Removed Uber CEO and prime supporter Travis Kalanick was constantly ridiculously wealthy on paper. Presently he’ll soon be swimming in greenbacks in all actuality.
Kalanick wants to offer 29% of his Uber stock — after long gloating that he had never surrendered one offer of the ride-hailing organization he helped begin in 2009 — to the cha-ching tune of $1.4 billion, as per a Bloomberg report Thursday refering to people comfortable with the issue.
The stock deal comes as Japanese venture firm SoftBank and a consortium of financial specialists gets ready in the not so distant future to purchase a revealed 15% of Uber at a valuation of $48 billion, or 30% not as much as a since quite a while ago referred to valuation of $69 billion.
Kalanick possesses 10% of Uber, now esteemed at $4.8 billion, and offered to offer as much as half of that stake, as indicated by Bloomberg.
Uber is currently facing a series of challenges from not having its license renewed in the busy city of London to facing intellectual property theft allegations. In any case, Mr. Kalanick just got richer and maybe looking to jump into other ventures.
Uber has been accused of pursuing very aggressive methods some of which may not be ethical according to critics. Google’s Waymo accused Uber of stealing its technology when it hired and ultimately fired Anthony Levandowski who himself was a Google engineer. Google created Waymo to be its independent autonomous cars division and since then they have partnered with Uber’s main rival Lyft to bring autonomous cars to public roads in the near future.
It was in the middle of all these that Uber hired Dara Khosrowshahi, former Expedia CEO to take over the reins of the embattled company. While Uber retains its dominance in the ride hailing field in the United States and probably the world, it’s beginning to get regional challengers and in the case of China, it has essentially been toppled by local rival Didi in whom Apple invested $1b.
Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
