Quantcast
Channel: Travis Kalanick
Viewing all articles
Browse latest Browse all 412

Employees at Uber's headquarters reportedly started drinking before 6 a.m. on the day of its IPO, and a party at another office was shut down

$
0
0

Uber IPO Dara Khosrowshahi

  • Partying at Uber's headquarters in San Francisco started at 5:30 a.m. on May 10, the day the company launched its initial public offering, The Washington Post's Faiz Siddiqui reported.
  • San Francisco employees started drinking in the office during the morning and continued drinking throughout the afternoon, the report said.
  • The festivities in San Francisco led to one employee's resignation after "a verbal outburst and dispute with colleagues" and forced the company to stop another employee from driving home, according to The Post.
  • A party at a satellite office in California was shut down, according to The Post.
  • Uber did not immediately respond to Business Insider's request for comment.
  • Visit Business Insider's homepage for more stories.

Partying at Uber's headquarters in San Francisco started at 5:30 a.m. on May 10, the day the company launched its initial public offering, The Washington Post's Faiz Siddiqui reported.

San Francisco employees started drinking in the office during the morning and continued drinking throughout the afternoon, spraying champagne and consuming liquor that had been stored in their desks since Travis Kalanick, one of the company's cofounders, was CEO, according to The Washington Post's report. (Kalanick was replaced by Dara Khosrowshahi in 2017.)

The festivities in San Francisco led to one employee's resignation after "a verbal outburst and dispute with colleagues" and forced the company to stop another employee from driving home, according to The Post. A party at a satellite office in California was shut down, The Post reported.

Read more:Dara Khosrowshahi hasn't yet earned his $100 million-plus stock bonus for when Uber hits a $120 billion valuation — but there's still time for him to do it

Uber did not immediately respond to Business Insider's request for comment.

The Post's report of Uber's IPO-day celebrations recalled the boisterous and aggressive culture during Kalanick's tenure described by employees who said the company had created a hostile, overly competitive environment that was particularly harmful toward women.

Concerns about Uber's workplace culture contributed to Kalanick's departure and the hiring of Khosrowshahi, who has emphasized cultural change during his tenure. He outlined this goal in a 2017 LinkedIn post, in which he wrote, "We do the right thing. Period."

Before Khosrowshahi took over, Uber hired former US Attorney General Eric Holder to investigate the company's culture, and in a 13-page report, Holder's recommendations included banning alcohol consumption during work hours and "de-emphasizing alcohol as a component of work events." Uber's board of directors agreed to implement all of Holder's recommendations.

Uber's share price fell 6.7% on its first day of trading, though it recovered to a level near its starting price of $42 when markets opened on Friday.

Read The Washington Post's full story here.

SEE ALSO: Short sellers are betting $768 million that Uber IPO will fall even further — but a 'weird' signal means it could have been worse

Join the conversation about this story »

NOW WATCH: Look inside Nissan's 50th anniversary edition GT-R


Viewing all articles
Browse latest Browse all 412

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>