Travis Kalanick is going to sell 29% of his stake in Uber to Softbank - Rickey J. White, Jr. | RJW™
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Travis Kalanick is going to sell 29% of his stake in Uber to Softbank

05 Jan Travis Kalanick is going to sell 29% of his stake in Uber to Softbank

Posted at 05:51h in Popular Newsfeed by
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The sale will see the former Uber CEO reap around $1.4 billion in in profit, reports Bloomberg. The purchase by Softbank and a group of other investors means Uber will have a valuation of around $48 billion now. For Kalanick it means he’ll become a billionaire for the first time. Before the sale, Kalanick owned 10% of Uber and Bloomberg’s report says he was willing to sell as much as 50% of his stock, but company limits forced him to pare back the amount.


Source: Fast Company

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