Uber’s board and shareholders have discussed selling some shares to SoftBank and other companies, Bloomberg reported Friday, citing people familiar with the matter.
Benchmark, one of Uber’s early investors, has discussed selling shares to Softbank and others, unnamed sources told Bloomberg. Such a deal could provide new money into the ride-hailing company, Bloomberg added, citing the sources.
A sale would mark another massive change in the relationship between Uber and the venture capital firm, which reportedly led the ouster of CEO Travis Kalanick earlier this year. Bill Gurley, long-time Uber board member, was replaced on Uber’s board this summer.
CNBC reported last month that Uber insiders are seeking to sell shares. In fact, Uber execs think allowing some employees to do so might help boost morale inside the company. The call will be up to Uber’s board of directors, since most of the senior staff has departed the company in recent weeks.
Earlier Friday, reports said that SoftBank was considering investing in Uber’s Singapore-based rival, Grab.
Softbank has been on an investment spree in the transportation space and beyond, investing in Brazil 99, Didi Chuxing and Lyft. CEO Masayoshi Son has proclaimed an ambitious vision spanning over the next century to invest in emerging technologies. To that end, the Japan-based conglomerate tied up with backers like Apple and Oracle’s Larry Ellison. It’s unclear if this deal would be related to that fund.
Read the full Bloomberg report here.
CNBC’s John Shinal and Deirdre Bosa contributed to this report.