Uber Founder Travis Kalanick Resigns as C.E.O.
This may kill Uber. Kalanick is a jerk, but he created that insane valuation. Uber has less than a year of runway left at their current burn rate. Unless they can find a bigger sucker than the sovereign wealth fund of Saudi Arabia,[1] they're going broke in 2018.  (That "undisclosed amount" in 2017 isn't a significant investment on Uber's scale.)<p>IPO? No way. They'd have to publish audited numbers. What's leaked out is bad enough. The real numbers have to be worse.  Notice that leveraged loan in 2016.[2] All the details of that have to be disclosed in the prospectus for an IPO.<p>[1] <a href="https://www.crunchbase.com/organization/uber/funding-rounds" rel="nofollow">https://www.crunchbase.com/organization/uber/funding-rounds</a>
[2] <a href="https://techcrunch.com/2016/07/07/new-reports-confirm-1-15b-leveraged-loan-raised-by-uber-at-5/" rel="nofollow">https://techcrunch.com/2016/07/07/new-reports-confirm-1-15b-...</a>