Former Uber CEO Travis Kalanick and his fellow co-founders will be in attendance at the New York Stock Exchange when the ride-sharing company goes public on Friday, but isn’t expected to take part in the traditional bell-ringing ceremony.
Continue Reading Below
Kalanick’s presence at the event will be limited to an appearance on the NYSE floor with his father, FOX Business correspondent Susan Li reported on Thursday. Uber is expected to seek a valuation of $80 billion to $90 billion when it begins trading.
Kalanick asked his replacement, Uber CEO Dara Khosrowshahi, if he and fellow co-founders Ryan Graves and Garrett Camp would have a role in the ceremony, Axios reported earlier this month. Top executives are generally invited to ring the bell to kick off trading on their first day as a public company.
Khosrowshahi reportedly decided not to invite Kalanick to take part in the ceremony.
Uber and the New York Stock Exchange did not immediately return a request for comment.
Kalanick helped to found Uber and oversaw its growth from a niche app into a mainstream transportation company. He served as CEO until 2017, when he resigned amid allegations that Uber’s workplace had a culture that failed to address sexual harassment and gender discrimination, as well as multiple other scandals.
Kalanick still owns 8 percent of the company and sits on its board of directors. He will earn billions of dollars when Uber goes public.