Former Uber CEO Travis Kalanick is reportedly planning
to sell off $1.4 billion worth of shares in Uber to
SoftBank recently negotiated a deal to buy up Uber
shares from investors and employees at a 30% discount, in a
deal valuing the startup at $48 billion.
Kalanick had long boasted that he had never sold any
Uber equity, ever.
Former Uber CEO Travis Kalanick is planning to sell 29% of his
shares in the car-ride company in a deal valued at about $1.4
long boasted that he had never sold any of his equity in
Uber. Now, he’ll be selling to SoftBank, which recently
closed a deal to
buy about 15% of a stake in Uber at a 30% discount, in a deal
valuing the startup at $48 billion.
Much of SoftBank’s stake came from buying shares from earlier
Uber investors and employees — including, it seems, Kalanick
stepped down as Uber CEO in June 2017 following a period of
bombshell revelations about corporate culture and the company’s
questionable moves to undercut competitors. He was succeeded in
August by former Expedia CEO Dara Khosrowshahi.
Uber declined to comment for this story.