The CEO of Uber Technologies Inc said on Tuesday the company was looking sell stakes in what it considers non-strategic investments in other companies, including its shares in Chinese ride hailing company Didi Global Inc .
Speaking at a virtual fireside chat with a UBS analyst, Chief Executive Dara Khosrowshahi said many of the companies in which Uber has a stake have recently gone public and are still subject to a lockup period.
Khosrowshahi said the company was in no rush to sell the shares. "Those kinds of stakes we look to monetize smartly over time," he said. Some investors have grown concerned that Uber holding on to these investments sends a signal to the market that stakes in other companies are more attractive than putting freed-up capital into Uber's own operations.on an adjusted earnings basis, but its Didi stake drove a $2.4 billion net loss in the third quarter.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uber shares jump after CEO says company just had its 'best week ever'Shares of Lyft were also up following the Uber CEO's comments.
Read more »
Uber, Google, Ford Delay Office Return as Omicron’s Spread Threatens Business DistrictsLandlords and small businesses that rely on office workers agonize as companies let their employees continue to work from home.
Read more »
Uber shares jump after CEO says company just had its 'best week ever'Shares of Lyft were also up following the Uber CEO's comments.
Read more »
'Bored Ape' NFT worth $284,495 accidentally sells for just $2,844A distracted trader accidentally sold a non-fungible token (NFT) for a hundredth of its market price.
Read more »
'Offensive,' 'Well deserved': Reactions pour in to Elon Musk as Time's Person of the YearTIME magazine named entrepreneur and billionaire Elon Musk as their 'Person of the Year,' sparking a slew of mixed reactions online from Elizabeth Warren and more. Read more:
Read more »