Board: Uber and Investment

board: Soft Bank's interest is an incredible vote of confidence in Uber's business and long-term potential, and we look forward to finalizing the investment in the coming weeks, according to The Japan Times. If the investment goes ahead as proposed, Soft Bank would directly pump between 1 billion about 112 billion and 1.25 billion into Uber at the San Francisco-based startup's current valuation of 69 billion, according to a source familiar with the matter. The proposal adopted by Uber's board also promised to put an end to infighting between Kalanick supporters and investors who suspected the co-founder was plotting a wily return to the company's leadership. ; Today, after welcoming its new directors Ursula Burns and John Thain, the board voted unanimously to move forward with the proposed investment by Soft Bank and with governance changes that would strengthen its independence and ensure equality among all shareholders, Uber said in an emailed statement. As a secondary investment move, the Japanese company would put out an open offer to buy 14 percent to 17 percent of outstanding shares from large investors at a discounted price, the source said. Governance changes approved by the board hinge on the Soft Bank investment taking place. Major investors who are unhappy with the leading smartphone-summoned ride share startup, or who want to cash-in on early investments that have multiplied in value, could take Soft Bank up on the offer. (news.financializer.com). As reported in the news.