Uber lost one of its investors Goldman Sachs
One of Uber’s key investors, Goldman-Sachs has sold off its holding in the cab-hailing company, in December 2019. Till then, it held 10 million shares in Uber. In July 2019, Uber was forced to downsize its marketing departments across 75 branches. Uber’s CEO and CMO also stepped down from their responsibilities. Goldman-Sachs was disappointed in Uber’s performance in the stock market and decided to sell off the holdings.