Uber CEO believes profitability not critical to launching IPO

Bloomberg News/Landov
Dara Khosrowshahi took over as chief executive officer of Uber in 2017 following the ouster of founder Travis Kalanick.

Uber Technologies Inc.’s Chief Executive Dara Khosrowshahi on Monday confirmed that the ridesharing company’s initial public offering is likely to take place in 2019 as originally planned even if its profitability does not improve by then.

Khosrowshahi said he doesn’t believe it’s necessary to make money before the IPO but the company will need to demonstrate a clear road to profitability. What is important, however, is cash generation as he doesn’t want Uber to be dependent on public or private markets for funds to expand, he said, speaking at the Fortune Brainstorm conference.

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