UBER IPO in 2019 ‘a go’

The chief executive officer of Uber Technologies Inc. says the company is still planning to forge ahead with an initial public offering in the second half of 2019.

“At this point, it’s all systems go,” said Dara Khosrowshahi, who joined Uber as CEO in August 2017 after co-founder Travis Kalanick was ousted from the top job, in an interview with BNN Bloomberg’s Amanda Lang Thursday.

Khosrowshahi was in Toronto Thursday to announce a new engineering hub and the expansion of its already-existing self-driving centre.

In terms of what investors need to see for a successful IPO, Khosrowshahi told BNN Bloomberg is a path to profitability,

“When you look at our business, there are many different segments: there’s a ride segment, which is our most mature segment, and I think we’ll be able to demonstrate within the rides business a path to profitability continuing to increase our contribution margin,” he said.

Uber is currently valued at more than US$70 billion, but Khosrowshahi said he tries to not get too caught up in the numbers.

www.bnnbloomberg.ca/it-s-all-systems-go-for-an-ipo-in-2019-uber-ceo-says-1.1137409

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