Deals
Uber Makes IPO Case That It’s About the Platform, Not the Losses
- CEO Khosrowshahi pitches diversified interconnected services
- Food delivery growth touted as ride-hailing growth slows
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Uber Technologies Inc., the current era’s archetypal startup, moved toward becoming a public company Thursday, revealing that it racked up a $3 billion operating loss last year and hoping potential investors will look beyond that.
Less than two years after being tapped to take Uber to its initial public offering destination, Chief Executive Officer Dara Khosrowshahi’s stamp on the company has been branding it as a “platform” -- a word that appears more than 700 times in its IPO prospectus.