Uber's board reaches deal allowing $10B SoftBank investment

Uber's board reaches deal allowing $10B SoftBank investment

7 years ago
Anonymous $ZOEEBQ1zf0

https://www.cnet.com/news/ubers-board-reaches-deal-allowing-10b-softbank-investment/

Uber's board of directors reached a deal Sunday that will allow SoftBank to make a multibillion-dollar investment in the ride-hailing startup.

The agreement resolves a legal battle between Uber cofounder and former CEO Travis Kalanick and Benchmark Capital, one of the startup's early investors, Reuters reported Sunday. Benchmark Capital, which owns about 13 percent of Uber, sued Kalanick in August, alleging that Kalanick misled Uber's stockholders to gain control of three board seats.