Investors take Uber stake

A consortium led by Japan’s Softbank is to buy a $9.3bn holding in Uber from existing shareholders.

Reports suggest Uber co-founder, Travis Kalanick who stepped down as chief executive in June last year, is selling $1.4bn worth of his own shares. Kalanick remains a director at the company and the sale represents less than a third of his holding – meaning he still has a stake that’s worth circa $3bn.

Of that $9.3bn, about $1.3bn is a cash investment in new shares, with the rest going to existing Uber investors.

Uber called the deal a ‘great outcome for our shareholders, employees and customers, strengthening Uber’s governance as we double down on our technology investments and continue to bring our services to more people in more places around the world’.

Softbank, which is already an Uber investor, said it was ‘very pleased’ with the deal and looked forward to ‘helping Uber become an even bigger global success’.