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Thursday, January 18, 2018
SoftBank Becomes Uber's Largest Shareholder


Uber Technologies completed its deal with SoftBank Group, making the Japanese conglomerate the largest shareholder.

Uber shareholders sold about $8 billion to a group of investors led by SoftBank. SoftBank also invested $1.25 billion directly into Uber at a valuation of about $70 billion, the same as 2016.

As part of th edeal, Uber will create additional board seats, expanding the total to 17 . SoftBank intends to name one of its executives, Rajeev Misra, as well as Sprint Chief Executive Officer Marcelo Claure to the board.

The SoftBank investment is a victory for Uber's new CEO, Dara Khosrowshahi, who took over in September.



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