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Uploaded byHala Taha
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UBER

The document outlines Uber's IPO preparation timeline from 24 months to 1 month before going public. It details steps like establishing governance, assessing financials and risks, ensuring regulatory compliance, and finalizing board and management. Key actions include recruiting advisors, enhancing controls, addressing legal issues, confirming IPO benefits, and analyzing competitors. The timeline aims to position Uber for a successful IPO.

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FY15 – FY17 IPO preparation timeline Corporate governance process 24-months before IPO 21-months before IPO Compliance with laws and regulations 18-months before IPO Preparation of financial history 15-months before IPO Does IPO still makes most sense for future of business? 12-months before IPO Make changes as necessary to Board of Directors & executive management 9-months before IPO Mitigate risk and address the issues IPO
Corporate governance process 24-months before IPO Establish internal team to manage the IPO process, enhance if necessary Develop a robust business plan with objectives of going public, as well as a plan B Appoint external advisors including financial, accounting and legal advisory team Prepare historical financial information & establish financial reporting procedures Adopt leading-practice corporate governance and reporting processes with transparent shareholder and corporate structure Get your ducks in a row:
Makes changes as necessary to Board of Directors & executive management 21-months before IPO Current Board Members: Robert Hayes – First Round Capital Bill Gurley CFA – Benchmark Capital David Bonderman JD –TPG Capital David Drummond JD – Google Current board is too specialized Recruit additional board members in areas where current board is lacking Establish risk advisory committee with expertise in US and International laws Evaluate and make changes as necessary to executive management Determine risk appetite and compose risk appetite statement Mean business:
FY14 ― Recent set-backs
Mitigate risk & address the issues 18-months before IPO Address the negative attention received in the media regarding legal issues and the use of dynamic pricing Have a low risk appetite for dangerous drivers― better screening & background check Gain public’s trust in drivers by showing good will Eliminate deal breakers and resolve any potential litigation or due diligence issues History of taxi & car service laws that heavily regulate the industry, and protect the rights of taxi owners Collaborative economy ― Partner with government, insurance company and contractors Install panic button in cars to provide safety to passengers Be a step ahead - Partner with Google for driverless UBER car Clean up your act:
Compliance with laws & regulations 15-months before IPO Review management information systems & operational and compliance controls Comply with all financial reporting requirements of IPO, and ensure transparent financial disclosures Understand risks and regulations of IPO transaction, including publicity and disclosure Establish a high livery regulation standard that can be modified slightly to different markets as needed.Continuously re-evaluate depending on industry landscape Establish localized livery regulation legal advisory teams for every state, region or city that modifies the company-wide regulation standard based off specific law in the area Address key legal areas: Material contracts Litigation Intellectual property Regulatory issues (licenses/consents) Third-party consents (banks, shareholders) By the book:
One month analysis 12 - months before IPO 0 0 0 0 0 1 1 1 1 1 1 LULU ADDYY GPS NKE LULU ADDYY GPS NKE
One month analysis 12 - months before IPO 0 0 0 0 0 1 1 1 1 1 1 LULU ADDYY GPS NKE LULU ADDYY GPS NKE
Preparation of finances 12 - months before IPO End of 2013 – 125M in revenues End of 2015 – Estimated revenues 2 – 10B Rapid financing rounds Securities Growth focused Primed for IPO within next 3 Years Where’s the Profit? Show me the money:
Confirm that IPO makes most sense for future of business Raise capital Fund R&D, capital expenditure, pay off existing debt Generate publicity Increase in market share Attract Seasoned Executives Exit strategy for Venture Capitalists/Other Investors 9-months before IPO Save money Fund R&D, capital expenditure, pay off existing debt Generate publicity Increase in market share Attract Seasoned Executives Exit strategy for Venture Capitalists/Other Investors Go for it: Run for it:
UBER
Positive Outlook – Collaborative Economy • USAA, Uber and Colorado Embrace the Collaborative Economy – Innovate and collaborate to resolve the issues of risk and protection that hinder growth, acceptance and adoption of ridesharing. • Colorado Becomes First State to Authorize Ridesharing – Obtain permits from the Colorado Public Utilities Commission and carry at least $1 million in liability insurance – companies or their drivers will also have to carry primary insurance coverage during the gap period between when the app is turned on and a rider enters the vehicle. • USAA Offers Innovative Ridesharing Coverage – Pilot program in February 2015 – Protect Uber drivers from the moment their ridesharing mobile apps are turned on until they are matched with a passenger – Metlife, Erie Insurance are also offering
Pros of Uber • Safety – knowledge of who and record of travel • Uber is as a cross between lifestyle, which is “gives me what I want, give it to me right now and the logistics to get it to you” • Link smartphones users to nearby cars • Cashless payment system (no negotiation) • Surge pricing (free market economics) • Transparency (time, costs, driver info and rating) Uber can make cities productive and less congested Study conducted in Berkeley University
Uber Setbacks • Insurance Coverage • Subprime loans – Ubers two financial partners, GM and Santander Consumer USA were subpoened by the US Department of Justice • Surge Pricing • Labor Lawsuit – Cheating drivers out of fair wages – Drivers pay out of pocket expense like gas & maintenance • Taxi Wars – Does not have same licensing and safety regulations as traditional taxi company
Recent Setbacks
Risks and Challenges • Uber will need to address the negative attention it has received in the media regarding legal issues and the use of dynamic pricing • Better drivers screening and background check • Facing Uber is a potential ubiquitous history of taxi and car service laws that heavily regulate the industry, and protect the rights of taxi owners • Drivers can acquire new customers and implore them to call directly instead of using the app
Risks and Challenges • Drivers can work for multiple companies therefore it might be difficult to know when they use the app and when they don’t • Be a step ahead and make sure Uber doesn’t miss any opportunity • Uber relies heavily on social media for its promotions, so any controversial negative experience comments could affect the popularity