- December 28th, 2017 – Sold a stake to an investor group led by Softbank
- There’s been a lot of swirl within the company so they’re trying to calm people down.
- They got 17.5% for $33 per share. This is at a $48 billion valuation which is lower than the previous $70 billion valuation.
- They plan on going public in 2019.
- “SoftBank will also purchase up to $1.25 billion worth of new shares at the existing valuation of $67.5 billion.”
- January 4, 2017 – Travis Kalanick is selling 29% of his stake in Uber
- January 5, 2017 – Benchmark is selling $900M of it’s holdings to Softbank
- They wanted to sell more.
- “GV, which owned 5 percent of the company, successfully sold about 14.5 percent of their stock.”
- Jan 18, 2017 – The Uber Softbank deal has closed.
- The Next Web
- Uber’s restaurant delivery business UberEats is incredibly profitable
- They just got a credit card so they could get restaurant purchase data
- They’ve built ghost restaurants in order to increase margins vs giving that money to another restaurant