Uber's IPO celebrations were boozed-filled benders that and occasionally got out of control, hearkening back to the company's culture under ousted CEO Travis Kalanick.
Uber chief executive Dara Khosrowshahi, third from left, at the New York Stock Exchange for the company’s public listing.
Still, while Uber’s senior executives were away in New York for the company’s $82 billion IPO, staffers at the San Francisco headquarters and elsewhere were drinking in the offices to celebrate the company’s stock listing, which made some of them rich.
Silicon Valley already lures employees with promises of open workspaces, complimentary coffee and juice bars, catered meals and work environments that generally mimic social settings. Cultural problems at tech companies have long been associated with excessive free alcohol at work events and parties. These types of amenities can lead to unrealistic expectations and, in Uber’s case, some said, created an atmosphere that mimicked the “bro culture” of a fraternity.
After taking over, Khosrowshahi published a LinkedIn post spelling out Uber’s new cultural values , including, “We do the right thing. Period.” He added,"As we move away from an era of growth at all costs to one of responsible growth, our culture needs to evolve.”Khosrowshahi and Kalanick could not immediately be reached for comment for this story.
While Uber’s stock price has fallen since the company went public, it was still a cause for celebration for employees. Many own shares in the company that they could not easily cash in on before the company listed them on the stock market. Uber’s going public frees them to sell.
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