Uber is in no rush to go public this year, according to CEO Dara Khosrowshahi.
Khosrowshahi told The Wall Street Journal that he and investors would be “disappointed” if there was no IPO, but that “the company would be just fine.”
The comments appear to be a softening of Khosrowshahi’s position last year, when he consistently said Uber is “on track” to IPO in 2019.
Uber might not IPO this year after all, CEO Dara Khosrowshahi has told The Wall Street Journal.
In an interview published on Tuesday, Khosrowshahi said the company is in no rush to go public and may choose to bide its time and ride out rough market conditions.
“We’ll do it when we’re ready, and, hopefully, the markets will be in a good state,” he said, adding that the ride-hailing firm has “got a strong balance sheet so we don’t need to go public this year.”
“It’s a desire,” he continued, but “if it doesn’t happen it doesn’t happen.”
“I’d be disappointed and I think our shareholders would be disappointed but the company would be just fine,” he said.
The comments appear to be a softening of Khosrowshahi’s position last year, when he consistently said Uber is “on track” to IPO in 2019. He did, however, add the caveat of “market conditions permitting” during an interview with Reuters in September 2018.
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Since that interview, tech stocks have taken a hammering, led by companies including Apple and Facebook. The former has lost more than $450 billion from its valuation since it hit a record high 0f $1.12 trillion in October, and last week issued its first earnings warning in nearly 17 years.
But Uber’s …read more
Source:: Business Insider