Warren Buffett reportedly tried to invest $3 billion in Uber


Asked about whether the talks could resume, Khosrowshahi said it was "always possible" and he would welcome any kind of dialogue with Buffett.

Uber's good reputation was ruined after a series of scandals that shook the company during the previous year and even led to the resignation of the executive director Travis Kalanik. "Some of the reported details are not correct, but it's true that Berkshire had discussions with Uber".

Warren Buffett earlier this year offered to invest $3 billion in Uber Technologies Inc., but the two sides couldn't agree on the terms, according to a person familiar with the matter.... The Uber board of directors has committed to a 2019 initial public offering, and Khosrowshahi has not strayed from that timeline.

Japanese tech investor SoftBank Group Corp. 9984, +0.23%, which holds a 15% stake in Uber, bought $6.5 billion worth of the company's stock in January at a $48 billion valuation.

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Uber Chief Executive Officer Dara Khosrowshahi proposed decreasing the size of the deal to $2 billion, giving Buffett a smaller share of the company. "One of my business goals in life has been to get Warren Buffett to invest in something that I'm involved in and, so far, I failed". "His brand, his smarts are unparalleled". Warren Buffett has all of the money.

"We are a company that has an enormous growth trajectory, but at the same time, that comes with considerable risk. We have a very strong balance sheet, and I do think that we are on track".

Since taking over late last summer, Khosrowshahi, the well-regarded former CEO of Expedia, has been grappling with legacy issues related to his predecessors - ranging from push-back from cities such as London and lawsuits for women who say they are not safe riding in an Uber - to obstacles that have cropped up under his watch.

Mr Khosrowshahi has since his August appointment been trying to improve the image of Uber, which has been rocked by management turmoil and tarnished by revelations about an alleged sexist workplace culture tolerant of chauvinism.