Softbank to Invest in Uber
CBJ — Japanese technology giant Softbank plans to invest billions of dollars in Uber.
Uber Technologies is the world’s foremost ride-hailing service and it’s a service that has certainly not been without controversy.
According to reports, Softbank Group will buy about $1 billion worth of new Uber stock, then will offer to purchase shares from investors and Uber employees as part of an effort to own about 14% of the company.
According to the latest figures Uber is worth more than $68 billion U.S., but Softbank’s investment will be based on a lower valuation.
The long-term plan is to have Uber shares available to sell to the public. Expectation is that an initial public offering will be made before 2020.