Uber wants to be Amazon of transportation, IPO possible in 2019


Uber logo

Uber logo

Despite recent scandals and setbacks, Uber has big plans in the near future. The ride-sharing company has high hopes to one day be "the Amazon for transportation," CEO Dara Khosrowshahi said.

Khosrowshahi made the comments and announced plans for a potential initial public offering in 2019 in a CNBC interview published on Wednesday. Right now, the IPO is simply a goal and Uber has not consulted with banks to facilitate the option.

The CEO spoke of Uber's other business avenues in the transportation sector, such as Uber Eats, as a way to echo Amazon's success. The food delivery platform has grown 200 percent and Uber is projecting a $6 billion run rate. In the future, Khosrowshahi envisions Uber as a platform to run public transportation, bikes, and more.

"Whether it’s taking a car, whether it’s taking a pooled car, whether it’s taking a bike, whether you should walk or even now we want to build out the capability for you to take a bus or subway," he said.

Aside from the ambitious plans, the CEO also said Uber has "turned over a new leaf" since his arrival. He commented on prior leadership that was focused on control rather than success. Yet, the company still faces major hurdles. In March, a self-driving Uber vehicle struck and killed a pedestrian in Tempe, Arizona; Uber is still fighting to fend off a potential class-action lawsuit over sexual harassment claims; and Khosrowshahi allegedly knew of a massive data breach before the company went public with that information.

On the self-driving car front, things aren't peachy. Uber and Pittsburgh mayor William Peduto clashed publicly via Twitter after the company announced plans to restart its self-driving car program in the city. The mayor tweeted that Uber did not inform the city of its timeline and has not responded to new requirements to put its self-driving cars back on the road. 

The National Transportation Safety Bureau also determined in a preliminary report that the self-driving Uber vehicle that struck and killed a woman in Arizona detected the pedestrian, but did not attempt to stop.

Posted in:
 
Follow Us

Take Us With You!

 


 
© 2019 MH Sub I, LLC. All Rights Reserved. Stock photography by izmostock. Read our Cookie Policy.