Co-Founder of Uber plans to sell 29% of his stake
Former CEO of Uber, Travis Kalanick, aims to sell 29% of his stake in the industry disrupting ride-sharing app. Kalanick currently holds 10% of the company, and offered to sell up to half of his shares. The deal will net Kalanick around $1.4 billion in the sale to SoftBank Group Corp. and a group of unnamed investors. Once complete, the sale will make Kalanick officially a billionaire for the first time. Last year, Kalanick stepped down as CEO when public controversy and governmental investigations focused on how Uber is operated.
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