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Uber ex-CEO Kalanick likely to sell 29% of stake for $1.4 billion

The former Uber CEO is still on the board of directors


Uber Technologies co-founder Travis Kalanick, who was ousted as chief executive in June, is selling nearly a third of his 10 percent stake in the ride-services company for about $1.4 billion, a person familiar with the matter said on Thursday. Kalanick’s sale is part of a deal struck by a consortium led by SoftBank Group Corp which is taking a 17.5 per cent stake in Uber, mostly by buying shares from early investors and employees. SoftBank last week secured agreements from shareholders who were willing to sell, and the deal will close early this year, Uber said. The SoftBank deal ...

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First Published: Sat, January 06 2018. 02:27 IST