Billionaire Bill Ackman’s Defense Fund manager revealed on Friday that his activist investment firm has purchased shares worth approximately $ 2 billion of Uber-sending the track of the travel company shares.
Uber shares were trading more than 9% higher around 1pm at birth on Friday after Ackman wrote in X that his company, Persing Square Management, has a share in the application reaching about 1% of capitalization of his market $ 161.13 billion.
“Starting in early January, we began to adopt a position at @uber. Today, we own 30.3 million shares,” Ackman wrote on Friday.
In his post X on Friday, Ackman ALudo in the chaotic management of Uber under his controversial co -founder Travis Kalanick and praised the current chief executive, Dara Khosrowshahi.
“While a great business, Uber suffered from disorderly management,” wrote the billionaire’s defense fund manager.
“Since he joined the company in 2017, CEO Dara KhosroWHAHI has done a great job in turning the company into a very 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. “Wonderful, 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 clock of Khosrowshahi, Uber was released in May 2019 with one of the biggest IPOs in history, but his shares initially fought, debuting $ 45 per action and falling under his prize for an extended period due to concerns about the benefit.
Since then, Uber has returned, becoming lucrative-with his recent shares lasting $ 75 after investors gain confidence in his long-term growth.
Ackman said he was first intrigued 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 “25th hour”, was friendly with Kalanick, who won the actor the difference to be Uber’s first passenger in Los Angeles.
“I met with 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” a complete unknown “told ABC Night 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 rapid expansion and controversy.
His mandate was recorded by scandals, including reports of a toxic workplace culture, regulatory battles and mistreatment of a high profile sexual harassment case-led to investors’ pressure for his resignation in 2017.
Despite its exit, Kalanick is believed to play a key role in the revolutionary of transport, and Uber remains one of the most influential technology companies in the world.
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