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Uber Affirms Timing for IPO
Uber Technologies Inc. CEO Dara Khosrowshahi reiterates plans for an initial public offering next year and insists the company has no plan to sell its tech unit.
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Uber Technologies Inc. CEO Dara Khosrowshahi reiterates plans for an initial public offering next year and insists the company has no plan to sell its tech unit.
Khosrowshahi tells Reuters that Uber’s Advanced Technologies Group, which has been working on self-driving systems, will “absolutely” be part of the IPO.
He also discounts analysts’ concerns that rival Lyft Inc.’s plans for an IPO next year could create a shortage of investors. Citing the huge market that both companies are pursuing, Khosrowshahi predicts ample funding for multiple players in the ride-hailing business.
Uber expects to return to testing its own self-driving system on public roads later this year. The company suspended such operations in March after one of its autonomous vehicles struck and killed a pedestrian in Tempe, Ariz.
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