Advertisement

New Uber chief says company going public within 36 months

By
Ed Adamczyk
Ride-share company Uber could begin to sell public stock within the next 36 months, its new CEO said Wednesday. File Photo by Shutterstock/360b/UPI
Ride-share company Uber could begin to sell public stock within the next 36 months, its new CEO said Wednesday. File Photo by Shutterstock/360b/UPI

Aug. 31 (UPI) -- The new chief executive of Uber said at his introductory meeting that the ride-sharing company will go public sometime in the next 36 months.

Dara Khosrowshahi met with staff and promised changes to the company, including the initial public stock offering.

Advertisement

The former Expedia CEO will lead the company starting next week.

"This company has to change. What got us here is not going to get us to the next level," he said at the intro in San Francisco Wednesday.

"It's my opinion that the company should go public," Khosrowshahi added, according to people at the meeting.

Khosrowshahi said the time frame for an Uber IPO is 18 to 36 months.

Uber, which has a $68.5 billion valuation, took 70 days to replace its CEO after the resignation of co-founder Travis Kalanick. It is dealing with allegations of sexual harassment and illegal taxi operations, as well as an ongoing lawsuit involving Kalanick.

The former chief was sued by Uber investor Benchmark in an attempt to remove him from the board of directors. The company reported a $645 million loss in one quarter, and until this week has operated without key executives.

Advertisement

At Khosrowshahi's introduction, employees and investors were said to be excited by Uber's apparent turn of direction.

Latest Headlines