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August 29, 2019 08:10 pm

Uber CEO Sees Path To Profitability Despite Bumps in the Road

CEO of Uber, which posted a record $5.2 billion quarterly loss earlier this month, believes the company is on track to reach profitability. In an interview with Bloomberg Thursday [video], Dara Khosrowshahi said the company has "resolved all of the governance conflicts and legal issues." He said: We have a great investor base, we have taken the company public, and the company revenue gross bookings have grown 75% since I joined. We now have a path to profitability, I believe. So while we've had bumps on the road -- and every adventure has bumps on the road -- I like where we are and I especially like the position that we're in now for the next few years. We want Uber to be available to everybody. And what we're doing now is going into the next step of introducing other transportation choices to Uber, we've always gone with the pool but for example, we're testing buses to bring the price of Uber down to the next level. We're introducing bikes and scooters for personal electric mobility so that essentially any way that you want to get around your city, we're going to be there for you... And if you want food, if you want even local commerce, which I think we will power, Uber Eats and some of the other services will be there for you as well. [...] These are extraordinary opportunities that we're funding, but I do believe that we're going to prove to our investors that we can take on a serial basis, big parts of our business, turn them profitable and use those parts of our business to fund investments in other areas.

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/mgLPYQ2LPTE/uber-ceo-sees-path-to-profitability-despite-bumps-in-the-road

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