29 December, 2017
Sources familiar with the matter told The Wall Street Journal on Thursday that Uber employees and investors have tendered shares equal to around 20 percent of the company. Last month, Uber disclosed that it had covered up a security breach that had compromised the personal data of 57 million rider and driver accounts, and SoftBank was able to talk down the price of its investment. Uber will enact governance reforms that disempower the two warring factions and increase the size of the board to a massive 17 people. SoftBank, which is heavily invested in other ride-hailing companies around the globe, could help Uber strike more partnership deals, especially in Asia. The bid placed a 30 percent discount on Uber compared to its 2014 valuation of $68.5 billion which made it the world's most valuable startup, with SoftBank also agreeing to inject $1 billion into the company at its old valuation in an attempt to avoid a scenario in which the firm is severely devalued as a result of the move.
SoftBank has bought a major stake in Uber at a steep 30pc discount, after a chaotic year in which the ride-hailing firm faced a string of scandals, saw its chief executive resign and was hit with United Kingdom city bans.
Uber's board of directors, which had devolved into a power struggle between Uber's former CEO, Travis Kalanick, and its largest investor, Benchmark, will now likely be calmer.
Trump Loses Most Admired Man Title to Predecessor
While Obama managed to be at the top for a 10th year, he has some way to go to match his female counterpart, Hillary Clinton . Obama is only the second former president to finish first in the list-along with Eisenhower in 1967 and 1968, while Pres.
Apple admits to slowing iPhones, you're not imagining it
One of the main reasons people buy iPhones is that they don't slow down or lag with time like some Samsung devices. Apple has been criticised for failing to make users aware of the practice before this week.
Trump blamed for cancellation of Christmas in Nazareth
Brotherly covenant referred to Salam's announcement as a "cynical move to take advantage of Christian residents", TPS reported. Mr Trump's decision to recognise Jerusalem as Israel's capital city, was a significant United States policy change.
The deal will also benefit Uber's employees, drivers and riders, said Chris Sacca, founder and head of Lowercase Capital, a major Uber shareholder that did not sell shares in SoftBank's tender offer.
Mr. Khosrowshahi also said he wanted to take Uber public by 2019, and investors wondered if the company could maintain its valuation as it prepared for an initial offering of shares. Still, $48 billion is very different than $70 billion.