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Uber's CEO just unlocked a big prize
  + stars: | 2024-02-29 | by ( Geoff Weiss | ) www.businessinsider.com   time to read: +1 min
Uber CEO Dara Khosrowshahi was offered a massive trove of stock after surpassing performance goals. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter steering Uber past a $120 billion valuation, CEO Dara Khosrowshahi just unlocked the opportunity to purchase a massive trove of stock in the ride-hailing company. The filing says Khosrowshahi would be offered to buy the shares if Uber maintained a $120 million valuation over a 90-day trading period.
Persons: Dara Khosrowshahi, He's, , Uber Organizations: Service, SEC, Business
Uber CEO Dara Khosrowshahi says that prioritizing drivers helped the company weather the pandemic. Uber drivers are worried about declining earnings, which led to a Valentine's Day strike last week. AdvertisementFor Uber CEO Dara Khosrowshahi, it's pretty clear who got the ride-hailing service through the pandemic: his drivers. Khosrowshahi, at a talk in Bengaluru, India, on Thursday, said that prioritizing drivers helped the company weather a difficult period where rides and revenue dropped precipitously. AdvertisementBut Uber drivers aren't universally content, Khosrowshahi's comments notwithstanding.
Persons: Dara Khosrowshahi, Uber, , Khosrowshahi, It's Organizations: Service Locations: Bengaluru, India
Mark Zuckerberg's five-word motto "move fast and break things" spawned Meta's multibillion-dollar success and inspired an entire generation of Silicon Valley entrepreneurs. In a TED Talk earlier this year, Morriss decried the idea behind Zuckerberg's phrase, suggesting instead that CEOs and leaders everywhere should "move fast and fix things." She offered a five-step guideline you can use to fix problems in your workplace, with each step assigned to a day of the week to keep you on schedule. Your goal should be to create a "good enough" plan to fix your problem, Morriss said. So, if we have not first earned trust and we go fast, we will break things guaranteed.
Persons: Mark Zuckerberg's, It's, Anne Morriss, Morriss, Zuckerberg, it's, Frances Frei, Frei, Uber, Travis Kalanick, Dara Khosrowshahi Organizations: Harvard Business School, TED, Harvard Business, Khosrowshahi's Locations: Silicon Valley
Having a career plan is great, but you don't want to overdo it. Uber CEO Dara Khosrowshahi says the most common mistake he sees young people make is overplanning. "I always tell people that the most common mistake I see in young people is that they overplan their career," Khosrowshahi said on a recent podcast of Acquired. An analyst is not supposed to talk to a CEO," Khosrowshahi said. IAC ended up buying Expedia in 2001, and four years later, Khosrowshahi became CEO of the travel booking company.
Persons: Dara Khosrowshahi, , Khosrowshahi, Khosrowshahi's, Barry Diller, Diller, Barry, Herbert Allen, Allen, Uber Organizations: Service, Allen & Company, Paramount, USA Networks, IAC, Allen, Uber's Locations: Expedia
Uber CEO Dara Khosrowshahi revealed the best way for passengers to increase their ratings. Uber CEO Dara Khosrowshahi shared four pieces of advice for passengers looking to boost their ratings in an interview with CNBC Tuesday morning. He said a only a minority of Uber riders tip. Khosrowshahi's insight is based on his experience going undercover as an Uber driver last fall in order to better understand the issues facing gig workers. He told CNBC he's a 5-star driver and the tips are "pretty good."
Dara Khosrowshahi told The Wall Street Journal he encountered problems that discouraged drivers. He was surprised to find out just how many issues there were – and how unpleasant some riders could be. Khosrowshahi told the Journal he had a five-star rating for the 100-odd rides and deliveries he'd completed around San Francisco. The Uber CEO said he would try to keep customers happy by offering phone charging cables and serving up Spotify playlists featuring artists including Taylor Swift and The National. Khosrowshahi told the Journal that some drivers had returned in response to economic uncertainty, which was yet to have an impact on rider demand.
Dara Khosrowshahi: $507,579 in 2021Since Uber implemented its security program for CEO Dara Khosrowshahi, it "has identified actual and credible threats to Mr. Khosrowshahi's safety," its proxy statement said. His security and personal safety costs added up to $507,579 — $402,366 of which was for personal transportation services and $105,213 of which was for "protective intelligence services." Uber's filing says its security program includes certified protection officers, as well as secure meeting spaces and lodging for its executives. Khosrowshahi." The company's filing said that since it implemented its security program it "has identified actual and credible threats to Mr. Khosrowshahi's safety as a result of the high-profile nature of being our CEO."
When Uber first approached now-CEO Dara Khosrowshahi about leading the company, he ignored the call. It was 2017, and the rideshare app was going through a "historically difficult time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a recent interview. He was entering his twelfth year as Expedia's CEO, and still "having a great time," he told Roslansky. He was prepared to call Uber's board of directors and take himself out of the running for CEO — until one conversation with a friend changed his mind. The following morning, Khosrowshahi called the head hunter back — and in August 2017, he was announced as Uber's new CEO, after a unanimous vote from the board.
Instead, Jain has overseen the introduction of add-on features to Uber's app, such as rental car bookings and party buses leasing. "Spending a half billion a year on flying cars doesn't make sense for the type of business we are," said one current Uber executive. "I don't think innovative people want to work for a non-innovative product leader," said one former Uber executive. "Under Sundeep's leadership the product team has shipped more products, to more users, than ever before," a spokesperson told Insider. That's two billion dollars," a current Uber product executive said.
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