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Uber Aims to Turn a Profit by 2020
CEO Dara Khosrowshahi vows that Uber Technologies Inc. will finally post a profit within the next three years.
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CEO Dara Khosrowshahi vows that Uber Technologies Inc. will finally post a profit within the next three years.
Khosrowshahi, who took over as CEO last August, has said he wants to float an initial public offering for the company in the next year or so. He tells Bloomberg News that doing so will mean first finding ways to make Uber more efficient.
He also says his goal for this year is to stabilize the company after normalizing a dysfunctional corporate culture created by founder Travis Kalanick. Kalanick’s abrupt departure last summer left behind a tangle of sexual harassment claims, government investigations into the company’s business practices and a senior staff decimated by multiple resignations.
Khosrowshahi says Uber will continue its aggressive expansion plans. The company also is spending heavily on autonomous-driving technologies, including systems for robotic aircraft.
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