Softbank Prepared to Sell Uber Stake


Venture capital firm Benchmark, which owns 13 percent of Uber worth nearly $9 billion, and Menlo Ventures, another large shareholder, have indicated that they would sell a portion of the shares, according to a SoftBank spokesperson.

Shawn Carolan, managing director at Menlo Ventures and who leads the firm’s Uber investment, confirmed that the firm “is in favor of the transaction, and will be tendering some of our shares.”

How many it sells, though, depends on the final price SoftBank is willing to pay, he said.