TU-TESL

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On November 7, according to foreign media reports, Uber's stock price is still falling, and investors are increasingly suspicious of its huge loss. Chief executive Dara khosrowshahi defended the company's business on Wednesday local time. At the DealBook conference of the New York Times, kosrosassi was asked if he was happy that the company's timely listing had avoided situations like Wework. Wework was thought to hold the hottest initial public offering this year, but investors hesitated about its huge losses and unusual business structure, and the company finally postponed its listing and had to accept the rescue of Softbank, the main investor. "We are very different from Wework," says kosrosasi. Fundamentally speaking, the carpooling market has been quite large, is a global market, is an attractive business, and will only become better in the increasingly competitive market. " In fact, there are many similarities between the two companies: both companies regard Softbank as the largest investor, accept the early venture capital investment of benchmark capital, and show an annual operating loss of more than $1 billion. Earlier Tuesday, Softbank, led by Masayoshi son, reported a quarterly loss of $6.5bn, largely due to write downs of its vision fund investments in both companies. On the stage, Mr khosrosasi acknowledged that Uber had felt the effect of public and private investors' skepticism on it, "and that appetite for the unknown and the high risks has declined.". But he said that this "forces Uber to perform better", the company announced that it expects to achieve EBITDA profits in 2021, and the increasingly rational car Hailing market will prove it. He added that the core online car Hailing business is essentially Uber's version of Amazon cloud computing service AWS, which has become Amazon's main profit engine, and the online car Hailing business should help Uber achieve profits. Kosrosasi's comments came at a time when Uber's IPO lock-in agreement expired. This is the first time that insiders have been able to sell Uber since it went public in May, which analysts warn could put short-term pressure on the stock. Earlier this week, Uber reported third quarter results, sending shares down nearly 10%. In its results, the company reported a net loss of more than $1 billion for the quarter. In a conference call with analysts, executives raised the goal of achieving EBITDA profit in 2021, but many analysts continued to raise skeptical questions to explore more details. Uber shares fell 3.8% on Wednesday.