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For Uber, a quiet investor becomes a sudden thorn

Benchmark invested in Uber in 2011, putting in an initial $12 mn at a valuation of around $60 mn

Katie Benner | NYT 

For the past week, Uber’s board members have been embroiled in conversations over a thorny question: what to do about Benchmark, the venture capital firm that is one of the ride-hailing company’s largest shareholders. While Benchmark had long supported Uber’s management, the investor had recently turned against the company’s top echelons. In June, Benchmark helped oust Uber’s co-founder, Travis Kalanick, as chief executive. Last week, the firm escalated its actions against Mr. Kalanick by suing him for fraud and saying he should be removed from ...

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First Published: Mon, August 21 2017. 10:20 IST
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