As a private company, Uber is not obligated to report quarterly results. Dara Khosrowshahi, the chief executive of Uber, said in a statement that the performance of its ride-hailing service exceeded its internal — and undisclosed — projections. is coming, the company also said on Wednesday it was selling existing Uber shares to a trio of investors in a process called a tender offer. Uber said the investment funds Coatue, Altimeter and TPG will buy up to $600 million worth of stock in Uber, valuing the company at around $62 billion. The latest offering will again allow some of Uber’s earliest investors and employees to sell shares.

Source: New York Times May 23, 2018 20:37 UTC