VC Fred Wilson Accuses Travis Kalanick of “Wimping Out” on Uber IPO

Uber CEO Travis Kalanick speaks at a ceremony at the Baidu headquarters in Beijing on December 17, 2014. Baidu, China's leading search engine, and ride sharing company Uber announced a strategic investment and cooperation agreement on December 17. AFP PHOTO / Greg BAKER (Photo credit should read GREG BAKER/AFP/Getty Images)
Photograph by Greg Baker — AFP via Getty Images

Fred Wilson, outspoken venture capitalist, has some strong feelings about Uber CEO Travis Kalanick not taking the company public.

In an interview with Fortune’s Dan Primack at the Upfront Summit in Los Angeles on Thursday, Wilson expressed his frustration at tech companies taking their time going public. As Fortune previously reported, 2015 was the slowest year since 2009 for tech company IPOs. Wilson compared the process to taking medicine. It’s unpleasant, but it’s good for you—and Kalanick is chickening out.

Uber currently has a valuation of over $62 billion and is continuing to raise capital in the private market. The CEO still thinks that the company needs to mature and is “nowhere near” an IPO.

“He’s wimping out,” Wilson told Primack. “That should be a publicly traded company.” He says that investors will want their money back at some point, and Kalanick has a responsibility to make sure that happens. “You can’t just say f— you. Take the goddamn company public.”

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.

Read More

Artificial IntelligenceCryptocurrencyMetaverseCybersecurityTech Forward