Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#1

Post by derwiki » Fri, Jan 05, 2018, 2:05 AM UTC

Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake
bloomberg.com

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#2

Post by CardenB » Fri, Jan 05, 2018, 2:24 AM UTC

Does anyone know what sort of restrictions he could have on his stake? Is he allowed to do this?

I would assume a CEO of a private company couldn't sell this much without being removed, but since he has already been removed, I wonder what incentives he would have to keep it.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#3

Post by creator_lol » Fri, Jan 05, 2018, 2:25 AM UTC

or he is planning to get off the sinking ship

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#4

Post by hkmurakami » Fri, Jan 05, 2018, 2:32 AM UTC

Basically an admission that he has lost the power struggle.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#5

Post by outside1234 » Fri, Jan 05, 2018, 2:32 AM UTC

Smart dude - bailing the sinking ship

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#6

Post by czardoz » Fri, Jan 05, 2018, 2:34 AM UTC

creator_lol wrote: post #3

or he is planning to get off the sinking ship

Personally, I really hope Uber does well. The leadership is new, they have more capital, and can do really well if they execute properly. No other company has that sort of a global reach in the on demand transport business right now. It's incredible that I can use the same app to hail a ride in so many cities and countries.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#7

Post by kbenson » Fri, Jan 05, 2018, 2:35 AM UTC

creator_lol wrote: post #3

or he is planning to get off the sinking ship

Sounds more like the former captain absconding with the largest life raft and much of the passengers' riches after being fired. Whether he sabotaged the ship as well remains to be seen, but bystanders have noted it appears to be listing a bit to one side...

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#8

Post by paunchy » Fri, Jan 05, 2018, 2:37 AM UTC

Although unsurprising, this can't be a good indicator for the outlook of the company.

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#9

Post by ProfessorLayton » Fri, Jan 05, 2018, 2:38 AM UTC

Looks like there were a lot of people looking to cash out, since he was unable to sell 50% like initially offered [1]

[1] https://twitter.com/EricNewcomer/status/949095493052768256

Still, a 1.4B cash out is $437,363 per day return for Kalanick. Wow!

Re: Uber Co-Founder Travis Kalanick Said to Plan Sale of 29% of Stake

#10

Post by oculusthrift » Fri, Jan 05, 2018, 2:39 AM UTC

creator_lol wrote: post #3

or he is planning to get off the sinking ship

most likely just wants some cash to do other things with since he’s no longer ceo of uber