No Qualms About Poor IPO, The Firm Targets 30% Revenue Growth: Uber CEO

No Qualms About Poor IPO, The Firm Targets 30% Revenue Growth Uber CEO

Recently, Dara Khosrowshahi—Uber CEO—stated that he has no regrets on taking the company public regardless company’s constant struggles and stock’s poor debut. The financiers are misunderstanding the company ever since the shares fell after a massive loss, he said. Khosrowshahi said to CNBC, “I believe we need to improve in terms of reporting our story to the markets. And I feel we are executing extremely but somehow it is not been getting through the noise.” On asking if the CEO has any qualms about the Uber’s IPO (initial public offering), he said, “It was a great day as much as bringing in, making the company public, being funded to that path to success as well.”

Uber shares tanked by almost 10% in recent time following the ride-hailing titan posted unsatisfactory earnings for the second quarter, as well as an immense $5.2 Billion loss in the 3-Month duration. Since early July, the stocks were trading less than its IPO price of $45. The company’s shocking loss in the second quarter is a “never-to-be-repeated” hit, Khosrowshahi said. He further added that Uber is aiming for 30% proceeds growth in the back-half of the year.

Recently, Uber was also in news as the ride-hailing company is considering Dallas for its new headquarters. It will be the biggest Uber division outside of San Francisco, which will generate about 3,000 jobs. One location in Deep Ellum is under consideration for the potential deal that can see Uber’s headquarters roll into Dallas. Brian Womack—Tech Writer for the Dallas Business Journal—said, “According to sources, Dallas has developed and is a developing place that Uber is focusing.” The largest aspect of this expansion would be generating 3,000 jobs that will pay a minimum of $100,000.

David Sandefur

David Sandefur has gained a lot of experience in business and market analysis. He is one of the top assets for Chemical Industry Reports news portal. He is assigned with the title of “Gem” owing to his efficient way of managing the allotted responsibilities. He is competent in expressing terminologies and concepts related to business, finance, market, and industries. He had worked as a business analyst in the production industry for almost 4 Years with a total experience of 7 Years. These qualities and experience have served him the role of leading the columnists’ team at Chemical Industry Reports news portal. He has accomplished his Master’s degree in Accounts.

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