Latest news with #Khosrowshahi
Yahoo
06-06-2025
- Business
- Yahoo
Uber Is Once Again Considering Crypto Payments, Years After Mulling BTC as Payment Method
Uber CEO Dara Khosrowshahi said the ride-hailing giant is exploring the use of crypto as a payment method, which marks the third time the company has made the claim since 2021. Speaking at the Bloomberg Tech conference in San Francisco on Thursday, Khosrowshahi said the company is in the 'study phase' of evaluating stablecoins for operational use. 'I think stablecoins are one of the more interesting instantiations of crypto that have a practical benefit beyond being a store of value,' Khosrowshahi said. Uber was an early member of the Diem Association (formerly Libra), joining in 2019 to support Meta's now-defunct stablecoin initiative aimed at reshaping global payments. 'You can have your opinions on Bitcoin, it's a proven commodity, and people differ on where it's going. But stablecoins seems quite promising, especially for global companies moving money around internationally,' Khosrowshahi continued on Thursday. 'That's super interesting to us, and we're definitely going to take a look.' The remarks echo what Khosrowshahi told CNBC in September 2021, when he said Uber would 'look into' accepting BTC and other cryptocurrencies as payment. At the time, he dismissed any plans to put crypto on the company's balance sheet, saying, 'We are going to keep our cash safe.' Later, in February 2022, Khosrowshahi told Bloomberg that the company would 'absolutely' accept cryptocurrencies as a form of payment at 'some point' in the future, but emphasized that the time wasn't right yet. 'We're having conversations all the time,' Khosrowshahi said at the time. 'As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.' When he made crypto-related comments in 2021, BTC traded flat for the next three months. However, his February 2022 comments came weeks before the beginning of an industry-shaking major market correction, which kicked off later that spring.
Yahoo
05-06-2025
- Business
- Yahoo
Uber CEO says stablecoins could reduce cross-border costs
Uber CEO says stablecoins could reduce cross-border costs originally appeared on TheStreet. Uber is looking into stablecoins as a potential solution for moving money across borders more efficiently, according to CEO Dara Khosrowshahi. Speaking at the Bloomberg Tech conference in San Francisco on Thursday, Khosrowshahi said the company is in the 'study phase' of exploring stablecoins, digital assets typically pegged to fiat currencies like the U.S. dollar. Stablecoins, he said, offer 'a practical benefit other than crypto's historic value.' For a company with a global footprint like Uber, he noted, it's 'quite promising especially for global companies' since it could help lower the cost of transferring funds internationally. 'That's super interesting to us and we're definitely going to take a look,' Khosrowshahi added. While the company is still in the early research stage, the Uber CEO also made a brief reference to Bitcoin, calling it a 'proven commodity,' but did not elaborate further on its potential use by the platform. Stablecoins are digital tokens designed to maintain a stable value by being pegged to assets like the U.S. dollar or euro. They combine the speed and transparency of crypto with the stability of traditional currency. Most are backed by reserves like cash or short-term government bonds. U.S. lawmakers are currently discussing legislation aimed at regulating stablecoins, which are increasingly being adopted for their perceived stability and low transaction costs. Uber has yet to make any formal announcements about accepting crypto, but Khosrowshahi's comments show the company is actively exploring the technology's practical use cases. As per Kraken's price feed, Bitcoin is down 1.9% in the last 24 hours, currently trading around $103,019. It has dropped from a weekly high of $106,723. Uber CEO says stablecoins could reduce cross-border costs first appeared on TheStreet on Jun 5, 2025 This story was originally reported by TheStreet on Jun 5, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
04-06-2025
- Business
- CNBC
Uber adds Palo Alto CEO Nikesh Arora to its board after executive shakeup
Nikesh Arora, the CEO of Palo Alto Networks, is joining Uber's board of directors, the company announced in a regulatory filing Wednesday. It comes amid a broader executive shakeup this week at the ride-hailing company, which saw head of delivery Pierre-Dimitri Gore-Coty depart after 13 years. Andrew Macdonald, head of mobility, was promoted to president and chief operating officer, Uber's first since 2019. "I'm honored to join Uber's Board at such an exciting time, as the company plays a central role in commercializing autonomous mobility around the world," Arora said in a statement. "Uber has already fundamentally transformed how people and goods move through cities, and I look forward to contributing to the company's continued success." Arora has been chairman and CEO of Palo Alto since 2018. Prior to that, he was president and chief operating officer of Softbank and also held positions at Google and T-Mobile. Arora has previously served the boards of Softbank, Sprint, Colgate-Palmolive and others, and currently sits on the board of a Swiss luxury-goods holding company. "Nikesh is one of the technology industry's great executives: a strategic and disciplined operator, and a fierce competitor," Uber CEO Dara Khosrowshahi said in a statement. "We're thrilled to welcome him to the board and look forward to his contributions as we continue to advance our long-term strategy." The shakeup comes as Uber faces increased competition, particularly in the robotaxi space. Tesla is planning its long-awaited robotaxi launch in Austin on June 12. Alphabet-owned Waymo, which partners with Uber in Austin and Atlanta, recently hit 10 million paid driverless rides, with weekly rides jumping 150% in less than a year. Food delivery competitor DoorDash has been aggressively expanding its reach, acquiring delivery firm Deliveroo and booking platform SevenRooms in the past month. The management changes, including the elevation of Macdonald, who will oversee delivery, mobility and autonomy, could allow Khosrowshahi to take on a more strategic role. Khosrowshahi joined Uber in 2017, bringing it public in 2019 and to its first operating profit in 2021. Since then he has expanded the Eats and delivery business, smoothed over regulatory issues, and sold Uber's in-house AV unit in favor of partnerships with companies like Waymo and the UK's Wayve. "I recognize the change might prompt some questions about my future, so I'll be clear: I have no plans to go anywhere anytime soon -- other than fly around the globe trying to keep up with our ever-growing footprint," Khosrowshahi told employees in an internal memo announcing the COO changes. For his board service, Arora will receive a $60,000 annual cash retainer and $300,000 of restricted stock units a year, according to the filing.
Time of India
03-06-2025
- Automotive
- Time of India
Pradeep Parameswaran elevated as Uber's global mobility head in top-level rejig
Uber has promoted Pradeep Parameswaran , its former India and Asia Pacific head, as the global head of mobility , as part of a broader leadership shake-up at the San Francisco-based ride-hailing giant, ET has learnt. According to an internal mail seen by ET, Parameswaran will join Uber's executive leadership team reporting directly to Khosrowshahi. Mobility heads of various regions, including Asia Pacific, Europe Middle East and Africa (EMEA), and US and Canada will report to Parameswaran. Parameswaran takes over from longtime Uber executive Andrew Macdonald, who has now been elevated to chief operating officer after more than 13 years at the company. This marks Parameswaran's second elevation in just over a year. He was appointed global head of business development in 2023, and also led Uber's enterprise product and a newly formed 'fleets' programme team. He was earlier promoted to head of the Asia Pacific region in 2020 during the pandemic. Parameswaran has played a key role in Uber's international expansion, including its acquisitions of CarNextDoor in Australia (2022) and HKTaxi in Hong Kong (2021). He also serves on the board of FSN E-Commerce Ventures — the parent company of beauty and fashion platform Nykaa — as an independent director. Uber's India and South Asia business continues to be led by Prabhjeet Singh. The development was first reported by Bloomberg, which cited an internal memo from Uber CEO Dara Khosrowshahi . In the note, Khosrowshahi addressed speculation around his own future, saying, 'I recognise the change might prompt some questions about my future, so I'll be clear: I have no plans to go anywhere anytime soon – other than fly around the globe trying to keep up with our ever-growing footprint.' Indian-origin leadership at Uber This move further expands the presence of Indian-origin executives in Uber's global leadership. In October 2024, Uber appointed Sachin Kansal and Praveen Naga as chief product officer and chief technology officer, respectively, following the departure of Sundeep Jain after a six-year stint as CPO. Uber's delivery engineering head Anirban Kundu also exited to become CTO at Instacart . Kansal has been with Uber for over seven years, while Naga joined the company's engineering team in 2015. Uber has a significant technology presence in India, with over 1,500 employees across Bengaluru and Hyderabad, working on global product and engineering initiatives.
Economic Times
03-06-2025
- Automotive
- Economic Times
Pradeep Parameswaran elevated as Uber's global mobility head in top-level rejig
Uber has promoted Pradeep Parameswaran, its former India and Asia Pacific head, as the global head of mobility, as part of a broader leadership shake-up at the San Francisco-based ride-hailing giant, ET has to an internal mail seen by ET, Parameswaran will join Uber's executive leadership team reporting directly to Khosrowshahi. Mobility heads of various regions, including Asia Pacific, Europe Middle East and Africa (EMEA), and US and Canada will report to takes over from longtime Uber executive Andrew Macdonald, who has now been elevated to chief operating officer after more than 13 years at the company. This marks Parameswaran's second elevation in just over a year. He was appointed global head of business development in 2023, and also led Uber's enterprise product and a newly formed 'fleets' programme team. He was earlier promoted to head of the Asia Pacific region in 2020 during the pandemic. Parameswaran has played a key role in Uber's international expansion, including its acquisitions of CarNextDoor in Australia (2022) and HKTaxi in Hong Kong (2021). He also serves on the board of FSN E-Commerce Ventures — the parent company of beauty and fashion platform Nykaa — as an independent director. Uber's India and South Asia business continues to be led by Prabhjeet Singh. The development was first reported by Bloomberg, which cited an internal memo from Uber CEO Dara Khosrowshahi. In the note, Khosrowshahi addressed speculation around his own future, saying, 'I recognise the change might prompt some questions about my future, so I'll be clear: I have no plans to go anywhere anytime soon – other than fly around the globe trying to keep up with our ever-growing footprint.'Indian-origin leadership at UberThis move further expands the presence of Indian-origin executives in Uber's global leadership. In October 2024, Uber appointed Sachin Kansal and Praveen Naga as chief product officer and chief technology officer, respectively, following the departure of Sundeep Jain after a six-year stint as CPO. Uber's delivery engineering head Anirban Kundu also exited to become CTO at Instacart. Kansal has been with Uber for over seven years, while Naga joined the company's engineering team in 2015. Uber has a significant technology presence in India, with over 1,500 employees across Bengaluru and Hyderabad, working on global product and engineering initiatives.
