Uber’s head of finance is out
Uber’s head of finance, Gautam Gupta, has left the company, the Wall Street Journal reports. His departure comes as Uber has reported losses of $708 million.
In Q1, Uber’s revenue was $3.4 billion, an 18% increase from its last quarter. Uber suffered losses of $708 million, not including employee stock compensation “other items,” the WSJ reports. In the three months prior, Uber’s losses were $991 million. On hand, Uber has $7.2 billion in cash, according to the report.
This means that in addition to looking for a number-two executive to team up with Uber CEO Travis Kalanick, Uber now also needs a head of finance. Uber has not had a chief financial officer since 2015, when Brent Callinicos bounced and ultimately joined Hyperloop One.
It’s been a rough year for Uber, between allegations of sexual harassment and a series of departures of top-level people at the company. Just last week, Uber lost its general counsel for the Middle East, Europe and Africa.
I’m expecting a call from Uber soon and will update this story when I hear back.
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Source: Tech Crunch