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Uber picks Expedia boss as CEO

AP Photo/Paul Sakuma

Uber has picked Expedia CEO Dara Khosrowshahi as its next chief executive, as first reported by Recode and confirmed by Axios. A formal announcement could come as early as tomorrow.

Why it matters: Uber is the most highly-valued, pre-IPO tech startup in history — with dozens of venture capital firms (and their investors) having already baked in its success. It also has become one of Silicon Valley's most contentious corporate soap operas, while continuing to generate billions in revenue by having helped revolutionize global transportation.