Uber CEO Travis Kalanick Responds to Critics Who Want IPO Kalanick also announced Arianna Huffington, founder and editor-in-chief of The Huffington Post, is joining Uber's board of directors.

By Matthew J. Belvedere

This story originally appeared on CNBC

Bloomberg | Getty Images
Uber CEO Travis Kalanick

Travis Kalanick, co-founder and CEO of ride-hailing service Uber, said Wednesday he's going to take as long as possible to go public -- responding to critics and stressing he's focused on product and innovation, not liquidity.

"We are 5-and-a-half-years old. And it's a little early in our lifecycle go there," Kalanick told CNBC's Squawk Box, referring to the IPO process. "We'll go there eventually. We have to find liquidity for ... [investors]."

Back in February, Union Square Ventures partner Fred Wilson was critical of Kalanick, saying: "He's wimping out. [Uber] should be a publicly traded company. ... You have a responsibility to give me my money back sometime."

Kalanick told CNBC that Wilson does not have money in Uber. "He passed on the Series B [funding round,] if I remember correctly. That was a $300 million valuation. Just putting that out there."

The Series B closed in January 2012. Since then, Uber's valuation has skyrocketed, currently estimated at about $62 billion.

Listening to the interview, CNBC's Kayla Tausche tweeted out Kalanick's response to Wilson. Moments later, Wilson responded to her tweet, writing Kalanick was "correct" about his passing on Uber.

Also on Wednesday, Kalanick announced Arianna Huffington, founder and editor-in-chief of The Huffington Post, is joining Uber's board of directors.

He told CNBC he's known Huffington for a few years and he felt that they had a connection from the beginning. "We have a simpatico thing on building companies.

In a post on Uber's website, Kalanick wrote:

"For those of us who know Arianna, it's clear she knows a thing or two about being an entrepreneur."

"From the start of our friendship it was obvious that she believes deeply in our mission."

"[Her] ability to tell stories is invaluable for an engineer like me, whose natural tendency is to rely on data."

Huffington, sitting next to Kalanick, told CNBC she was briefed extensively about the company in the lead-up to becoming a board member.

Kalanick walked her through "the big-ball bets for the future, through the controversies, through the cultural values," she said, adding the final meeting to get her on the board was last week.

Matt Belvedere is a veteran journalist at the intersection of where live television news programs and the Internet meet -- developing and managing an online and social media presence for CNBC's flagship morning show, "Squawk Box."

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

How to Build Endless Passive Income With This Simple Online Hustle

Autopilot stores aren't just income streams. They are passports to freedom, flexibility and finally working and living on your own terms.

Business News

ChatGPT's New Update Can Create PowerPoint Presentations and Excel Spreadsheets for You

The new AI agent can generate Google Sheets and slide decks, making it a powerful new office tool.

Health & Wellness

This Is the Newest Real Estate Trend You Can't Miss — and It's Worth $438 Billion

A rapidly emerging new trend is sweeping the global real estate sector, powered by humanity's collective desire for longer lives and healthier lifestyles. Here's what entrepreneurs should pay attention to to capture the new market.

Side Hustle

This 29-Year-Old's Side Hustle Brought People 'to the Dark Green Side.' It Made $10,000 Within 2 Days and Sees 6 Figures a Month.

Nikki Seaman began work on her business when the pandemic led to grocery store shutdowns.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Elon Musk's xAI Is Hiring Engineers for Its Anime 'AI Companions' — With Salaries Up to $440,000 a Year

xAI launched a set of "AI companions" earlier this week, with a third on the way.