Uber has accepted a multi-billion dollar offer from Softbank. Together with other investors, the Japanese telecommunications group immediately put a billion dollars on the plate to buy shares in the Californian private transport platform, but in the coming weeks the investment will rise to 10 billion. The Bloomberg agency writes it, underlining that it is one of the largest operations in the history of startups.
“We think this deal is a big vote of confidence in Uber's long-term potential,” the company said in a statement.
However, it is not certain that the deal will go through: the agreement could fail if a sufficient number of investors willing to sell their shares are not found.
From an industrial point of view, Softbank's investment should allow Uber to break through the markets of India and Southeast Asia.
The Japanese group, founded by multibillionaire Masayoshi Son, had expressed several months ago its intention to invest about 1 billion dollars in Uber for a stake of at least 14% of the company.
Also according to Bloomberg, the agreement also provides that the venture capital firm Benchmark (Uber's shareholder with 13%) suspend its legal action against the co-founder of the transport startup, Travis Kalanick, accused of fraud and disliked by the its own investors.
As a counterpart, a governance reorganization is envisaged which includes three important innovations: the reduction of Kalanick's powers, now replaced in the position of CEO by the ex number one of the Expedia travel portal Dara Khosrowshahi; the equalization of voting power between the holders of different classes of shares and the increase to 17 of the total members of the board (today there are about ten).
The agreement should allow Uber to overcome the scandals and proceed towards the IPO, which should be held in 2019.
