Scandals and growing competition have contributed to the declining value of the transportation network company.
"Numerous outlets had reported in the fall that the company’s valuation would take a hit, after a year that began with a boycott and continued with a gauntlet of scandals that culminated in the replacement of founder and CEO Travis Kalanick with Dara Khosrowshahi," Heny Grabar writes for Slate. Some analysts speculate the loss of valuation stems from a changing competitive and regulatory landscape rather than the company's scandals but, whatever the cause, a change of 30% is a big one.
Grabar writes, "A $48 billion company is nothing to sneeze at, of course. But the prospect of one company at the helm of a profitable, global transportation empire just isn’t looking as likely now as it did at the end of 2015."
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