Taxi-hailing company Uber has said it's struck a deal that may eventually lead to a massive investment in the company by a consortium led by Japanese conglomerate SoftBank and Dragoneer of San Francisco.
The group led by SoftBank and Dragoneer Investment Group is also planning to invest a much larger amount by buying up to $9 billion in Uber shares. Sources are of the matter says that Uber has purchased shares worth $1 billion at a last private valuation of around $70 billion.
China's Tencent is also reportedly interested in buying a stake in Uber.
LDF meet entrusts CM to decide on Chandy's resignation
Meanwhile, CPI state secretary Kanam Rajendran said the state government would take an appropriate decision on the issue. Chandy has already become the symbol of political arrogance and power abuse in Kerala.
In a statement, Uber said that the deal is a vote of confidence in the company's potential and "will help fuel our investments in technology and our continued expansion at home and overseas, while strengthening our corporate governance". "Upon closing, it will help fuel our investments in technology and our continued expansion at home and overseas, while strengthening our corporate governance".
Back in August, Benchmark, which holds about 13 percent of the company's stock sued former CEO Travis Kalanick in August 2017, accusing him of "gross mismanagement and misconduct" during his tenure at chief executive.
SoftBank did not immediately respond to a request for comment. Uber investor Benchmark agreed to drop its fraud lawsuit against Kalanick if the Softbank deal goes through. In return, Kalanick will allow board directors to vote on his selected board appointees in the future, according to the Wall Street Journal.
Rajasthan police arrests 1 'gau rakshak' for killing man transporting cows
The Rajasthan police later gave a clean chit to the six assailants he had named in his dying declaration. His fellow passenger, Tahir, is being treated at a private hospital in neighbouring Haryana.
According to Fortune, Kalanick, who still controls three board seats, including his own. Son has spearheaded the new round of investment in Uber.
Ride-sharing company Uber announced a deal to sell a stake to Japan's SoftBank as the firm looked to turn a new page ahead of its planned IPO in 2019.
New cars come equipped with safety systems. No worries. There are plenty of auto safety features that are available, affordably, for ALL cars, not just new ones.
Retail inflation at seven-month high driven by food and fuel prices
Data released by Central Statistics Office showed that inflation in urban India , at 3.81%, was higher than that in rural India, at 3.36%.
- Carbon dioxide emissions rose in 2017 after three flat years
- Small retailers looking to get in on Black Friday 2017
- Lukaku: 'Ibrahimovic return will revive our title hopes'
- Alex Azar unveiled as Trump's pick for health secretary
- Packers top Bears for first win without Rodgers
- Morocco book World Cup place for first time in two decades
- Poland, 22 other European Union members sign defence pact
- Texas College Apartment Party Causes Floor to Collapse
- Lebanon president says Hariri's government remains in place
- South Africa's Zuma says has no plans to announce free education programme