Uber Technologies Inc. has finalized a major investment deal with SoftBank Group Corp., marking a significant shift in the company’s ownership structure. In this transaction, Uber shareholders sold a stake worth $8 billion (approximately RMB 51 billion) to a group led by SoftBank, making the Japanese tech giant the company's largest shareholder. The deal was completed at a discount, reflecting the ongoing challenges Uber has faced in the competitive ride-hailing market.
According to a source familiar with the deal, SoftBank contributed $1.25 billion to Uber’s funding round. While Uber’s valuation had previously been estimated at $70 billion, the sale price was based on a lower valuation of $54 billion. This move not only strengthens Uber’s financial position but also signals a strategic partnership aimed at accelerating growth and innovation.
The transaction is expected to bring changes to Uber’s board of directors. The company will add several new seats, increasing the total number of board members to 17. According to insiders, SoftBank plans to appoint Rajeev Misra, a senior executive from the company, and Marcelo Claure, CEO of Sprint, as board members. However, these appointments are still under discussion, and four more positions, including one for an external director, remain to be filled.
Rajeev Misra expressed confidence in Uber’s future under new leadership, stating that he believes the company will perform better with the right direction. Meanwhile, the restructuring also impacts existing shareholders. Some long-time investors will see their voting rights limited, reducing the influence of co-founder Travis Kalanick and venture capital firm Benchmark. Notably, Benchmark later agreed to drop its legal claims against Kalanick following the deal.
This investment marks a crucial moment for Uber’s new CEO, Dara Khosrowshahi, who took over amid a turbulent period for the company. The negotiations were not without challenges—SoftBank’s CEO, Masayoshi Son, even hinted that if the deal with Uber fell through, he would consider investing in Lyft instead. Now, with the deal finalized, both companies are looking toward a more stable and collaborative future.
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