The overall worth of Uber Technologies is declining, but could it someday end up like Yahoo? This article by Reuters says yes. After all of the regulatory debacles the ridesharing platform has endured during the past year, plus the entire fiasco surrounding CEO Travis Kalanick’s departure, Uber is reportedly on a slippery slope—all that before we even get an initial Uber stock IPO.
Uber Technologies—A Sinking Ship?
Even a simple bystander can’t help but notice the fact that Uber’s stock price fell in May, with major investors marking down the value of its shares. This in itself is salvageable, but what could ultimately lead to the company’s downfall is the dreaded “short sellers”.
After suffering a hard hit with sexism and harassment allegations, Uber is searching for a female lead to augment its credibility. However, female CEOs are not interested. Among the rumored choices were Facebook’s Sheryl Sandberg, YouTube’s Susan Wojcicki, and HP’s Meg Whitman—all of whom declined the offer.
Where does Uber go from here? No one knows for sure. Whether you’re a driver or a rider, all you can really do is stay updated and informed, and keep a close watch on what the company does in the succeeding months.
WATCH: What is the future of Uber and other ride hailing companies? Watch economist Alexandra Suich make an informed forecast of the CNBC report below:
Will Uber suffer the same downfall Yahoo did? Will they cave and give up market share to competitor Lyft? Share your thoughts below and let us know.