Uber, which has become the quintessential ride-hailing app, has been in the news throughout the week. So, let’s go over all of the latest Uber news as it prepares to go public.
Uber Still On Track For 2019 IPO
In an interview with Reuters Wednesday, Uber CEO Dara Khorowshahi said the company is “on track” to launch an initial public offering next year, and that “the growth rates for a company” of Uber’s size are “unrivaled.”
He also said the company will most likely not sell its self-driving car unit. The Advanced Technologies Group—the group that handles self-driving technologies—will be part of Uber when it goes public because it is “a big asset” that the firm is going to “monetize.” Regarding the fatal incident in Arizona earlier this year, he said the investigation won’t affect the timing of the IPO and, in fact, hopes to resume testing its self-driving cars by the end of 2018.
Additionally, in response to Bloomberg’s report that Lyft is targeting its IPO for next April or May, Khorowshahi said he is not concerned even if the rival company beats Uber to the public market.
Uber’s New Safety Measures
After a series of reports of assaults and other incidences in Uber rides, the company introduced new measures for safety purposes. The new features include an emergency button for drivers, voice-activated commands, anonymous pickup addresses and a check-up service if the ride is uncharacteristically long.
In June, Denver police said an Uber driver shot a passenger. Additionally, female riders filed suit against the company, accusing it of failure to examine drivers, which led to thousands of female passengers being sexual harassed, and even raped. To curb such catastrophes, Khorowshahi introduced all those aforementioned measures to Uber’s own platform. The company said customers can expect to see the new features in their app over the next few months, with more features to come later.
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