With new CEO at helm, Uber aims for IPO within 18-36 months

With a new CEO- Dara Khosrowshahi– at helm, Uber looks all set to leave behind all the controversies of the first half of 2017 and start a fresh. In his first meeting with employees on Wednesday, Khosrowshahi set out his vision to turn around the company’s fortunes including ‘paying the bills,’ focus on the core businesses and some big decisions to build for the future, according to The Information’s Amir Efrati.

Khosrowshahi also promised to work on areas like Uber’s workplace culture that has been plagued by allegations of sexism and harassment. “This company has to change,” Mr Khosrowshahi told Uber staff. “What got us here is not what’s going to get us to the next level.”

The new CEO also shed some light on Uber’s IPO prospects saying that he hoped for an initial public offering within 18-36 months and would work to stem Uber’s market share losses in the US. While Khosrowshahi was all praise for former CEO Travis Kalanick, he however, did not address the question of what role Kalanick would play in the company.

Khosrowshahi’s hiring is expected to halt the ever-increasing troubles for Uber that’s battling everything from sexual harassment allegations and toxic work place culture to mass executive exits to a never-ending list of lawsuits. And the CEO is all prepared- “We’re in a battle here . . . I am going to fight for you with every bone in my body.”

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