CEO Dara Khosrowshahi's efforts to move jobs to India was resisted by Uber’s chief technology officer Thuan Pham, who has since left the company.
Khosrowshahi said stringent cost cutting, to the tune of more than $1 billion (808 million pounds) in 2020, would ensure the company stayed on track. Uber on Wednesday said it would lay off 3,700 full-time employees, or roughly 17% of its head count.
Ola wants to go public in two years from the time Uber went public. While that may be in keeping with its desire to follow in its footsteps, it may be premature for Ola to tap retail investors.
Dara Khosrowshahi was backtracking from comments he made in which he compared Jamal Khashoggi's murder by Saudi agents inside the kingdom's Istanbul consulate to a fatality caused by one of his company's self-driving cars.
'If I look at Uber's growth over the next 10 years it's going to be defined by markets like India, Africa, the Middle East more so than the developed markets such as the U.S. and Europe,' Khosrowshahi said.
The lackluster market response comes against the backdrop of a spike in trade tensions between the United States and China and increased investor skepticism about the company's ability to turn profitable soon enough.
Sarfraz Maredia is driving Uber at a crucial moment when the cab aggregator is facing challenges in one of its largest markets: New York City
While Uber’s valuation is primarily linked to how well it sold its vision and growth prospects to its investors so far, its gross billing which comes from the total number of rides it completes also matters.
British billionaire Richard Branson on Friday suspended business links with Saudi Arabia, and Uber CEO Dara Khosrowshahi said he might not attend a major investment conference in the country this month amid reports that Jamal Khashoggi may have been killed at the Saudi consulate in Turkey's capital.
The resignation comes after Reuters contacted Uber on Monday about the previously unreported investigation into accusations from anonymous whistleblowers that Hornsey had systematically dismissed internal complaints of racial discrimination.
Khosrowshahi was brought in by Uber in August after Travis Kalanick resigned as the CEO of the firm.
The U.S. ride-hailing app maker has said it expects flying vehicles to eventually become an affordable method of mass transportation.
Khosrowshahi will visit Japan and India in the week of February 19 to meet with high-ranking government officials, regulators, business partners and employees, an Uber spokesman said.
The price is a roughly 30 percent discount to Uber's most recent valuation of $68 billion. The deal will trigger a number of changes in the way the board oversees the company, which is dealing with federal criminal probes, a high-stakes lawsuit and an overhaul of its workplace culture.
Barney Harford, who was CEO of online travel service Orbitz Worldwide Inc, will join Uber on Jan. 2 and will be tasked with overseeing global ride-hailing operations, marketing, customer support and the food delivery business. A familiar face at Uber, he been an adviser since October, Khosrowshahi said in an email to employees.
The multibillion-dollar case, in which Waymo has accused Uber of stealing confidential information about its self-driving car designs, has hobbled Uber's autonomous vehicle ambitions and is the highest-stakes legal challenge on a lengthy list of litigation that new Chief Executive Dara Khosrowshahi inherited when joining the company in August.
While building products, Uber's CXOs are now talking to driver partners in markets outside the US to find out what works and what doesn’t, a possible result of a change in the company culture.
The new initiatives are aimed at winning confidence in India from users who reside in small towns and have limited internet or smartphone access.
Transport for London (TfL), which runs and regulates the capital's transport system, shocked Uber last month by deeming it unfit to run a taxi service and refusing to renew its licence.
Regulator Transport for London (TfL) deemed Uber unfit to run a taxi service on September 22 and decided not to renew its licence to operate when it expires on Saturday, citing the firm's approach to reporting serious criminal offences and background checks on drivers.
The premier service will have the best-rated Uber drivers, who have completed at least 1,000 lifetime trips and have repeatedly been acknowledged by riders, the company said.
The board had already selected Khosrowshahi as Uber's next CEO in a vote on Sunday, two sources told Reuters. But the firm and its board had not spoken publicly on the decision until Tuesday evening Pacific Time, as contract negotiations were ongoing.
Khosrowshahi emerged as the leader among three finalists for the job during company board meetings over the weekend, the Times reported yesterday, citing two people familiar with the decision.