Uber CEO Plans IPO in 2019

Uber wants to be the “Amazon for transportation.”

Tech
2,227 Hypes 1 Comments

Uber‘s new CEO Dara Khosrowshahi has announced in a recent CNBC interview that the company intends to go public during the second half of next year. Khosrowshahi has stated the company is “on track” to go public, as they’re in “a good position in terms of the company’s profile, in terms of profitability and margins continue to get better.”

He has expressed his want for Uber to become “the Amazon for transportation,” as the company’s ridesharing service has spread to food delivery with Uber Eats, which has achieved a $6 billion USD run rate in a relatively short time. The company intends to branch out more “whether it’s taking a car, whether it’s taking a pooled car, whether it’s taking a bike, whether you should walk or even now we want to build out the capability for you to take a bus or subway,” Khosrowshahi told CNBC. “We want to be the A-to-B platform for transportation.”

Despite the company’s enthusiasm to grow, the company is under fire for losing $10 billion USD in the course of a decade and for the death of a pedestrian that was struck by one of its autonomous vehicles. Autonomous driving is the ultimate goal for the company and Uber is even developing the tech itself after recently settling a lawsuit with Google’s Waymo, who were developing similar technology.

In related news, Warren Buffett previously offered to invest $3 billion USD in Uber.

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Source
CNBC

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