Billionaire Bill Ackman’s Defense Fund manager revealed on Friday that his activist investment firm has purchased shares worth approximately $ 2 billion of Uber-Share company shares.
Uber shares were trading more than 9% higher around 1pm in eastern times on Friday after Ackman wrote in X that his company, Persing Square Capital Management, has a share in the application reaching about 1% of the market his $ 161.13 billion
“Starting from the beginning of January, we start taking a position at @uber. Today, we own 30.3 million shares, ”Ackman wrote on Friday.
On his X after Friday, Ackman ALtedi in the chaotic management of Uber under his controversial co -founder Travis Kalanick and praised the current chief executive, Dara Khosrowshahi.
“While an excellent business, Uber was suffering from irregular management,” wrote the billionaire’s defense fund manager.
“Since he joined the company in 2017, CEO Dara Khosrowshahi has done a great job in turning the company into a highly lucrative and generative money growth machine,” according to Ackman.
“We believe Uber is one of the best managed and highest quality businesses in the world,” Ackman wrote. “The miracle, it can still be bought with a massive discount of its inner value.”
Ackman wrote that “this favorable combination of attributes is extremely rare, especially for a large lid company.”
“We will have more to share about our thinking about the company soon.”
Under the Khosrowshahi Hour, Uber was made public in May 2019 with one of the biggest IPOs in history, but its shares initially fought, debuting $ 45 per action and the decline below is the price of IPO for an extended period I want to worry about the benefit.
Since then, Uber has returned, becoming lucrative-with its shares recently exceeding $ 75 after investors gain confidence in its long-term growth.
Ackman said he first became intrigue with Uber when actor Edward Norton, an angel investor and one of the first to collect the company’s shares, showed him the app.
Norton, the hit star like “Fight Club”, “Primal Fear” and “The 25th Ora”, was friendly with Kalanick, who won the actor of the first Uber passenger in Los Angeles.
“I met Travis… again when [Uber] It was still a kind of little shocked experiment in San Francisco, and I was very impressed by what he was doing, “the actor said” an unknown full “told ABC Late Night Jimmy Kimmel in 2014.
“As someone who has had a long antipathy and physical battle with New York’s taxi leaders, I begged him to bring him to New York City. He prayed.”
The post has requested comment from Norton and Uber.
Kalanick co-founded Uber in 2009 and helped to turn him into a global giant of traveling, but his aggressive style of leadership led to speed expansion and controversy.
His mandate was marked by scandals, including reports of a toxic culture in the workplace, regulatory battles and mistreating a high profile sexual harassment, which led to investor pressure for his resignation in 2017.
Despite its exit, Kalanick is believed to play a key role in revolutionary transport, and Uber remains one of the most influential technology companies in the world.
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