Uber’s valuation may be looking at a haircut — Japan’s SoftBank is officially offering to purchase shares of the firm at a US$48 billion valuation. That is a 30% discount off of Uber’s most recent valuation of $68.5 billion, a person familiar with the matter said on Monday, November 27.
That discount investment won’t just signal a value drop for Silicon Valley’s most famous startup, according to reports in Reuters — the funds will also set off a series of governance changes at Uber that would limit some early shareholders’ voting power and expand the board from 11 to 17 directors.
Both moves would greatly curtail the power and influence of former Chief Executive Travis Kalanick.
Uber’s new CEO, Dara Khosrowshahi, is reportedly supportive of both the investment and the changes it will tip off — though it does come as a somewhat bitter coda on a year of scandals and change for Uber. Some of those scandals involved the treatment of female engineers within the firm, the complex and dramatic exit of Mr. Kalanik and the reveal last week that Uber went out of its way to cover over a hack.
Full Content: PYMNTS
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI