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Kalanick still had the majority. The board couldn't "plan" this without his consent.
by austenallred 9y ago
Kalanick still had the majority. The board couldn't "plan" this without his consent.
- tw04 9y agoThey absolutely could plan it without his consent. Uber is still hemorrhaging money. They'd be lucky to make it through 2018 if those investors turned off the tap.
- FussyZeus 9y agoExactly. If you haven't made a profit you don't control shit, you get exactly as much control as the moneypurses allow you have and NO more.
- smallgovt 9y agoThey absolutely could not put this plan into effect without his consent. Uber has plenty of sources for capital. The current board consists mainly of individuals who do not have funds to capitalize Uber anyways. Take a look at their funding history and you will realize that the lead in each round is a new investor.
- deleted 9y ago[deleted]
- exolymph 9y agoDepends on how you define "consent" — others have noted that they need to raise a round within a little over a year, and they may have threatened to poison the well if Kalanick didn't step down.