🚖Uber agrees investment deal with SoftBank.
A group of investors led by SoftBank is taking a large stake in Uber in a deal that will leave the ride-hailing firm’s co-founder an official billionaire.
Uber said it has closed the deal with the consortium, which is purchasing $1.25bn in new shares and a large number from existing shareholders.
Uber co-founder Travis Kalanick, who stepped down as chief executive in June, is reportedly one of the sellers.
The consortium will have a 17.5% stake in the company.
The transaction is valued at more than $8bn. As part of the deal, Uber’s board has expanded from 11 to 17 directors, with Softbank’s investor group taking two of the new seats.
BBC News
http://www.bbc.com/news/business-42740680
Uber deal with SoftBank closes