The following is an excerpt from Tiernan Ray | March 28, 2016 | Barrons.com |
Travis Kalanick, CEO of ride-sharing service Uber was on CNBC earlier today saying his company has enough capital to avoid an initial public offering this year.
Asked the channel’s Geoff Cutmore, “So all those salivating investment bankers who are hoping for an IPO this year they should forget about it?”
Most definitely, and the reason why is, like look I’m an entrepreneur, I want to move as fast as I possibly can, I want to build something that endures, and we’ve raised, I don’t know the last 18 months something like, somewhere in the neck of the woods of 10 billion dollars, we’re not in need of public capital if that makes sense, but there also of course is that sort of, I call it the moral obligation with investors who put money in....
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