Tech

Uber should go public in next 18 to 36 months, says new CEO

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Key Points
  • Uber's new CEO, Dara Khosrowshahi, said he believes Uber should be public in the next 18 to 36 months.
  • His plan for Uber makes it a priority to "pay the bills."
  • He will start next Tuesday.
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Incoming Uber CEO believes company should go public

Uber's new CEO will start on Tuesday next week, he told staffers on Wednesday, leaving his post as the CEO of Expedia.

In an all-hands meeting with employees, Dara Khosrowshahi also said something that will be music to the ears of shareholders and retail investors looking to get in on the most valuable venture-backed company in the world: His opinion is that Uber should be public, something that shareholders could see in a timeline of 18 to 36 months.

He also said his plan for Uber makes it a priority to "pay the bills." The company, which has been without a chief financial officer or head of finance for some time, is losing more than $1 billion a year. Last quarter, the company previously said, it lost $645 million on revenue of $1.75 billion.

Khosrowshahi also gave employees some insight into how he will run the company, with statements such as: "I won't B.S. you, and I hope you won't B.S. me."

Tweet: 1/ Am going to be transparent & authentic with you, so I can deserve the same from you. I won't B.S. you, and I hope you won't B.S. me.

Tweet: 3/ Will know I've succeeded if everybody @Uber knows they can contribute to the success of Uber in their own way and as their own selves.

Tweet: Bringing in a chairman to be my partner at the Board level— driving agenda & rhythm of the board—is going to be super important.

Reporters with knowledge of the meeting said tears were shed by former CEO Travis Kalanick, but Khosrowshahi was being "very nice" to the co-founder, who is still on the board. Khosrowshahi reportedly said his successor at Expedia would be announced later in the day on Wednesday.

Tweet: BREAKING: Uber's all-hands meeting kicking off announcing new CEO. Travis Kalanick is there and crying.

Tweet: From @Uber meeting: @dara is going with the humble pie tone laced with lots of humor. Being generous to the board and especially @travisk

Uber board member Arianna Huffington tweeted this photo from the meeting:

Photo tweet.