1. 2 big Uber investors agree to sell shares in SoftBank deal

2 big Uber investors agree to sell shares in SoftBank deal

At least two big Uber stakeholders have agreed to sell part of their shares to a group led by Japanese conglomerate SoftBank.

By: | Detroit | Published: November 30, 2017 2:47 AM
SoftBank, japan, Uber Technologies Inc,Travis Kalanick Kalanick, chin adidi, India, ola, Masayoshi Son,  artifical intelligence SoftBank’s offer was expected to be based on a reduced valuation of Uber.

At least two big Uber stakeholders have agreed to sell part of their shares to a group led by Japanese conglomerate SoftBank. It’s a deal that lets investors cash out and could bring management stability to the troubled ride-hailing company. SoftBank said in a statement Wednesday that Benchmark Capital, Menlo Ventures and other early investors have confirmed intent to sell shares. SoftBank’s offer was expected to be based on a reduced valuation of Uber. The company had been valued at $68.5 billion in a previous stock sale. SoftBank and Dragoneer Investment Group want to buy at least 13.4 percent of Uber. They’re also sinking $1 billion into the company. Messages were left seeking comment from Uber, Benchmark and Menlo Ventures.

 

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top