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Dara Khosrowshahi: All Uber board agreed IPO in 2019

Uber's CEO, Dara Khosrowshahi, on Thursday said on track for an IPO in 2019 and the company will not be dependent on new funding from SoftBank. The technology giant headquartered in San Francisco said "2019 is the target" where Travis Kalanick and other board members agreed on the IPO plan.

Tinuku Dara Khosrowshahi All Uber board agreed IPO in 2019

"Travis and the entire council agree that we should go public. The numbers support, the system supports, and the fact that if you set up the company in the right way and honestly talk to investors, you will find the right shareholder to support," Khosrowshahi said.

Khosrowshahi became CEO of Uber in August after the company was hit by a series of scandals and pledged to improve organizational culture. Khosrowshahi said SoftBank's investment is still running but not related to the IPO plan.

SoftBank has raised US$100 billion for the technology startup and is widely expected to be a major investor in Uber even though the discussions have not yet come to an agreement. Khosrowshahi said SoftBank has not made any terms about the IPO.

"If you talk to SoftBank, they have no special interest in going public, they are the main long-term investors," Khosrowshahi said.

Khosrowshahi also said the company has lost a lot of money, but is still on the road to profitability in the long run. Uber is still subsidizing in most areas to build a market where during certain periods it will turn profits.


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