DETROIT — Investors in the Uber ride-hailing service didn’t get all they wanted in selling at least part of their holdings to a group led by Japanese technology conglomerate SoftBank. But don’t show them too much sympathy.
DETROIT — Investors in the Uber ride-hailing service didn’t get all they wanted in selling at least part of their holdings to a group led by Japanese technology conglomerate SoftBank. But don’t show them too much sympathy.
Even though they sold at roughly a 30 percent discount from what the shares were worth in 2016, those who invested early made nearly 100 times their initial stake. One investor says his group went from around 35 cents per share to just under $33. He didn’t want to be identified because the sales are private.
Uber was worth around $68.5 billion during a 2016 capital investment, but it dropped to somewhere above $48 billion in the SoftBank deal announced last week. Analysts blamed the fall mainly on scandals that plagued the company in 2017.
