New Uber boss targets IPO within 18-36 months

Posted September 01, 2017

In remarks given during his first appearance in front of Uber employees on Wednesday, Khosrowshahi said that the company could do an initial public offering in 18 to 36 months, reports the Wall Street Journal who spoke with a person in attendance.

"He's adult enough to face the cultural issues at Uber, and he's not stodgy or from a legacy technology company", said Henry Harteveldt, a travel industry analyst at Atmosphere Research who has followed Khosrowshahi's career at Expedia.

In addition to taking the CEO chair, Khosrowshahi will likely get a seat on the board, Bloomberg said.

San Francisco-based Uber said it was cooperating with an investigation into possible violations of the Foreign Corrupt Practices Act, but did not disclose details.

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"We all wish Dara Khosrowshahi the best good fortune as Uber's CEO".

Khosrowshahi was appointed chief executive of Uber earlier this week.

However, Expedia board chairman Barry Diller appeared to confirm the choice in a filing with the Securities and Exchange Commission.

In his role as chief financial officer, he held responsibility for all aspects of finance, including planning & analysis, accounting, tax, treasury, internal audit, procurement, real estate and investor relations, as well as corporate strategy for Expedia. The former CEO also now controls two other unoccupied board seats, which were granted to him in a 2016 decision that Benchmark is disputing in the suit. I think everybody knows it.

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In an email sent to Uber employees on August 29, the board of directors wrote, "We're really fortunate to gain a leader with Dara's experience, talent, and vision". He oversaw a publicly traded business making him a good fit to take Uber public. "I've been here at Expedia for so long that I've forgotten what life is like outside this place. but. you have to move out of your comfort zone". In short, I would assume largely a continuation of the strategic course we have been on.

I am fortunate to be surrounded by the strongest Travel Leadership Team I have ever seen at Expedia, Inc., and objectively one of the strongest and deepest executive teams out there. I won't B.S. you, and I hope you won't B.S.me.

I look forward to speaking with you all soon and I am super excited for this next chapter.

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