Despite pressure to fire Uber executive Emil Michael after his controversial remarks surfaced this week, at least two investors in the company and CEO Travis Kalanick are still firmly behind him, according to a new report.
Bloomberg reported on Friday that Michael was integral to Uber's financing round in June that valued it at $17 billion, as well as in the company's deal with Spotify.
“I’m not surprised they haven’t fired him,” Michael's previous boss and Klout CEO Joe Fernandez told the news service. “The Uber board has known him for 10 years and Travis knows him well. They know what Emil is really about, and I’m glad they didn’t make a rushed decision under a huge amount of pressure.”
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BuzzFeed reported on Monday that Michael suggested during what he thought was an off-the-record dinner last week that Uber should hire "opposition researchers" to dig up dirt on journalists who oppose his company to the tune of $1 million, naming Pando Daily editor-in-chief Sarah Lacy in particular. Michael later apologized. On Tuesday, Kalanick took to Twitter to address the situation, calling Michael's remarks "terrible," and apologizing to Lacy. Kalanick didn't fire Michael.
In what looks like an attempt to appease investors, Uber also leaked details of its financials to Business Insider Thursday night, revealing that the annual run rate (extrapolated future performance) in Uber's top five markets -- New York, San Francisco, Chicago, Los Angeles and Washington, D.C. -- was $1 billion for 2014, based on December 2013 data. The company also generated $11 million in one day -- Dec. 31, 2013 -- across 60 markets. From New Year's Eve 2012 to New Year's Eve 2013, Uber also grew 369%.
Uber did not immediately respond to a request for comment.