Uber Appoints New CFO Amid Accelerated Autonomous Vehicle Initiatives
Uber Technologies Inc. has announced the promotion of Balaji Krishnamurthy, formerly Vice President of Strategic Finance and Investor Relations, to the position of Chief Financial Officer (CFO). Krishnamurthy succeeds Prashanth Mahendra-Rajah, who is stepping down after a three-year tenure.
With over six years at Uber, Krishnamurthy has been instrumental in shaping the company’s financial strategies and investor relations. His active involvement in Uber’s autonomous ride-hailing initiatives and his board membership at autonomous vehicle (AV) company Waabi underscore his commitment to the sector. This appointment signals Uber’s intensified focus on expanding its driverless technology investments and operations.
During Uber’s fourth-quarter earnings call, Krishnamurthy outlined the company’s strategic plans to invest in AV software partners, collaborate with AV manufacturers through equity investments or offtake agreements, and support AV infrastructure partners. He emphasized Uber’s disciplined approach to leveraging its substantial free cash flows to position the company as a leader in the autonomous vehicle future.
CEO Dara Khosrowshahi expressed confidence in the transformative potential of autonomous vehicles, describing them as a multitrillion-dollar opportunity that amplifies Uber’s platform strengths. He projected that by the end of 2026, Uber aims to facilitate AV trips in up to 15 cities worldwide, evenly split between U.S. and international locations. By 2029, the company aspires to become the largest facilitator of AV trips globally.
Over the past two years, Uber has established partnerships with more than 20 autonomous vehicle companies across various applications, including sidewalk delivery robots, robotaxis, and trucking. Notably, Uber collaborates with Waymo for shared robotaxi operations in Atlanta and Austin. Other partnerships include Avride, UK-based Wayve, and Chinese companies WeRide, Momenta, and Volkswagen.
In addition to partnerships, Uber has made direct investments in AV startups. Waabi recently announced a $750 million Series C funding round, with Uber contributing up to an additional $250 million contingent upon achieving certain milestones. This investment aims to support the deployment of over 25,000 robotaxis on Uber’s platform. Uber has also invested in Silicon Valley-based Nuro and Lucid as part of a deal to launch a premium robotaxi service.
Uber’s revenue rose to $14.37 billion in the fourth quarter, marking a 20% increase from the previous year, driven by strong demand for its food delivery services.
