.
On April 1, Uber voluntary removed itself from San Antonio, Texas, after an ongoing legal battle regarding the company's background checks for drivers.
On March 24, courts in New Delhi, India, upheld a ruling banning all Uber operations. The operations were originally suspended in December after a passenger reported being raped by a driver.
The company's cheaper alternative "UberPop" was ruled unlawful in Frankfurt, Germany, on March 18. Legislators there ruled that Uber drivers must carry the same official permits as taxi drivers.
In early December, Uber was banned in the Netherlands when a Dutch court ruled the company breaks local taxi laws. The court also ruled that Uber does not meet the country's licensing, insurance, or safety regulations designed for the taxi industry.
Similar rulings have occurred in Thailand, the state of Nevada, and Madrid. In those locations, legislators have deemed the company's business unlawful due to tax, payment, and licensing regulations.
Uber is also facing suspension in Portland, Ore., although the decision is still pending trial. The city says Uber is operating an "illegal, unregulated transportation service." Portland officials claim Uber operates without the correct company permit and without a vehicle permit.
Finally, Uber operates under close regulation in Singapore. There, fees charged to users cannot exceed what a government regulated taxi would charge.
The Top IPOs to Watch in 2015: Uber is one of the biggest names to watch on the IPO market in 2015, but it isn't the only big-name company coming to market. Just like 2014, 2015 is shaping up to be another huge year for initial public offerings. Here are the top five IPOs to watch this upcoming year...