Uber shareholders flocked to sell their shares to SoftBank at a discounted price, meeting SoftBank s requirements for the deal. This deal also triggers a host of governance changes that severely limit former CEO Travis Kalanick s power. Kalanick has good reasons to be on board with the changes, and he . speaking to Bloomberg, Recode and TechCrunch have learned that Uber and SoftBank have finalized a deal that should see SoftBank and an investment group pour $ billion into the company $ billion directly, $ billion buying existing shares while limiting the control of former CEO Travis Kalanick.. The changes they made to comply with the Japanese telecom titan s request for a shift in governance structure includes removing special voting powers that come with certain types of Uber stock. Former CEO Travis Kalanick, for instance, owns a third of what s called the Class B common stock, which had a . Uber Technologies Inc. will move forward with a major investment deal from SoftBank Group Corp. and approved a slate of governance reforms that will limit the influence of co founder Travis Kalanick and early backers. The person board voted unanimously Tuesday to approve sweeping changes to the .
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With the SoftBank deal come major new governance rules that strip power from Travis Kalanick. Here's why he signed on to support the deal..
Organization Insider Will Wei Uber shareholders flocked to provide their shares to SoftBank at a discounted selling price, meeting SoftBank's needs for the deal..
Uber shareholders flocked to sell their shares to SoftBank at a discounted price, meeting SoftBank's requirements for the deal. This deal also triggers a host of .
Former CEO Travis Kalanick's decision on Friday to appoint Kalanick and the rest of Uber's board were Sign up for our Recode Daily newsletter to get .