The future of $69 billion Uber is in flux with even CEO Travis Kalanick's final fate unknown
REUTERS/Danish Siddiqui
It's been one crisis after the other for Uber, calling into question the future of the $69 billion startup like never before.
And now it's all coming to a head.
On Tuesday, Uber is expected to release to employees the results of an intensive months-long study into its corporate culture. The report is expected to include recommendations for how the company should address its problems.
We don't know yet exactly what will be in the report. One of the biggest questions to be answered is what will happen to CEO Travis Kalanick; he's reportedly considering a leave of absence.
Even ahead of the report's release, Uber has already made some big changes. Emil Michael, Kalanick's right-hand man and chief fundraiser, resigned Monday. And last week Uber fired more than 20 people after a separate investigation looked into 215 complaints of sexual harassment, discrimination, and other bad behavior at the company.
Uber's board has committed, unanimously, to following the recommendations of the report, whatever those turn out to be. Depending on those recommendations, the most valuable tech startup on Tuesday could have a totally new executive team or it could look like it's protecting the status quo. Either way, the company's response to the report could go a long way toward determining its future.
Here's how Uber got to this precarious point and what's at stake now:
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Sustainable Event Planning
- Ambani, Adani collaborate: RIL picks 26% stake in Adani Power project
- As back-to-office avatars turn casual, comfy sneaker sales pick up pace
- Fresh photographs of Milky Way’s black hole Sgr A* reveal strong, twisted magnetic field similar to M87*
- 8 Lesser-known places to explore in Himachal Pradesh