Uber Technologies Inc. a global transportation application company is currently operating in 633 cities of the world. The company was founded in March 2009 by Travis Kalanick and Garrett camp. Since its foundation Uber has raised $10 billion in its capital. The transportation technology company is headquartered in San Francisco, California, United States.
Uber To Go Public:
Uber CEO Dara Khosrowshahi revealed that the revolutionary transportation company could probably obtain public listing in 2019. It has to be considered that despite Uber currently has a market capitalization of $70 Billion, the management has decided to go public which will definitely make the most valued startup of the world. The decision for going public has been taken after just spending two months by Khosrowshahi as CEO of the Uber.
“The company has to change. What got us here is not what’s going to get us to the next level,” Khosrowshahi said to the employees of Uber during the first meeting in San Francisco. Khosrowshahi’s predecessor Travis Kalanick who is also founder of the company did not show any interest in getting the Uber towards listing. But new CEO believes that it might the best decision to go public to accelerate the company’s growth. This is also seems to be an attempt to revamp the company’s damaged goodwill due to recent cultural issues and scandals under the umbrella of Uber Technologies Inc.
Uber May Consider Merger With Competitor:
Another surprising statement that has been revealed by the CEO is that “Depending on the price and conditions, it is possible that we could shift our investment to the other similar company operating in California named as Lyft”
Now it’s a matter of time that will decide whether this decision to go public or possibly to go towards merger will be fruitful or not. Thanks for reading the blog. Subscribe now for more blogs like this.