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… But his senior executives are missing
Uber's transformation from a privately-owned company led by its founder into a publicly traded company began in 2017 after Kalanick's resignation from CEO. This means that all of his executives are relatively new and have very little of the society. (Mr. Khosrowshahi's participation could be $ 9.8 million.)
So, Uber offered bonuses related to I.P.O. encourage senior management. The investment prospectus of the company explained that Mr. Khosrowshahi and at least four other members of management were at risk of receiving share awards that would have been acquired if I.P.O. Uber valued at $ 120 billion, including restricted stock and stock options, and maintained this valuation for 90 days.
This now seems unlikely. But do not feel too sorry for them:
• Mr. Khosrowshahi received approximately $ 45.3 million in compensation last year.
• Barney Harford, Uber's Chief Operating Officer, had a $ 47.3 million salary package.
• Nelson Chai, who joined Uber in September as CFO, was awarded $ 28 million.
What everyone says about I.P.O.
"Uber is a growing company whose largest company has stopped growingat least for the moment, "writes Shira Ovide of Bloomberg Opinion, noting that the total value of trips offered in the first quarter of 2019 had actually decreased by 1% compared to the previous quarter. "Now that Uber's core business has reached a plateau, investors in I.P.O. Uber will essentially bet that the company can find more markets to conquer. "
"It's hard to discern the path to profitability and lasting value for shareholders," Richard Beales of Breakingviews writes. "Uber Eats, which is growing rapidly, and the new trucking company Uber Freight, are still at the origin. But it is not clear that the heavy investment will be profitable. "
"In some markets, Uber starts in a hole, by paying more for drivers to complete a journey that the customer does not pay for the trip, "notes Lauren Silva Laughlin of the WSJ. These payments are designed to entice workers to join its platform and should disappear as Uber becomes dominant. But "these fees are not growing," says Laughlin.
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