Mexican Media Brands
Ex-CEO Kalanick Sells 20% of Uber Stake
Former Uber Technologies CEO Travis Kalanick sold about 20% of his stake in the ride-hailing company for $547 million, according to regulatory filings.
#regulations #economics
Share
Co-founder and former Uber Technologies Inc. CEO Travis Kalanick sold about 20% of his stake in the ride-hailing company for $547 million, according to regulatory filings.
Kalanick’s sell-off on Friday was part of a massive trading day for Uber, in which 131 million shares valued at about $3.5 billion were moved. The sales marked the end of the IPO lockup period, during which major investors were restricted from selling their shares.
The stock closed at a record low of $26.89 on Friday, down 35% from its IPO price. Earlier last week Uber announced net losses increased 18% to $1.2 billion for the third quarter, despite 30% higher revenues year over year.
Kalanick, who remains on Uber’s board of directors, still owns nearly 5% (78 million shares) of the company’s stock. He resigned as CEO under pressure from investors in June 2017.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
