The Latest: Former CEO is among Uber’s top shareholders
SAN FRANCISCO (AP) — The Latest on Uber revealing its finances ahead of its initial public offering (all times local):
Travis Kalanick, the former CEO who resigned in 2017 under pressure from the board, is one of Uber’s largest shareholders, owning nearly 9% of the ride-hailing company’s stock.
Alphabet, the parent company of Google, owns 5% of the company, even as it competes with Uber on self-driving technology. Alphabet also owns roughly 5% of Uber rival Lyft’s stock.
Cayman, a subsidiary of Softbank, is Uber’s largest shareholder with 16%. Yasir Al-Rumayyan, the managing director of Saudi Arabia’s public investment fund, is listed as holding 5.4%.
Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market.
Documents released Thursday offered the most detailed view of the world’s largest ride-hailing service since its inception a decade ago. The unveiling comes four months after Uber took its first step toward its initial public offering with a confidential filing.
The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses since its inception.
Uber’s revenue totaled $11.3 billion in 2018, a 42% increase from $7.9 billion in 2017.