Uber valued at $48bn after consortium secures shares deal
by Reuters from Technology | The Guardian on (#3BWJ9)
Buyers take stake of about 17.5% in ride-hailing company that has gone through a turbulent year
A consortium led by SoftBank Group Corp has successfully bought a large number of shares in Uber in a deal that values the ride-hailing/food delivery firm at $48bn (36bn), Uber said on Thursday.
The price is a discount of about 30% to Uber's most recent valuation of $68bn. The deal will trigger a number of changes in the way the board oversees the company, which is facing federal criminal investigations, a high-stakes lawsuit and complaints about its workplace culture.
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