Former Uber CEO Kalanick cashes out on over 90% of shares worth over $2.5billion

Former Uber CEO Travis Kalanick has cashed out on more than 90 percent of his shares with the ride-hailing firm in less than two months.

The sale of shares have totalled to more than $2.5billion in value of stock since Uber's post-IPO lockup period expired on 6 November.

Uber’s stock value has struggled since its IPO launched on 9 May. The private hire operator’s shares debuted at $42 and currently sit at just $30.45.

The speed of Kalanick’s share sales in the firm that he co-founded in 2009 with Canadian Garrett Camp, has raised suggestions that he could sell all of his stake before 2020 begins.

The former CEO is expected to use the proceeds of the sales to finance his new venture known as CloudKitchens. The new firm plans to lease restaurant kitchen space to serve on food delivery apps like Uber Eats and Deliveroo.

Image credit: OFFICIAL LEWEB PHOTOS (Flickr) CC2.0

  • Facebook TaxiPoint
  • Twitter TaxiPoint
  • YouTube TaxiPoint
  • Instagram
ltda banner.JPG




ETHOS 030 Taxi Point ad mob (002) MARKET
TAXI INSURANCE MMC October 2020.gif
Ascotts Taxi Repair
Plan Taxi Insurance
advertise with us.jpg

The views expressed in this publication are not necessarily those of the publishers.

All written and image rights are reserved by authors displayed. Creative Common image licenses displayed where applicable.

Reproduction in whole or in part without prior permission from the publisher is strictly prohibited.

All written content Copyright of TaxiPoint 2021.