Uber seek options including partial sale for Uber Elevate


Uber Technologies Inc is seeking options for its Uber Elevate business, including either “a strategic partnership or a partial sale”, reports axios.com citing multiple sources. The move reflects CEO Dara Khosrowshahi’s “obsession with achieving profitability”, the report added.


This alleged decision reflects Khosrowshahi’s need for profitability, evidenced by a partial sale of Uber’s money-losing freight and self-driving units. The company’s goal is to develop a network of self-driving taxis, with its website suggesting a launch year of 2023.

It also had a helicopter service running in New York City, but suspended those operations during the pandemic. The unit has around 80 employees.


The report states Uber has declined to comment.


For more information

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(News Source: https://www.axios.com)


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