Uber IPO | Pixr8 News

27May By PriyankaNo Comments

News

Uber First Employee Quits Company

Uber first employee and the former CEO Ryan Graves resigned from the company’s board of directors, a regulatory filing by Uber said last week. Company’s independent chairperson of the board Ron Sugar wrote in the filing (see pic below) that Graves was key in shaping what Uber is today. Uber's first employee resigned “While this is a bittersweet moment, we accept his personal decision that this is the right time for him to step down. Dara and I are grateful for his contributions to Uber’s success and wish him all the best going forward”, Sugar wrote. Ryan Graves was expected to receive $1 billion from the Uber IPO. Ryan Joined Uber in 2010 after Travis Kalanick CEO & Co-founder tweeted for hiring. Joined in 2010, Graves helped the company to launch its operation offici...

4May By AnkitaNo Comments

News

Travis Kalanick barred from Uber IPO at NYSE

Uber's current CEO is barring the founder and Ex-CEO of Uber Travis Kalanick to take part in the opening bell ceremony held at the New York Stock Exchange next week. In a report published Friday in one of the leading USA newspaper, Uber CEO Dara Khosrowshahi (kahs-row-SHAH'-hee) has decided that Travis Kalanick is not welcome to share the exchange's balcony when Uber begins trading as a public company next Friday. Kalanick co-founded Uber and was CEO until his ouster in 2017 following a series of damaging revelations that sullied the company's reputation among consumers. Those included reports of rampant internal sexual harassment and allegations Uber stole self-driving car technology. The blowback from the problems helped Uber rival Lyft pick up ground in the US something Ub...

PayPal to invest $500 million in Uber before IPO

29Apr By reutersNo Comments

FUNDING

PayPal to invest $500 million in Uber before IPO

Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported. PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources. A financial services component is important to Uber as it works to expand into a "superapp" of logistics and transportation services. Superapps are applications where customers go for a range of services, such as transportation, shopping, and payments. Such companies can be much more lucrative than those that offer just one core business or service. Uber is expected to tell investors it will seek to be valued at between $80 billi...

Uber Reports Earnings, Shrinks on Losses Ahead of IPO

24May By Lavina TolaniNo Comments

BUSINESS

Uber Reports Earnings, Shrinks on Losses Ahead of IPO

Cab riding Major, Uber Technologies has slashed its losses to almost half as its ride bookings have jumped 51 percent since last year, the Silicon Valley ride company reported on Wednesday showing that its business hasn't slowed down despite its retreating from the overseas market. The Cab Aggregator has also reported a one-time gain of $2.5 billion, a majority of which has come from its business sale to Russia and Southeast Asia. Meanwhile, the company is also spending heftily including to expand its on-demand ride business while preparing for an IPO. Interestingly, Uber has said that it would look for secondary share sale for employees and existing investors valuing the company at "$62 billion" A new investor Coatue Management and existing investors Altimeter Capital and TPG wil...