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General

Softbank becomes largest shareholder in Uber

Friday 19 January 2018 | 17:24 CET | News
Softbank has become the largest stakeholder in Uber after cutting a deal that includes buying shares from existing Uber investors and employees, Reuters reported. The shares were bought by an investor group co-led by Softbank and Dragoneer and including Sequoia, at at discounted valuation of USD 48 billion, a 30 percent decline from Uber's most recent valuation of USD 68 billion. The secondary stock sales will be completed by the end of the day on 18 January, an Uber spokesperson said. The investor group also made a USD 1.25 billion investment at the higher valuation, the spokeperson added.

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Categories: General
Companies: Softbank / Sprint
Countries: World
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