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Uber Technologies Inc., co-founder Travis Kalanick has sold nearly a third of his 10 per cent stake in the company for about USD 1.4 billion. SoftBank completed its long-awaited investment agreement with Uber making it the company’s largest shareholder, and providing a huge payout for co-founder Travis Kalanick among other early backers. The former CEO owns 10 per cent of the company, which means his sale will unload 2.9 percent of Uber shares. The SoftBank deal offers investors and employees what could be their last chance to sell shares in a company approved transaction before Uber’s long awaited initial public offering, planned for 2019.

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