Uber is the Amazon of transportation: Shervin Pishevar

Channel: Fox Business
Published: 05/09/2019 03:14 PM

Angel investor Shervin Pishevar on the outlook for Uber. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in Oct...

Welcome back and i'm back with angel investor, the co-founder of so free capital, shervin pisha, var sherman. I said earlier that you're the american dream, because your father was a taxi driver and now and then you were one of the early investors in in uber, which is gon na, obviously change everything, your entry price, the stock that you bought of uber, was thirty, five Cents about thirty five ...
ents, that's incredible! Now, they're looking to price it tonight, between 45 and 50, probably gon na be around forty seven dollars a share. You got to be feeling so great with it that you're gon na be cashing out of it. Well, it's a big milestone for the company and theteam wish, the best to daraa and and and and really i'm thinking, a lot about. You know travis and his dad and then thinking about the early team. Why? What'S the viability of uber, i mean that the driver issues is one thing. People worry about that they don't do enough due diligence, some drivers, you had some serious situations on a handful of times. What'S the case to buy uber when it goes public. I think the the thesis is around the idea that transportation is so much bigger than many people realize that we're talking about trillions of dollars in the economy's in the world and the inefficiency and the quality of the product. If we rememberwhat, the quality of taxi services were and are in the world when you enter a city and doesn't have uber, which is rare now it feels like you, don't have a cell phone connected to you know lte. So it worried, though, that it's the profitability is, i mean, look at look at. Look at.

You know lyft having lost a billion dollars. When are you gon na start, seeing sustained profitability at over? I brought i brought bezos into bourbon in that initial round. Back in 2011 and and was lucky to be able to talk to him over over time and i think of uber very much as the amazon of transportation, something that dhara and the companyare saying as well. Amazon, as you know, wasn't profitable for years and years, because bezos had a vision of transforming commerce in the world and he has, and uber is doing that for transportation and logistics and give it the next five years. Ten years i could see the company you know going from 50 billion gross was 1. 8 million revenue when we invested yeah in 7,000 cars. Now it's 50 billion gross revenue. Ubereats is you know 10 billion and that's grown since 2015 when it was launched. You know compared to lift, i think i think mcdonald's. You know i would bet the mcdonald's revenue on uber eats is bigger than all of lifts revenue, so youcan kind of think of that scale and what a platform that uber has built all around the world, and now they can launch all kinds of new technologies and Services on that platform very similar to amazon aws, but for transportation, really interesting, you're coming back tomorrow. So we're excited to have you tomorrow as well, so that we could look at how the deal was priced and what you're expecting and tomorrow, when you come back, we've got to talk about some of your other deals, because you've got some six or seven companies that You own that may be going public this year. Yeah hoover is my first one and it looks like after patiently investing it'llbe about seven more ipos this year, airbnb slack, maybe warby parker will say all right, we'll talk about that tomorrow, okay, chef and pitch department to see you thank you so much gratulations wow.

What a! What a deal!.

Watch Next