Jun 1, 2017

Another Uber executive quits but losses improve

Uber said losses narrowed in the first three months of 2017 to $708m from $991m in the previous quarter. Uber chief executive and co-founder Travis Kalanick said: "Gautam is a world-class financial talent. Over the last four years, he has been indispensible in helping build Uber from an idea into the business it is today." Uber is now looking for a chief financial officer who it is thought will help steer the company towards a flotation on the stock market in the next two years. Mohrer is credited with building Uber in New York city from its early beginnings. Mr Levandowski, who was considered critical in the development of Uber's self-drive projects, was fired for declining to testify in the lawsuit that Alphabet has brought against Uber.

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