Uber board makes peace to clear way for Softbank investment

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Uber pave way for SoftBank investment deal SEAHORSEGEOCITY LINEAGE

- seadavid.blogspot.com.ng
13 Nov 2017
Uber Technologies Inc's warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group Corp to proceed, and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.

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13 Nov 2017
SAN FRANCISCO/NEW YORK - Uber Technologies Inc's warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group Corp to proceed, and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.
- investmentguruindia.com

Uber approves SoftBank's 10 billion investment offer

- bgr.in
13 Nov 2017
Under the agreement, a consortium of investors led by SoftBank will buy at least 14 percent of Uber. The investment would dilute the stake of Benchmark Capital, one of Uber's key investors until now and one that is locked in a bitter court battle with it over allegations of mistrust involving former CEO Travis Kalanick. However, once the SoftBank deal goes through, ...

Probably Lands The Softbank Deal

13 Nov 2017
Uber has signed an investment agreement with a consortium led by SoftBank and Dragoneer Investment Group. The deal, which is said to value Uber around $70 billion, will reportedly include a direct investment into Uber of about $1 billion, along with the purchase of stock from employees and other shareholders valued at up to $9 billion, TechCrunch reports .
- news.crunchbase.com

Uber Is Close to Deal to Sell Stake to SoftBank

- viportal.co
13 Nov 2017
The agreement follows an Oct. 3 Uber board meeting, in which directors voted to move forward with an investment from SoftBank. As part of the deal, Uber's board agreed to carry out a set of sweeping governance changes , including measures that reduce the influence that Travis Kalanick, Uber's former chief executive, has at the company. He still has a seat on the company's ...

It hasn't happened yet

13 Nov 2017
In early October, Uber's board agreed to move forward with talks of a multibillion-dollar deal to give Japan's Softbank a roughly 20% stake. But the deal has yet to materialize mainly due to disagreements over the price. Earlier this week, SoftBank CEO Masayoshi Son suggested that SoftBank could still pull out of the investment at the last minute and decide to back Uber's ...
- businessinsider.com

Uber Board Members Put Aside Differences to Accept Giant Sack of Investment Cash

- technewstube.com
13 Nov 2017
Uber has struck a multi-billion dollar deal led by investment companies Softbank and Dragoneer. The agreement will not only give SoftBank a major stake in Uber--it is looking to buy up at least 14% of the company--but it will help put a rest to one of the many ongoing battles for new CEO Dara...

After investing in Ola, Japan based SoftBank will buy major stakes in Uber

13 Nov 2017
The agreement comes in the wake of a board meeting, in which directors voted to move forward with an investment from SoftBank. As part of the deal, Uber's board agreed to major governance changes, including curbing the powers vested in former CEO Travis Kalanick, on account of his position on the company's board.
- dnaindia.com

SoftBank seals deal to make 1 billion investment in Uber, buy shares from investors

- japantimes.co.jp
13 Nov 2017
Kalanick, who controls 3 of 11 seats on the Uber board, agreed to allow a majority of board members to vote on any future appointments he makes, according to the person. Benchmark agreed to suspend a lawsuit against Kalanick and drop it once Softbank gets through a one-month tender offer period that will start in about two weeks. Benchmark, a major Silicon Valley venture ...

Uber agrees to move forward with massive SoftBank investment

13 Nov 2017
"By no means is our investment decided," Rajeev Misra, CEO of SoftBank Investment Advisors and a Board Director of SoftBank Group Corp, said in a statement provided to CNNMoney. "We are interested in Uber but the final deal will depend on the tender price and a minimum percentage shareholding for SoftBank."
- money.cnn.com

Billion Dollar Investment Offer

- bloomberg.com
13 Nov 2017
SoftBank, along with Dragoneer Investment Group and General Atlantic, are expected to invest at least $1 billion in Uber and purchase up to $9 billion worth of Uber shares from existing investors. The initial price for the tender offer may not be set for more than a week, a person familiar with the matter said. SoftBank is expected to buy shares from Uber at the company's ...

Dollar investment from Softbank, Technology News, ETtech

13 Nov 2017
Uber confirmed the investment in a statement on Sunday without giving details. But a person briefed on the deal told The Associated Press that SoftBank Group will buy about $1 billion worth of new Uber stock, then will offer to purchase shares from investors and Uber employees with the goal of reaching a 14% stake in the company.
- tech.economictimes.indiatimes....

Uber Set to Announce Major Investment Led by SoftBank Group

- wsj.com
13 Nov 2017
Uber Technologies Inc. cleared the way for a multibillion-dollar investment led by SoftBank Group Corp. that will transform the corporate structure of the world's most valuable startup and give the ride-hailing company a powerful ally in its battle against global rivals.

What SoftBank's 10b investment in Uber means for its battle with Ola

13 Nov 2017
SoftBank adds new twist to Ola-Uber rivalry Ola to bank on local innovations to compete with Uber's West-centric model Flipkart, Paytm own 60% of their markets: SoftBank's Masayoshi Son Masayoshi Son goes on data binge with SoftBank's $100-bn vision Fund SoftBank CEO Masayoshi Son says interested in investing in Uber, Lyft
- business-standard.com

Flipboard on Flipboard

- flipboard.com
13 Nov 2017
SoftBank plans to lead a $1 billion investment directly in the company alongside Dragoneer Investment Group. The joint venture will also buy up to $9 billion of shares from eligible existing shareholders in a tender offer. Private equity firm General Atlantic is also participating.

Billion dollar SoftBank investment

13 Nov 2017
Uber is valued at $68 billion, the most highly valued venture-backed company in the world. SoftBank's roughly $1 billion investment of fresh funding is expected to be at the same valuation. The secondary transaction, or the purchases from employees and existing investors, would be at a lower valuation.
- tahawultech.com

Uber's board reaches deal allowing 10B SoftBank investment

- cnet.com
13 Nov 2017
The agreement resolves a legal battle between Uber cofounder and former CEO Travis Kalanick and Benchmark Capital, one of the startup's early investors, Reuters reported Sunday. Benchmark Capital, which owns about 13 percent of Uber, sued Kalanick in August, alleging that Kalanick misled Uber's stockholders to gain control of three board seats.

Uber is definitely not happy with Travis Kalanick's board appointments

13 Nov 2017
Uber's board is set to vote on a plan to revamp Uber's corporate governance next week. That could minimize some of the control Kalanick and Benchmark, as early investors, still hold over the company. Potential reforms could also make it more difficult for Kalanick to ever return as CEO.
- mashable.com

SoftBank to plough billions into Uber

- zdnet.com
13 Nov 2017
Filed in August, the suit alleged Uber's former CEO and co-founder Travis Kalanick was trying to pack Uber's board with his allies and eventually return to his post as CEO, with Benchmark claiming doing so would harm Uber's shareholders, employees, drivers, and customers.

Dollar investment from Softbank

13 Nov 2017
But a person briefed on the deal told The Associated Press that SoftBank Group will buy about $1 billion worth of new Uber stock, then will offer to purchase shares from investors and Uber employees with the goal of reaching a 14 percent stake in the company. Uber currently is valued at $68.5 billion, but stock offers will be based on a lower valuation, so it's unknown ...
- wane.com

Hailing Family Sibling Rivalries Abound

- newssummedup.com
13 Nov 2017
SoftBank Group Corp.'s bid to take a stake of as much as $10 billion in Uber Technologies Inc. is a high-stakes bet on the future of the car industry. SoftBank's billionaire founder, Masayoshi Son, aims to build a global network of ride-hailing companies with a lock on important markets that in the next 20 or 30 years could control fleets of vehicles and help dictate how ...

Uber clears the way for SoftBank investment

13 Nov 2017
Meanwhile, SoftBank has been diversifying through investment for several years, and has ventured into sectors outside its core mobile technology business -- completing deals with the likes of French robotics firm Aldebaran and e-commerce with Chinese giant Alibaba.
- nixusblog.com

SoftBank Group to invest 1bn in the ride

- firstpost.com
13 Nov 2017
The long-awaited deal was made public in October but was delayed by a corporate governance and legal dispute between investor Benchmark Capital and ousted CEO Travis Kalanick . Both sides ended their feud on Sunday, clearing the way for the SoftBank investment, the person said.

SoftBank agrees massive multibillion

13 Nov 2017
Another hurdle is that Uber's biggest investor, Benchmark Capital, has a lawsuit against former CEO Travis Kalanick over the appointment of three board seats, including his own. In a so-called "peace deal", Benchmark said it will drop the suit if the deal goes ahead.
- siliconrepublic.com

Billion dollars investment in Uber

- entrackr.com
13 Nov 2017
"Depending on the price and conditions, it is wholly possible we could shift our investment to the other main company Lyft. It is wholly possible. We won't know until the very end," said Son, at a press conference following SoftBank's second-quarter earnings Monday last week.

Led 1 Billion Investment Round

13 Nov 2017
CNBC reports that a SoftBank-led consortium of investors seeks to buy $1 billion worth of fresh stock in Uber at its current valuation of about $68.5 billion, and that the ride-hailing company was close to being ready on Sunday to finalize the deal. The deal will see 14 percent of the company change hands.
- 1reddrop.com
#BenchmarkCapital      #CeoTravisKalanick      #DragoneerInvestmentGroup      #SiliconValley     
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