Search Results for:Eric Newcomer

Uber’s Kalanick mulls sale of 29% of his stake in ride-hailing giant

One of the wealthiest people in the world on paper, Kalanick would become an actual billionaire for the first time as a result of the sale.

Didi buys Brazil’s ride-hailing app 99, to take on Uber in Latin America

Didi led a $100 million investment in 99 Taxis a year ago. “Globalization is a top strategic priority for DiDi,” Cheng Wei, Didi CEO, said in a statement.

Uber investors agree to sell stock in $9b SoftBank-led deal

The investor group which also includes Dragoneer Investment, TPG, Tencent Holdings and Sequoia Capital will own 17.5 percent of the startup.

Uber-SoftBank deal may smooth road ahead for scarred ride-hailing startup

The deal will bring new cash to Uber, prevent arch U.S. rival Lyft Inc. from dealing with SoftBank, appease some early, antsy backers and pacify a previously warring management team and board, while solidifying the leadership of CEO Dara Khosrowshahi.

SoftBank is said to seek Uber shares at $48b valuation

This deal would value the ride-hailing company at 30 percent less than its most recent $69 billion valuation. If shareholders don’t agree to sell in sufficient numbers, SoftBank could raise the price or walk away.

Uber approves SoftBank’s investment offer, paves way for largest startup deal

SoftBank, others invest up to $1B, followed by offer to buy up to $9B in shares from existing investors.

Airbnb’s former China head is said to have violated company code

Airbnb had searched unsuccessfully since 2015 to recruit a business chief for China.

Just months into the job, Airbnb China chief heads for the exit

Departure reflects the struggle Airbnb faces in China.

SoftBank, Alphabet billionaires swap ride-hailing bets

The future of the ride-hailing industry depends on the capricious largesse of two internet billionaires on opposite sides of the globe. Alphabet Inc., led by Larry Page, just backed Lyft Inc., while SoftBank Group Corp. chief Masayoshi Son is set to take a big stake in larger rival Uber Technologies Inc. Alphabet unit CapitalG led a $1 billion investment in… Read more »

Lyft raises $1b in round led by Alphabet, valuation climbs to $11b

Alphabet was a major Uber backer, but the two have clashed in court over autonomous vehicle technology this year.