Uber’s Upcoming IPO
Imagine if your company was worth $62 billion. How would you feel? You’d probably be pretty pleased with yourself. But what if you were also losing a serious amount of money every year?
This is the situation that faces Uber and its CEO Dara Khosrowshahi. Uber is valued at $62 billion, but in the third quarter of 2017, it reported of a loss of nearly $1.5 billion. And that was on top of similar figures that had already stacked up against the company.
In this blog from Blue Whale Media, the web design agency Manchester, we’ll look at Uber’s future plans and how it intends to go public in 2019.
What’s The News From Uber?
The company revealed in May 2018 that it has strong revenue growth and reduced loses. In fact, revenue was up 67 percent on-year.
CEO Dara Khosrowshahi said the company is on “target” for an IPO in 2019. But why are they making that move? Dara gave a reason during an interview at the New York Times DealBook Conference in Manhattan.
“We have all of the disadvantages of being a public company, as far as the spotlight on us, without any of the advantages of being a public company,” he said.
How Is Dara Different To Travis?
At our web design agency Manchester, we’re fascinated by the success of Uber and keen to see how it develops.
Dara took over the company in August 2017, and his attitude to the IPO seems different to his predecessor, Uber co-founder Travis Kalanick, who previously resisted the move to go public. But Dara explained that Travis has had a change of heart. “Travis and the whole board now agree that we should just go public,” he said.
But at our website design Manchester company, we’ve noticed that Dara wants to make changes before the IPO goes ahead. He wants to…
- expand his management team
- work on the company’s brand
- hire a chief financial officer
These alterations come in the wake of numerous scandals that have beset the company, including allegations of sexual harassment, an accusation of stealing trade secrets (which is now settled), and criminal investigations instigated by the US Justice Department.
But Dara seems confident that Uber will be in good shape for an IPO in 2019.
The Flying Car
Here at our web design agency Manchester we’re impressed with Uber’s desire for innovation. Notably, it has unveiled plans to introduce a “flying car” in two to five years. At its annual Uber Elevate Summit the company revealed a prototype for the flying car, which looks like a large drone, with four rotors on wings.
Uber says the cars would…
- fly 1,000 to 2,000 feet above ground and be quieter than a helicopter
- perform vertical take-offs from skyports, which would be able to handle 200 take-offs and landings every hour
- be flown by pilots initially, but would one day become automated
Call Your Website Design Manchester Agency Today
Here at Blue Whale Media we love all things related to technological development. So call us today for web design, marketing, SEO or content creation services.