Posted on June 1, 2018 by staff

Uber ‘on track for IPO’ says CEO


CEO Dara Khosrowshahi said that the company is on target to make an Initial Public Offering next year.

Speaking to CNBC, the CEO said “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.”

Khosrowshahi also confirmed that Uber was in talks with investor Warren Buffett and his firm Berkshire Hathaway.

The company is expanding its offering after acquiring bike-sharing company Jump.

The company also plans to introduce flying vehicles, having recently opened a new £17m research and develop centre in Paris for flying vehicles.

The Advanced Technologies Center Paris (ATCP), as it will be known, will begin to work with building artificial intelligence and airspace management systems to support its ‘UberAIR’ arm.

The company is aiming to demonstrate flights in Dallas, Los Angeles, and a third, international city by 2020.

When asked about how the plans for modern transport compared to Elon Musk’s tunnelling project ‘The Boring Company’, Khosrowshahi said “Musk wants to go underground, we are going to, hopefully, make overground work. We’ll see which one works.”