Markets

Uber’s CEO is spending millions on shares as Travis Kalanick cashes out

UberCEO Dara Khosrowshahi spent $US6.7 million on shares of the company on Monday, November 18, SEC filings show. Khosrowshahi now holds 1.53 million Uber shares, roughly 0.09% of the stock outstanding. The purchase comes as co-founder Travis Kalanick cashes out. The former CEO has sold $US882 million in Uber stock […]
Uber’s CEO is spending millions on shares as Travis Kalanick cashes out
Markets

Uber is set to report 3rd-quarter earnings on Monday. Here’s what 6 Wall Street analysts are saying ahead of the report.

Uber reports third-quarter results after market close on Monday, November 4. After Lyft’s rosy results, Wall Street is expecting that Uber will have a similarly strong quarter as the competitive landscape cools for both ride-sharing companies Still, analysts caution investors that Uber’s post-initial public offering lockup period expires November 6, […]
Uber is set to report 3rd-quarter earnings on Monday. Here’s what 6 Wall Street analysts are saying ahead of the report.
Markets

The man who runs the $100 billion SoftBank Vision Fund dismisses the idea that his firm values companies too high — even after Uber and WeWork have struggled to live up to extreme valuations

SoftBank Investment Advisors CEO Rajeev Misra, who oversees the $US100 billion Vision Fund, denied that the fund overvalues companies in a rare interview with the Nikkei Asian Review. Misra said the short-term price doesn’t matter if the company is successful in the long run. Softbank has come under fire after […]
The man who runs the $100 billion SoftBank Vision Fund dismisses the idea that his firm values companies too high — even after Uber and WeWork have struggled to live up to extreme valuations
News

Employees at Uber’s headquarters reportedly started drinking before 6 a.m. on the day of its IPO, and a party at another office was shut down

Partying at Uber‘s headquarters in San Francisco started at 5:30 a.m. on May 10, the day the company launched its initial public offering,The Washington Post‘s Faiz Siddiqui reported. San Francisco employees started drinking in the office during the morning and continued drinking throughout the afternoon, the report said. The festivities […]
Employees at Uber’s headquarters reportedly started drinking before 6 a.m. on the day of its IPO, and a party at another office was shut down
Tech

Uber had the worst first-day dollar loss ever of any US IPO

Uber started trading on Friday in an initial public offering that valued the company at $US75.5 billion. By the end of day Friday, the stock was trading down 6.7% off the $US45 a share, where the company had priced on Thursday night. With a cumulative loss of $US655 million, it’s […]
Uber had the worst first-day dollar loss ever of any US IPO