Uber CEO Dara Khosrowshahi has said that the company may not hit their target of going public this year after all.
The ride-hailing giants have long said they aim to push an IPO through in 2019 but in an interview with the Wall Street Journal, Khosrowshahi has poured water on those ambitions by saying the company is in no rush to go public and may choose to bide its time and ride out rough market conditions.
He added that the firm currently had “a strong balance sheet” so it was in no desperate rush to go public.
Khosrowshahi said that it is still a desire for himself and the company’s shareholders but “if it doesn’t happen it doesn’t happen”.
Tech stocks such as Apple’s and Facebook’s have taken a hit as of recent which has left the market facing slightly more unsteady times which may play a factor in whether or not Uber will be in what they consider the perfect position to public.
Because of they relatively young age of Uber’s business, it is unlikely to be subject to the same market forces as the more “established players” Khosrowshahi said.
Khosrowshahi confirmed that the company’s earnings remain healthy despite market gloom, with revenue still up.