Uber on target for 2019 IPO according to its CEO

Uber CEO, Dara Khosrowshahi, has announced that the ride hailing service, Uber, is on track to go public in 2019. The relatively new CEO said that the firm was in a “good spot” in order to go public, despite recent issues around the ex-CEO, Travis Kalanick, a legal battle against Alphabet’s Waymo, and the firm losing its license to operate in London.

Speaking to CNBC, Khosrowshahi is on record as saying:

“We're in a good position in terms of the company's profile, in terms of profitability and margins continue to get better.

I do think that we're on track in 2019 for an IPO. Lots of things can happen in the world but we have a reasonable buffer as well, so I think we're in a pretty good spot.”

The firm, according to people with knowledge on the matter, is expected to go public in late 2019. It hasn’t starting interviewing banks yet in order to get the process started which is probably not a bad thing given recent news coverage. We did report earlier, however, that Uber was in talks with Waymo to get the latter’s driverless vehicles in the Uber network. If the firm can pull off a deal with its former legal foe, it could restore its reputation somewhat.

Khosrowshahi will no doubt be hoping that the issue of the firm’s license revocation in London will also be solved by the time it is ready to go public, after that, he’ll no doubt be excited to start work on those flying cars we’ve been promised.

Source: CNBC

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