New CEO at Uber Dara Khosrowshahi has a goal of taking the ride-hailing company public within the next 24 to 36 months, said a report in The Financial Times.
The former boss of Expedia who will take the reins at Uber in less than a week, reportedly told staff at the ride-hailing startup on Wednesday that the company must focus on paying its bills and regaining much needed market share from hits biggest rival Lyft.
Not many detail of a possible initial public offering were available, but a listing of Uber would likely be one of the largest tech IPOs of the current decade.
Uber at this time is the most valuable private business in the world at $68.5 billion. However, it has been hit with several scandals such as allegations of office place sexual harassment and illegal taxi operations.
If Uber went public it would become much more accountable and help its growth. No comment was released by a spokesperson at Uber when requested.
Audio was leaked that revealed how Uber’s new head got the CEO position.
A bid embarrassing, the audio of Khosrowshahi’s first take was leaked. In his first speech, he detailed how he was given the top job at the company and what the Uber staff could expect from their new CEO. However, no reference to any IPO is made in the audio.
He told the staff that he would not bullshit them and did not want them to bullshit him. He added that the company was in a big battle and he believed everyone there knew that and he was all in to fight for the company with everything he had.
A headhunter contacted Khosrowshahi about the job at Uber over the past couple of months, but initially he did not have any interest in it.
However, Khosrowshahi explained that the founder of Spotify Daniel Ek had convinced him to apply for the position when the two met at a conference for investors.
Khosrowshahi met with each member of the Uber board during his interview process. For example, he met with Arianna Huffington at her apartment and ate Greek food with the board member.
He went on to say how the former CEO and the co-founder of Uber Travis Kalanick, who is still on the Uber board, persuaded him to leave his position at Expedia and join the ride-hailing company.
Khosrowshahi also said how Kalanick had insisted all of their conversations on the phone were on FaceTime.