SoftBank's acquisition of 15 percent of Uber closes

January 18, 2018

Japanese technology conglomerate SoftBank says it has closed a deal to acquire 15 percent of Uber.

As part of the deal, investors led by SoftBank Group Corp. and Dragoneer Investment Group will sink about $9 billion into the ride-hailing company, including about $1.25 billion in new shares.

Uber is hoping the deal helps it move past recent internal strife and strengthens the position of CEO Dara Khosrowshahi. San Francisco-based Uber has been mired in controversy for an assortment of missteps in the past year, including allegations of and charges that it deployed an espionage team to plunder from its rivals.

The investment deal clears the way for Uber, among the most valuable tech firms in the world, to sell stock to the public in 2019.

Explore further: SoftBank group acquires major stake in Uber

Related Stories

SoftBank group acquires major stake in Uber

December 29, 2017

A group led by Japanese technology conglomerate Softbank has acquired a major stake in Uber, potentially tamping down internal warfare at the troubled ride-hailing company and strengthening the hand of CEO Dara Khosrowshahi ...

Two big Uber investors agree to sell shares in SoftBank deal

November 29, 2017

At least two big Uber stakeholders have agreed to sell part of their private shares to a group led by Japanese technology conglomerate SoftBank in a deal that lets investors cash out at a discount and could bring management ...

Uber IPO 'target' is 2019: CEO

November 9, 2017

Uber is on track for a 2019 public stock offering and the plan is not dependent on new funding from Japan's SoftBank, the global ride-sharing giant's CEO said Thursday.

Uber comes of age with SoftBank tieup

November 14, 2017

Uber's tieup with Japanese tech giant SoftBank suggests the ridesharing giant is set to come of age in the business world, but it still faces a long road ahead.

Recommended for you

Technology near for real-time TV political fact checks

January 18, 2019

A Duke University team expects to have a product available for election year that will allow television networks to offer real-time fact checks onscreen when a politician makes a questionable claim during a speech or debate.

Privacy becomes a selling point at tech show

January 7, 2019

Apple is not among the exhibitors at the 2019 Consumer Electronics Show, but that didn't prevent the iPhone maker from sending a message to attendees on a large billboard.

China's Huawei unveils chip for global big data market

January 7, 2019

Huawei Technologies Ltd. showed off a new processor chip for data centers and cloud computing Monday, expanding into new and growing markets despite Western warnings the company might be a security risk.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.