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Uber CEO Dara Khosrowshahi Plans to go IPO in Coming Three Years

31 August 2017, USA:

Uber chose Expedia CEO Dara Khosrowshahi as its new CEO on Sunday and he is determined to take Uber out of all the controversies and legal disputes.

“This company has to change. What got us here is not what’s going to get us to the next level,” Khosrowshahi told Uber’s employees during an all-hands meeting in San Francisco on Wednesday. He also said that Uber is not planning to go IPO next year but the move is possible in three years time.

Former CEO and co-founder of Uber Travis Kalanick said, “Casting a vote for the next chief executive of Uber was a big moment for me and I couldn’t be happier to pass the torch to such an inspiring leader.”

Tusk Ventures founder Bradley Tusk, who was an early investor in Uber beginning in 2011, believes an Uber IPO could happen as soon as within 18 months. “If Khosrowshahi can trim Uber’s losses, get it on a path to profitability and demonstrate that he’s cleaned up its corporate culture so that people want to work there, the company could in much better shape for an IPO,” Tusk said.

uber ipo

Khosrowshahi is taking over Uber at a critical and vulnerable time for the company. Uber’s last year has been ridden with scandals from an overhaul of its workplace culture to several federal investigations into its different business practices. On Tuesday, the Wall Street Journal reported that the company could now add a preliminary inquiry from the Department of Justice as to whether or not Uber broke foreign bribery laws to the list of problems Khosrowshahi will have to tackle. (Images- Arianna Huffington Twitter)

Also read- Uber Confirms Dara Khosrowshahi as New CEO

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