SoftBank to invest in Uber
Japanese technology conglomerate SoftBank has reached a deal with Uber to invest billions in the ride-hailing giant.
Uber Technologies confirmed the investment in a statement Sunday without giving details.
But a person briefed on the deal said SoftBank Group will buy about $1 billion worth of new Uber stock, then will offer to purchase shares from investors and Uber employees with the goal of reaching a 14 percent stake in the company. Uber currently is valued at $68.5 billion, but stock offers will be based on a lower valuation, so it’s unknown just how much the total deal will be worth, said the person, who spoke on condition of anonymity because details were not released.