Mike Windle | Getty Images
Uber Ex-CEO Travis Kalanick speaks at a Vanity Fair summit at Yerba Buena Center for the Arts on October 19, 2016 in San Francisco, California.
Uber co-founder Travis Kalanick, who was booted almost two years ago via the ride-hailing business he built into a global behemoth, still owns 8.6 percent of the company, a stake in which could be worth close to $9 billion.
Kalanick owns 117.5 million shares of Uber, doing him the third-biggest stakeholder, behind SoftBank as well as also also Benchmark, according to the company’s IPO prospectus filed Thursday. With the company poised to debut at a valuation in which could reach $100 billion, Kalanick is actually set to become one of the planet’s 0 richest people.
in which’s been a rocky road to riches for Kalanick, who was celebrated in Silicon Valley for helping start Uber in 2009 as well as also also for pioneering a brand-new industry in which aimed to modernize the taxi experience for the smartphone era. Kalanick raised billions of dollars for Uber via some of the most notable tech investors to expand the business across the globe as well as also also build out a complicated infrastructure in which also put the company squarely within the food delivery as well as also also shipping markets.
however a host of controversies involving the company’s culture, its treatment of drivers, as well as also also its failure to investigate as well as also also disclose abuse claims via riders, as well a high-profile legal fight with Alphabet over self-driving car technology, eventually left Kalanick in conflict with his board as well as also also top shareholders. Partners at top backer Benchmark demanded his resignation in 2017. While Kalanick is actually still on the board, he’s left any functional role at the company as well as also also is actually today running a venture fund he began called 10100 (ten one hundred).
Kalanick, like some other insiders, will have to wait six months before he can turn in which paper profit into real money because of the post-IPO lockup period. The market could swing wildly during in which period for any number of reasons. Rival Lyft is actually trading well below its $72 initial public offering cost via last month, leaving some insiders on edge.
however Kalanick has already realized some of his gains after selling $1.4 billion worth of stock to SoftBank in early 2018. in which transaction was part of a larger deal in which made SoftBank the company’s biggest shareholder with 16 percent ownership, followed by Benchmark at 11 percent.
WATCH: Here’s how Uber compares to Lyft