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Uber finally hires a CFO as it heads for an IPO

(Source: techcrunch.com)

Uber’s search for a chief financial officer — and the person who will steer the company toward an IPO — is over. The ride-hailing company said Tuesday its new CFO is Nelson J. Chai, the former CEO of insurance and warranty provider Warranty Group.

Chai has the kind of experience Uber will need to navigate a successful IPO. Last year, Uber CEO Dara Khosrowshahi said an IPO for Uber was part of his plans. He targeted 2019 for the IPO.

The road to an IPO will require some financial belt-tightening, a role Chai would handle as CFO.

Uber reported August 15 a net revenue of $2.7 billion in the second quarter, an 8 percent increase compared to the previous quarter and 51 percent higher than the same quarter last year.

More Info: techcrunch.com

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