Uber’s cofounder and former CEO Travis Kalanick is planning to sell $1.4 billion of stock in the company, or 29% of his stake, Bloomberg’s Eric Newcomer reports according to people with knowledge of the matter.
Kalanick, who resigned as CEO last summer following controversy, would sell his shares as part of a tender offer between SoftBank and Uber that would value the company at $48 billion.
Uber declined to comment on the report.
For more detail, read the full report on Bloomberg.
