Uber shares go up in ‘best week ever,’ eyes more growth

RIYADH: Uber’s chief described last week as the “best week ever” for the transport company, as its shares jumped 5 per cent on Tuesday, CNBC reported.

Dara Khosrowshahi said that the ride-sharing business has nearly 90 per cent recovered from the effects of the pandemic and he is ‘confident’ it will hit record highs in 2022.

“Our overall mobility business continues to get closer to pre-pandemic levels,” Khosrowshahi said.

The company plans to focus on developing partnerships with grocery stores rather than building its own fulfillment warehouses, the CEO stated.

Uber is also currently seeking to sell stakes in its nonstrategic assets, including its holding in China’s Didi Global Inc, Khosrowshahi said.

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