Uber CEO Dara Khosrowshahi says SoftBank deal “hasn't happened yet but it will” and reaffirms 2019 date for IPO
Dara Khosrowshahi today gave his first public interview since being named CEO of Uber two months ago, at the DealBook Conference in New York City.
Context & Ripple Effects
Two months into the job after being named CEO by the board, Khosrowshahi is using his first public interview to lock in two commitments: the SoftBank investment Arianna Huffington predicted weeks ago is still coming, and the IPO clock he set at his first all-staff appearance — 18-36 months — now firms up as a 2019 target.
The message matters because both items are cleanup from the Kalanick era: SoftBank's tender gives early investors and employees an exit that resets Uber's cap table, while a dated IPO commitment signals the governance chaos that forced the CEO change is over.
First-order effects
- Early Uber investors and employees get a near-term liquidity path once the SoftBank deal closes, at whatever discount the tender sets rather than waiting for the IPO.
- Khosrowshahi converts his vague 18-36 month staff-room timeline into a public 2019 date, putting his own credibility on the line with investors and employees alike.
Second-order effects
- A discounted SoftBank tender effectively reprices Uber ahead of the IPO, forcing late-stage holders to mark down their positions before any public listing.
- The board's parallel search for a chairman — part of Khosrowshahi's original plan — becomes more urgent as the IPO approaches, since public-market investors will want a clear governance structure beyond the new CEO.
Third-order effects
- If the pattern holds, the sequence — crisis CEO change, strategic investor recapitalization, dated IPO — becomes the template for how venture-backed companies clean up founder-era governance before going public; Uber did reach IPO-prep stage under Khosrowshahi, though whether Kalanick stays fully sidelined remains contested even at listing time.
The trend: Uber's post-Kalanick reset is converging on public markets, with SoftBank's capital and a firm 2019 IPO date marking the transition from founder-led turmoil to institutional ownership.