Uber co-founder sells 90 per cent of his shares


Uber co-founder Travis Kalanick has sold over the past few weeks shares in the lift-sharing platform worth more than $US2.5 billion ($3.6 billion), or more than 90 per cent of his shares, the Wall Street Journal reports.

According to the daily financial newspaper, if Kalanick should continue to sell off at that rate, he would be completely divested of his Uber shares in a matter of days.

Travis Kalanick has been offloading his Uber shares at a rapid rate,Credit:Bloomberg

The former Uber CEO started getting rid of his shares at the beginning of November, about six months after the company was listed on the stock exchange, a time when he and others of the original investors were barred from selling their shares on the stock market.

For now Kalanick’s reasons for selling off his participation in the lift-sharing service he co-founded, and which he was forced to leave in 2017 under pressure from investors due to a number of scandals within Uber, have not been explained.



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