Kalanick to sell 29% of stake in Uber

|About: Uber (UBER)|By:, SA News Editor

It looks like a rethink for Travis Kalanick, who has long boasted that he's never sold any shares in the company he co-founded.

The former CEO of Uber Technologies (Private:UBER) is selling nearly a third of his 10% stake in the ride-services firm for about $1.4B, Bloomberg reports.

Kalanick’s sale is part of a deal struck by a consortium led by SoftBank, which is taking a 17.5% stake in Uber.

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