Uber: Softbank takes large stake in ride-hailing firm
Uber: Softbank takes large stake in ride-hailing firm
SoftBank Succeeds in Tender Offer for Large Stake in Uber
29 December, 2017, 02:24
The deal nevertheless sharply discounts Uber's value, which previous year was estimated at nearly $70 billion.
The Japanese telecommunications giant acquired about 15% of the company in the deal, which valued the the company at $48 billion and included an additional $1.25 billion to buy shares directly from the company.
In a process known as a tender offer, which allows outsiders to buy shares in a private company at a mutually agreed upon price, some Uber employees, executives and early investors sold off what amounted to a little more than a 17% stake in the company to a consortium of investors led by SoftBank, according to a source familiar with the transaction.
Benchmark, in return, agreed to put on hold its lawsuit against Kalanick over his control of the three board seats, with plans to drop the case if and when the SoftBank deal closes.
SoftBank said it planned to close the deal next month. While a 30 percent discount is not unusual in a transaction like this, it does reflect some concerns about how the company can move forward after a year of upheavel that has not totally abated.
Tim Cook gets a 46 percent pay raise in 2017
Camera IconApple Chief Executive Tim Cook posed for a selfie with customers during the debut of the iPhone X at an Apple Store. Adding $89.2 million in equity award , Cook brought home a whopping $ 102 million in 2017, minus compensations.
The shake-up was supported by Uber's new chief executive Dara Khosrowshahi, who has said he hopes to list Uber's shares publicly in 2019.
FILE PHOTO: A fleet of Uber's Ford Fusion self driving cars are shown in Pittsburgh, Pennsylvania, U.S. September 13, 2016.
FILE PHOTO - The Uber logo is seen on a screen in Singapore August 4, 2017. Employees and investors allegedly tendered shares representing 20% of the company. We have tremendous confidence in Uber's leadership and employees and are excited to support Uber as it continues to reinvent how people and goods are transported around the world.
SoftBank founder Masayoshi Son has taken a keen interest in ride-hailing companies around the world and already has sizeable stakes in China's Didi, Brazil-based 99, India's Ola and Singapore Grab, all of which have competed with Uber.
Uber and SoftBank announced a deal Thursday allowing the Japanese tech titan to take a large stake in the USA ridesharing giant, making a hefty cut in the valuation of the biggest venture-backed startup.
The investment comes after a year of troubles for Uber, including a lawsuit by Alphabet Inc's self-driving vehicle unit Waymo, that alleges trade secrets theft, and federal investigations that include possible bribery of foreign officials in Asian countries and the use of software to evade regulators.
Moore says that he took the polygraph test after the December 12 election, according to his affidavit, included in the complaint. Senate in Alabama in more than two decades, said he looks forward to working for his constituents in the new year.
As the show's co-creator, Reiser stressed that it was important to him that the show be brought back for a narrative objective . The role of Jamie Buchman was nearly played by Teri Hatcher, who went on to play Lois on Lois and Clark .
Mark Hamill took to Twitter to pay tribute to Alfie Curtis and remembered him as "funny and kind". "Rest in peace, Dr. Trinian's . 'As horrific as he was on-camera, off-camera he was amusing , kind & a real gentleman.
While there was no grand prize victor , one ticket sold in Georgia matched all five white numbers drawn to win $1 million. In this photo, a customer buys Powerball tickets at Kavanagh Liquor in San Lorenzo, California, Jan. 13, 2016.
Nintendo's own large games like The Legend of Zelda: Breath of the Wild and Super Mario Odyssey clock in well below 16 gigs. And if Nintendo is the only one supporting a console, you have a larger chance of getting a failure like the Wii U .
The four teens, ages 13 and 14, were allegedly seen leaving the area of the overpass after the incident, police said. They know right from wrong, and should be charged as adults, she said. "He's gone [and] he's never coming back".
President Akufo-Addo congratulated George Weah for finally winning the election at the second round and commended Mr. He won 38.4% of votes in the first round on 10 October, while his opponent Boakai came second with 28.8%.
An out-of-court settlement in which the city agreed to pay the Garner family $5.9 million was announced in 2015. After a video of Garner's death went viral, activists gathered across the nation to protest police brutality.
The outage has affected attractions inside two sections of Disneyland, Toon Town and Fantasyland, leaving guests stranded. She said there has been an issue with a transformer, and that teams were working on restoring power.
The attorney is also known for successfully defending former Texas Governor Rick Perry in an abuse-of-power case. Buzbee also recently made headlines for parking a World War II tank in his River Oaks neighborhood.
Assad's main ally Russian Federation also said on Wednesday the main battle with Islamic State in Syria was over. He said the U.S. military's longer-term objective would be to prevent the return of an "ISIS 2.0".
Preliminary numbers show total holiday sales will exceed RetailNext's initial forecast of a 3.8% increase from past year . Most US retail stocks have tumbled this year as they continued to lose sales to online stores, mainly Amazon.com Inc.
The Library of Congress to stop archiving all tweets from 2018
In addition, the Library's normal role is as a curator, preserving information that's thought to be most significant or valuable. But starting on the first of January, the archiving will become selective; only tweets that are deemed newsworthy will be kept.
Returning gifts may be harder than just keeping them
Amazon will let you return a gift for an Amazon gift card credit and won't tell the gift giver of your return plans. After you take care of the gifts you didn't want, it'll allow for time to enjoy those presents you do like.