https://www.recode.net/2017/11/28/16713378/uber-secondary-benchmark-menlo-softbank-stock-sale

Two of Uber’s largest shareholders agreed on Tuesday to sell some of their shares in the world’s most valuable startup to SoftBank in an early sign of momentum for a massive private stock sale.

Benchmark and Menlo Ventures, two firms that this summer pushed for the ouster of former Uber CEO Travis Kalanick, will sell some of their positions in the company as part of the tender offer, a SoftBank spokesperson said. But the deal, which values Uber on secondary markets at 30 percent less than its last private fundraising round, has already driven away one buyer that had been expected to be part of SoftBank’s consortium: General Atlantic, which felt the price of the deal was actually too high, according to a source familiar with the matter, among other concerns.