What Uber's Problems in London Mean for Its IPO
Uber has tentative plans to file for its initial public offering (IPO) in the next 18 to 36 months, according to the company's new CEO Dara Khosrowshahi. But potential investors may be less enthralled with the idea of owning Uber stock after the Transport for London (TfL) -- the city's highest transportation authority -- said last week that it won't renew Uber's private-car hire license.
"TfL considers that Uber's approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications," the city said in a statement.
One of the key problems the TfL has with Uber is the company's use of its now infamous Greyball software, in which phony Uber vehicles were shown in some users' apps in order to hide the locations of real Uber vehicles from government officials (more on this later).
Source: Fool.com
