The Investors Most Likely to Sell Their Uber Stakes
Uber's valuation is reportedly down. That's according to Softbank's offer to buy shares of the ride-sharing company at a 30 percent discount. Axios' Dan Primack breaks down what this pending deal could mean for Uber.
The Japanese firm is leading a group that will purchase billions of dollars worth of shares from employees and investors at a $48 billion valuation, and invest about $1 billion in Uber at the previous valuation of $68 billion. Primack says most of this investment will go to early shareholders. The "unofficial" reason for the investment at the old valuation is that is the price Saudi Arabia's public investment fund bought in about a year ago.
Potential sellers, such as early investors and employees, have 20 business days to give Softbank an answer during the tender process. Primack called Softbank's price at a 30 percent discount an "opening bid," and doesn't see any way this deal is accomplished at this starting price. Ultimately, Uber CEO Dara Khosrowshahi needs this deal to get done because it's tied to governance changes, says Primack. It will give Khosrowshahi and the board more control, and former Uber CEO Travis Kalanick less control.
Smoke that filled the cabin of a Delta flight as it took off from the Atlanta airport in February was so thick the led flight attendant had trouble seeing past the first row of passengers and the pilots donned oxygen masks as a precaution.
Arjan Stephens, President of Nature's Path, discusses the company's origin, how it has evolved today and the interesting product that came from his wedding!
Small business reporter, Gene Marks, joins Cheddar to give analysis on how small businesses are tackling incoming tariffs and how it will affect the consumer.
Babylist CEO Natalie Gordon joins Cheddar to discuss how the website is helping new parents, how to make a registry and how secondhand options are available.
Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection.
