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Essay / Uber Co-Founder Travis Kalanick Billionaire After $9.3 Billion Investment Deal financiers have agreed to take a significant stake in the ride-sharing company. A consortium led by Japanese bank Softbank is buying part of the organization from existing investors and the new Uber is also taking part in a $9.3bn (£6.7bn) deal. Mr. Kalanick, who ventured into the CEO role in June, is offering stock worth $1.4 billion, it is widely reported. While he had long been worth billions on paper, this arrangement cemented his wealth. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay Mr. Kalanick has been driven out of the top job by a series of embarrassments, but his ties to Uber remain strong. He remains an executive within the organization and is not relinquishing 33% of his stake, meaning he still holds a stake that now amounts to approximately $3 billion more. An extremely wealthy person, but with diminished strengths Dave Lee, BBC North America innovation correspondent. If you trust in karma, turn away at this point. Travis Kalanick is a man who led an unchecked culture of sexism, the cover-up of remarkable hacking, surveillance of writers and, allegedly, the heist of Google's prized formulas. To give some examples of problems. In addition, he will now be, with authority, a very rich person. Again, the implementation of this gigantic arrangement will see Mr. Kalanick's forces diminish. It offers 29% of its offerings, and Softbank, the Tokyo-based group that is obviously a shareholder in all the brilliant ideas in Silicon Valley, will increase by two seats on Uber's board. The cash infusion will offer both a boost and support as Uber hopes to continue its expansion of the doom-laden system into almost every real city and town on the planet. The consortium's $9.3 billion will allow it to acquire an additional 17.5% stake in Uber. Of that $9.3 billion, about $1.3 billion is going toward new business offerings, with the rest going to existing Uber speculators. Uber called the deal "an incredible outcome for our investors, employees and customers, strengthening Uber's leadership as we double down on innovation and continue to bring our services to more people in more places , all over the world. Keep in mind: This is just a sample.Get a custom article from our expert writers now.Get a custom essaySoftbank, which at that time was a financial specialist of Uber, said it was "exceptionally satisfied " of the arrangement and planned to "help Uber become a significantly larger global success story." ". "Uber has a splendid future with its new initiative," said Rajeev Misra, head of Softbank. As part of the deal, Uber's board of directors expanded from 11 to 17 executives, the financial board of Softbank occupying two of the new headquarters, Dragoneer, assembled in San Francisco, is another key speculator The shake-up comes as Uber ends a difficult year, in which it faced lewd behavior, scrutiny by. controllers and a complaint for allegedly stolen innovation It also continues to experience serious misfortunes...
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