Apr 25, 2019

Scoop: Uber's co-founders may not help ring the IPO bell

Illustration: Lazaro Gamio/Axios

When Uber rings in on the New York Stock Exchange next month, expect to see a balcony peppered with longtime executives, drivers and couriers. But not necessarily its three co-founders: former CEO Travis Kalanick, Ryan Graves and Garrett Camp.

The bottom line: Axios has learned from multiple sources that there was a board-level discussion about having the three join, as opposed to just being invited to the exchange floor, but current CEO Dara Khosrowshahi was noncommittal.

The state of play: Kalanick raised the issue during a recent board meeting discussion of listing day, according to multiple sources, basically asking if the trio would have formal roles in the ceremony. Graves added that he believed they should.

  • Benchmark partner Matt Cohler also spoke in favor of their involvement, while adding it also should be clear that Khosrowshahi is now the one in charge. Cohler's support was notable, given that Benchmark once sued Kalanick for fraud.
  • The basic argument: Uber wouldn't be going public without Khosrowshahi, but also not without the co-founders — and Kalanick in particular.

What's next: Khosrowshahi said he'd have to think about it, following what was a short discussion. For now, it seems that the founders will simply be invited to be on the NYSE floor, along with their fellow board members.

  • Uber declined comment through a spokesperson, while Kalanick could not be reached for comment.

Go deeper: Inside Travis Kalanick's downfall at Uber

Go deeper

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 5,410,228 — Total deaths: 345,105 — Total recoveries — 2,169,005Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 1,643,499 — Total deaths: 97,722 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. World: White House announces travel restrictions on Brazil, coronavirus hotspot in Southern Hemisphere Over 100 coronavirus cases in Germany tied to single day of church services — Boris Johnson backs top aide amid reports that he broke U.K. lockdown while exhibiting symptoms.
  4. Public health: Officials are urging Americans to wear masks headed into Memorial Day weekend Report finds "little evidence" coronavirus under control in most statesHurricanes, wildfires, the flu could strain COVID-19 response
  5. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Public employees brace for layoffs.
  6. Federal government: Trump attacks a Columbia University study that suggests earlier lockdown could have saved 36,000 American lives.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 2 hours ago - Politics & Policy

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

The CDC is warning of potentially "aggressive rodent behavior" amid a rise in reports of rat activity in several areas, as the animals search further for food while Americans stay home more during the coronavirus pandemic.

By the numbers: More than 97,700 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 366,700 Americans have recovered and more than 14.1 million tests have been conducted.

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Japan's economy minister outlined plans on Monday to end the nationwide state of emergency as the number of new novel coronavirus cases continues to decline to fewer than 50 a day, per Bloomberg. Japan has reported 16,550 cases and 820 deaths.

By the numbers: Over 5.4 million people have tested positive for the virus as of Monday, and more than 2.1 million have recovered. The U.S. has reported the most cases in the world (over 1.6 million from 13.7 million tests). The U.K. is reporting over 36,800 deaths from the coronavirus — the most fatalities outside the U.S.