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Home > News > Uber CEO Dara Khosrowshahi says the company is on track for a 2019 IPO - timberland work boots
Uber CEO Dara Khosrowshahi says the company is on track for a 2019 IPO - timberland work boots


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Uber is on track to go public in 2019, CEO Dara Khosrowshahi told CNBC.

"We're in a good position in terms of the timberland boots store company's profile, in terms of profitability and margins continue to get better," Khosrowshahi told CNBC's Carl Quintanilla at the mens timberland boots Code Conference in Rancho Palos Verdes, California.

Khosrowshahi added that Uber has a "very strong balance sheet."

"I do think that we're on track in 2019 for an IPO," he said. "Lots of things can happen in the timberland work boots world but we have a reasonable buffer as well, so I think we're in a pretty good spot."



Uber is targeting to go public in late 2019 but the timberland boots sale company has not started interviewing banks yet, according to a person familiar with the matter.

Last week, Uber said it had strong revenue growth and reduced losses in the cheap timberland boots first quarter of this year. The company revealed that net revenue was up 67 percent on-year and losses narrowed 49 percent on-year. Those numbers exclude a $3 billion first quarter gain from the kids timberland boots sale of Uber's Southeast Asian business to rival company Grab and a business merger in Russia with Yandex.Taxi.

The CEO said that he is looking to build out his management team, rebuild the brand and improve the product before the timberland on sale company goes public. That includes hiring a chief financial officer, he said.

Khosrowshahi also spoke about legendary investor Warren Buffett, who earlier told CNBC that he was an admirer of the timberland boots outlet Uber chief.

Buffett's comments were in response to a Bloomberg report that said his firm, Berkshire Hathaway, offered Uber a $3 billion investment earlier this year. Buffett told CNBC that some of the reported details were "not correct" but confirmed that his company held talks with the timberland shoes outlet ride-hailing tech firm.



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"Like Warren said, we did have discussions," Khosrowshahi said. "One of my business goals in life has been to get Warren Buffett to invest in something that I'm involved in and, so far, I failed."

Khosrowshahi added that it's possible that talks with Berkshire might resume one day. He explained that Uber's "enormous growth trajectory" comes with "considerable risk."



"I don't think we necessarily fit in with the timberland 6 inch typical Warren Buffett investment. Maybe we can be a different kind of an investment, a portfolio diversification play for him," he said.

While he hopes to convince Buffett to invest in Uber one day, Khosrowshahi said strategic investments, though welcomed, were not a main priority at the moment.

"It's not first priority for me right now," he said. "First priority is to continue building a management team, continue to invest in the brand and get us in a position where we can build a big business and, along the way, go public."




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