Travis Kalanick sells 20% of his stake in Uber worth $547 million

Travis Kalanick sold about 20 per cent of his stake in Uber Technologies Inc. last week.

Kalanick, 43, a director at the ride-hailing company, sold 20.3 million shares worth about $547 million that were held in a trust, according to a regulatory filing on Friday.

The trades came after a 180-day lockup period restricting insider and early investor sales following May’s initial public offering. They were among the large stake disposals last week that pushed the stock down to an all-time low.

Uber has underwhelmed investors in the public markets so far. Its shares fell 2.2 per cent to $26.42