Sign up to receive 5 free days of our daily summary for tech news.

Special Offer: Try out The Information today for only $10/month for your first 3 months. 
Uber/Lyft Markets

Uber’s CFO in Spotlight Ahead of IPO

In the past couple of months, in the run up to Uber's IPO this week, Uber employees on occasion have asked CFO Nelson Chai during internal meetings whether they should sell their shares once they’re able to, when lock-up restrictions lapse six months after the company goes public. Rather than exhort employees to hold onto their stock, Mr. Chai’s standard response has been more neutral. “Go talk to a financial adviser. That’s a personal decision,” he has said, according to people who have some of these exchanges. 

In the seven months since joining Uber, the 53-year-old Mr. Chai has won a reputation among the company’s rank and file for candid responses to tough questions. Even more importantly, he has proved willing to tackle Uber’s heavy losses head-on, by cutting some costs and imposing discipline on hiring managers, say people who work with him. In order to unlock bigger budgets, executives now must present arguments for how new investments will pay themselves back. Expense reports are being rejected with higher frequency, these people said. Mr. Chai has also taken steps to seal gaps in Uber’s financial controls.

What Is The Information?

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting you won't read anywhere else from the largest newsroom in tech.

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Get access to our reporters and other top executives with monthly deep-dive calls into topics like startups and autonomous vehicles.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

What else is included in my subscription?

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Annual Subscriber only benefits:

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Crypto Newsletter

Our experts investigate the latest in the crypto world to keep you in-the-know about the movements of digital currencies.

No subscription? You're missing out.

Join the high-powered community of tech and business leaders who rely on The Information's original news and in-depth reporting.


Recent Articles

Venture Capital Uber/Lyft

What the Uber IPO Did and Didn’t Teach Us

By Jessica E. Lessin


Uber Chairman Warns Directors of Duties as Kalanick Hires Uber Staff

By Amir Efrati


Food Delivery, Foreign Markets Weigh on Uber Results

By Amir Efrati

Startups Markets E-commerce

Postmates Ad Spending Surges Ahead of IPO

By Priya Anand

Mr. Chai also issued rules on hiring, which Uber managers did not face in the past, and he has curtailed travel and other expenses.