Uber's ex-CEO to sell nearly a third of his stake in the company


Uber's big investment deal with SoftBank may place some limits on power held by co-founder and ex-CEO Travis Kalanick, but it will reportedly put a significant amount of cash in his pocket. Bloomberg and Reuters report that according to anonymous sources, Kalanick will reduce his stake in the company by a third, selling 2.9 percent of Uber's shares for about $1.4 billion after leaving the company last year following a series of scandals. Meanwhile, new CEO Dara Khosrowshahi can focus on things like the case vs. Waymo over self-driving technology.

Source: Bloomberg, Reuters

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