Jan 19, 2018
Uber co-founder Travis Kalanick a billionaire after $8bn investment deal
Uber co-founder Travis Kalanick will officially become a billionaire, after investors agreed to take a large stake in the ride-hailing firm. A consortium led by Japan's Softbank is buying a chunk of the company from existing shareholders as well as new Uber shares in an $8bn deal. Mr Kalanick was driven out of the top job by a series of scandals, but his ties with Uber remain strong. Uber called the deal a "Great outcome for our shareholders, employees and customers, strengthening Uber's governance as we double down on our technology investments and continue to bring our services to more people in more places around the world". Which was already an Uber investor, said it was "Very pleased" with the deal and looked forward to "Helping Uber become an even bigger global success".
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