CEO Dara Khosrowshahi sent a letter to employees after Uber's messy IPO last Friday, comparing the road ahead to what Amazon and Uber faced post-IPO.
, according to an analysis from University of Florida professor Jay Ritter. On Monday, the stock was down another 11% by early afternoon.
Uber is holding an all-hands for employees this week, and the letter was intended as a means of addressing employee concerns with the IPO ahead of that. First off, I want to thank you all for your passion for and commitment to Uber. We simply would not be here without you. Every stock is valued based on the projected future cash flows/profits that the company is expected to generate over its lifetime. There are many versions of our future that are highly profitable and valuable, and there are of course some that are less so. During times of negative market sentiment, the pessimistic voices get louder, and the optimistic voices pull back.
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