Uber pitches expansions while investors question losses
5 years, 8 months ago

Uber pitches expansions while investors question losses

Live Mint  

Uber Technologies Inc. is betting expansion into new markets and new business areas will attract investors to its initial public offering. During the Q&A session, Uber management shared its plan to expand in logistics and other transportation businesses, including scooters, autonomous driving and mass transit, one of the people said. Unlike its competitors, Uber’s existing platform allows it to benefit from customer retention and cross-sell new products, Khosrowshahi said, according to the person. Still, Uber management reassured investors about the firm’s path to profitability, one of the people said. The London investor group meeting was the only European stop for Uber’s team, which is wrapping up the roadshow with one-on-one meetings with big institutions, including global assets managers and mutual funds, the person said.

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History of this topic

Uber vows to tackle losses, with help from India
5 years, 2 months ago

Uber vows to tackle losses, with help from India

Live Mint  

Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges. It was a profitable company with significant cash flows,” Khosrowshahi said at Uber’s engineering center in Bangalore, which was decked out with oil …

Column: As was predicted, Uber’s IPO means you’ll be paying higher fares for your rides
5 years, 7 months ago

Column: As was predicted, Uber’s IPO means you’ll be paying higher fares for your rides

LA Times  

Uber’s first-quarter earnings report released Thursday — its first since the ride-hailing company went public on May 10 — disclosed more than the financial condition of the company. — Uber CFO Nelson Chai During their conference call with investment analysts following the company’s earnings release Thursday, Uber’s leadership didn’t say explicitly that fares would be rising. “Uber’s growth to date …

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype
5 years, 7 months ago

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype

CNN  

New York CNN Business — Uber and Lyft were two of the most highly anticipated IPOs in recent memory. The high-profile flops demonstrate the need for money-losing companies to do a much better job explaining how they’ll eventually make money, according to Carter Mack, whose investment bank helped bring Uber and Lyft public. The disappointing debuts of Uber and Lyft, …

Uber's Underwhelming IPO, Lyft Earnings and More Car News This Week
5 years, 7 months ago

Uber's Underwhelming IPO, Lyft Earnings and More Car News This Week

Wired  

Finally, after much ink spilled and many hours prognosticating, it happened: Uber started trading on the stock market. One thing you don’t want to hear from inside a self-driving race car as it preps to make a hairpin turn: “This one’s going to be a little fast.” General Motors’ autonomous vehicle unit, Cruise, raises another $1.15 billion. A global strike …

Uber’s IPO joins ranks of Wall Street flops
5 years, 7 months ago

Uber’s IPO joins ranks of Wall Street flops

Live Mint  

New York: It was to usher in nothing less than a new era for Wall Street. Done in by a broad stock market selloff and a weak earnings report posted by its primary rival, Uber plunged immediately at the opening of trading, falling as much as 8.8% from its IPO price of $45 per share, a level that was already …

A Bet on Uber Is a Bet on Self-Driving
5 years, 7 months ago

A Bet on Uber Is a Bet on Self-Driving

Wired  

On Friday morning, Uber executives rang the opening bell of the New York Stock Exchange as their 10-year-old, $82 billion company went public. But the most important activity Friday for Uber’s future may happen 370 miles away, in Pittsburgh, headquarters of the company’s Advanced Technologies Group. If it works, that self-driving technology might finally lead the ride-hailing company to the …

Uber’s crazy ride: From cool app that saves time to biggest IPO in years
5 years, 7 months ago

Uber’s crazy ride: From cool app that saves time to biggest IPO in years

Live Mint  

How much is a great idea worth? “He’s an incredible idea generator,” says Tim Ferriss, a friend and self-help author who invested in Uber after Camp pitched him the idea at a bar in 2008. Kalanick helped recruit Ryan Graves as Uber’s first CEO with a tweet promising “BIG equity, big peeps involved.” Graves spent his first six months getting …

Uber CEO Dara Khosrowshahi, management team take IPO roadshow to New York as demand builds up
5 years, 8 months ago

Uber CEO Dara Khosrowshahi, management team take IPO roadshow to New York as demand builds up

Firstpost  

Uber is set to price its $10 billion IPO on 9 May, seeking a valuation of up to $90 billion New York: Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant’s investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. At a lunch …

Uber takes investor roadshow to New York as demand builds up before its IPO
5 years, 8 months ago

Uber takes investor roadshow to New York as demand builds up before its IPO

Firstpost  

Uber’s IPO is being led by Morgan Stanley, Goldman Sachs Group Inc and Bank of America Corp. Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant’s investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. At a lunch presentation in the Mandarin Oriental …

Opinion | Uber’s IPO filing affirms a dangerous business model
5 years, 8 months ago

Opinion | Uber’s IPO filing affirms a dangerous business model

Live Mint  

Last week, in Delhi, I took an Uber cab to the airport from my home, a distance of about 14 kilometres. In Uber Eats, for instance, which has declined for two successive quarters, it is forced to accept a lower rate of revenue to gross bookings, to bring on board what it calls “large-volume restaurants at a lower service fee …

Uber unveils IPO with warning it may never make a profit
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit

Live Mint  

Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its IPO filing. The S-1 filing underscores Uber's rapid growth in the last three years but also how a string of public scandals and increased competition from rivals have weighed on its plans to attract …

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future

Firstpost  

Although Uber’s user base includes customers of other services as well as ride-sharing, Uber’s 91 million is nearly five times the 18.6 million announced by rival Lyft Inc. New York: Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its initial public offering filing. …

Uber seeks $10 billion in year’s biggest IPO
5 years, 8 months ago

Uber seeks $10 billion in year’s biggest IPO

Live Mint  

San Francisco: Investors could get their first look at hundreds of pages of detailed information about Uber Technologies Inc as soon as Thursday, as the ride-hailing giant gears up to publicly file for an initial public offering. Prospective investors are hungry for the minutiae, and they’re now armed with ride-hailing rival Lyft Inc’s March listing as a reference point for …

Uber plans to kick off IPO in April, right after Lyft’s
5 years, 9 months ago

Uber plans to kick off IPO in April, right after Lyft’s

Live Mint  

San Francisco: Ride-hailing company Uber Technologies Inc. is planning to kick off its initial public offering in April, putting it close on the heels of smaller rival Lyft Inc., people familiar with the matter said on Thursday. Uber's business is much larger and more diverse than Lyft's, and the firm has moved relatively swiftly to go public given both firms …

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