Generic selectors
Exact matches only
Search in title
Search in content
Facebook Fanpage
Twitter Feed
621 Following
Update Your Windows OS Today As “FRAG” Attacks Threaten WiFi Devices https://t.co/d9CnlxXZTt via @techbooky https://t.co/U2u6a460CH
18 hours ago
Tesla Will Stop Accepting Bitcoin On Environmental Concerns, Both Bitcoin And Tesla Tank https://t.co/alj0XSPys7 vi… https://t.co/k091BqlM8W
18 hours ago
How To Ensure Your New Business Website Is A Truly Worthy Investment https://t.co/CpzfJ6cv5O via @techbooky https://t.co/Eq9HGMJybc
Why Your New Company Might Want Software Development Help https://t.co/E3n2iVIhFV via @techbooky https://t.co/uVqcBXPQFE
Browse By Categories

Former Uber CEO To Sell Some Stock To Become A Billionaire


Removed Uber CEO and prime supporter Travis Kalanick was constantly ridiculously wealthy on paper. Presently he’ll soon be swimming in greenbacks in all actuality.

Kalanick wants to offer 29% of his Uber stock — after long gloating that he had never surrendered one offer of the ride-hailing organization he helped begin in 2009 — to the cha-ching tune of $1.4 billion, as per a Bloomberg report Thursday refering to people comfortable with the issue.

The stock deal comes as Japanese venture firm SoftBank and a consortium of financial specialists gets ready in the not so distant future to purchase a revealed 15% of Uber at a valuation of $48 billion, or 30% not as much as a since quite a while ago referred to valuation of $69 billion.

Kalanick possesses 10% of Uber, now esteemed at $4.8 billion, and offered to offer as much as half of that stake, as indicated by Bloomberg.

Uber is currently facing a series of challenges from not having its license renewed in the busy city of London to facing intellectual property theft allegations. In any case, Mr. Kalanick just got richer and maybe looking to jump into other ventures.

Uber has been accused of pursuing very aggressive methods some of which may not be ethical according to critics. Google’s Waymo accused Uber of stealing its technology when it hired and ultimately fired Anthony Levandowski who himself was a Google engineer. Google created Waymo to be its independent autonomous cars division and since then they have partnered with Uber’s main rival Lyft to bring autonomous cars to public roads in the near future.

It was in the middle of all these that Uber hired Dara Khosrowshahi, former Expedia CEO to take over the reins of the embattled company. While Uber retains its dominance in the ride hailing field in the United States and probably the world, it’s beginning to get regional challengers and in the case of China, it has essentially been toppled by local rival Didi in whom Apple invested $1b.

Previous Post

Linux Founder Linus Torvalds Is Not Happy With Intel Right Now

Next Post

Opposition Parties In Germany Want The New Hate Speech Law Abolished

Related Posts

Subscribe Our Newsletter


Never miss an important Tech news again

HTML Snippets Powered By : XYZScripts.com