Uber' head of finance Gautam Gupta joins the long list of departures

While Uber is relentlessly trying to hunt a new Chief Operating Officer, a new departure has joined the long list of the top-level executive exits. Gautam Gupta, the finance head has decided to quit Uber and join an unnamed San Francisco startup as chief operating officer.

Gupta was appointed in 2015 as the head of finance. Before this position, he was leading Uber’s business operations and finance for two years after serving as a vice president at Goldman Sachs.

CEO Travis Kalanick wrote in an emailed statement, “Gautam is a world-class financial talent. Over the last four years, he has been indispensable in helping build Uber from an idea into the business it is today. We couldn’t have done it without him, and I will miss his energy, focus and infectious enthusiasm. All of us at Uber wish him well in this next challenge.”

Gupta is the latest top-level executive to leave Uber. Other recent notable departures include president of ride-sharing Jeff Jones, who quit in March, vice president of engineering Amit Singhal and vice president of product Ed Baker.

Though Uber’s troubles have been piling up continuously with departures, sexual harassment case, a lawsuit case filed by Waymo, one more lawsuit filed by Lyft, the company has been able to keep a control on its revenue losses. As per the Wall Street Journal report, the company lost $708 million in the first three months of the year, compared to the $991 million it lost in the last quarter of 2016.

The company also reported increasing revenue, up 18 percent from the end of 2016.

"The results demonstrate that our business remains healthy and resilient as we focus on improving our culture, management and relationship with drivers," an Uber spokesman said, according to the New York Times. "The narrowing of our losses in the first quarter puts us on a good trajectory towards profitability."

However, there is no need Uber to post earnings report as it is still a private company. But as per the reports, the company is expected to go for initial public offering as soon as next year.