And in a maneuver to prop up Uber’s value, SoftBank will also purchase up to $1.25 billion worth of new shares at the existing valuation of $67.5 billion. The deal will allow SoftBank to invest a significant amount of its “Vision Fund,” a $100 billion fund earmarked for technology-focused companies around the world. And the Uber deal will add to worries in Silicon Valley that the Japanese conglomerate can make similar demands on other investments. Advertisement Continue reading the main storyThe agreement with SoftBank, however, may bring much needed stability to Uber. “Plus it brings in fresh capital for Dara to build Uber 2.0.”It is unclear, however, if any company bylaws would prevent Mr. Kalanick from returning to Uber’s executive ranks.

Source: New York Times December 28, 2017 21:56 UTC