Uber boss Travis Kalanick says IPO is not on the near-term agenda

Caitlin Morrison
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Uber boss Travis Kalanick has shrugged off talk of an imminent IPO (Source: Getty)

Uber's chief executive Travis Kalanick has stated there are no plans to float the company on the stock market in the near future.

The ride-hailing app firm's boss and co-founder told CNBC that he is "going to make sure [an IPO] happens as late as possible", adding that a flotation is definitely not going to happen in 2016. When asked whether an IPO is on the cards in the next two, three or five years, Kalanick said: "I have no idea."

He said Uber has a "moral obligation" to make sure the company has a strong foundation if a float does take place.

"We have employees as well who put in a lot of blood, sweat and tears to make Uber successful and they own equity," he said.

Kalanick's remarks are at odds with reports from last year that the company was looking at a potential IPO by early 2017. A confidential document leaked in August 2015 revealed that Uber was forecast to go public within 18-24 months.

In December last year, Uber unveiled fundraising plans valuing the company at around $62.5bn (£43.9bn).