The ride hailing service's board of directors has given the go-ahead to a SoftBank investment sized between $1bn and $1.25bn at a $69bn valuation.
US-based ride hailing platform Uber has approved organisational changes that will allow telecommunications firm SoftBank to invest $1bn to $1.25bn in the company, CNBC reported yesterday, citing unnamed sources.
The deal, which will value Uber at $69bn, was approved by its board of directors along with a proposal to expand the size of the board from 11 to 17 seats, and resolved to launch an initial public offering by the end of 2019.
Founded in 2009, Uber has built an…
