Uber CEO Dara Khosrowshahi sent an email to employees on Monday, addressing the ride-hailing giant’s brutal stock-market debut.
He noted that while the market has so far punished Uber’s newly minted shares, employees should be mindful that its early post-initial-public-offering trading won’t necessarily give way to long-term issues.
Khosrowshahi pointed to Facebook — which in 2012 saw the biggest first-month decline of any large US-listed IPO in history — and Amazon.
Watch Uber trade live.
Uber CEO Dara Khosrowshahi addressed his company’s abysmal initial public offering in an email to employees on Monday.
The chief executive sought to reassure employees that while Uber’s IPO did not yield the first-day results the company had hoped for, they should keep in mind that several high-profile technology companies sputtered in their debuts only to surge in later years.
He pointed to Facebook and Amazon.
“Remember that the Facebook and Amazon post-IPO trading was incredibly difficult for those companies,” Khosrowshahi wrote in the email to employees that was posted on Twitter by New York Times reporter Mike Isaac. “And look at how they have delivered since.”
When asked about the email, an Uber representative pointed Markets Insider to Isaac’s tweet.
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Source:: Businessinsider – Finance