As Uber Technologies Inc. shares slid for a second consecutive day after the ride-hailing company’s massive initial public offering, Chief Executive Dara...
As Uber Technologies Inc. shares slid for a second consecutive day after the ride-hailing company’s massive initial public offering, Chief Executive Dara Khosrowshahi reportedly gave his employees a rallying cry Monday morning: “Remember Facebook and Amazon!”
“Remember that the Facebook and Amazon post-IPO trading was incredibly difficult for those companies. And look at how they have delivered since. Our road will be the same.” Facebook FB, -2.98% , the last U.S. tech company to bring in more money in an IPO than Uber, struggled mightily in its first year on Wall Street amid doubts that it would survive the massive shift to mobile that was hitting warp speed when it went public in 2012.
In Khosrowshahi’s view, the negative sentiment on Wall Street bled through to his company’s stock temporarily.
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