*By Michael Teich*
Uber has spent millions of dollars on an ad campaign in which its chief executive, Dara Khosrowshahi, tries to win back customers' trust after the ride-hailing company was beset by scandals and a slumping reputation.
The ad was a departure for Uber, but a necessary one because "we're in an environment where people want to hate," said the Wall Street Journal reporter Suzanne Vranica.
Uber, Wells Fargo and Facebook, which all endured a backlash from customers related to corporate missteps, have spent more than $60 million recently to protect their public image, according to research from iSpot.
"You can’t discount trust," said Vranica in an interview Thursday with Cheddar. And though users may still be logging on to Facebook, their behavior could change as they lose faith in the platform.
"Long term, it will impede ability to attract advertising dollars," she said. "It takes a long time to evaluate to see if it's a problem. That's why they need to spend so much money."
The social media company's stock plummeted after it was reported that it failed to protect the private data of 87 million users exposed in the Cambridge Analytica data scandal. Facebook shares climbed back near all-time highs as investors' concerns appeared to wane after the company reported user growth in its last quarterly earnings that appeared to be unaffected by the scandal.
Vranica still warned, these are "long-term problems that could eat away at your brand" and "overall brand health really matters."
For the full interview, [click here](https://cheddar.com/videos/the-cost-of-regaining-customer-trust).
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Aurimas Sabulis, CEO of Dextall, unveils how AI‑driven prefabricated façades slash design time by 80%, labor by 87%, and accelerate affordable housing delivery.
Online broker Robinhood Markets will join the S&P 500 index Online broker Robinhood Markets will join the S&P 500 index as its stock rides higher on a cryptocurrency wave.
