Beyond retention and to help staff cover tax bills triggered when RSUs vest, they relieve pressure on management to pursue an IPO before the company is ready.
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Michael returned to Silicon Valley where, following a brief run at social media analytics company Klout, he joined Uber in 2013 as chief business officer and a close lieutenant to CEO Travis Kalanick. Over the next four years, he helped orchestrate one of the most aggressive expansions in corporate history, in which Uber raised nearly $15 billion and saw its valuation soar to roughly $70 billion.