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> Other members of SoftBank’s bidding group are likely to buy part of the remaining shares on offer, the people said. Any ideas on who are these other members
by thisisit 9y ago
> Other members of SoftBank’s bidding group are likely to buy part of the remaining shares on offer, the people said.
Any ideas on who are these other members?
As for the question on whether this is a haircut on valuation is an interesting one.
This is not exactly raising money from a VC rather through a secondary offering, so Uber can still claim there is no down round. It's just that people in public bidding sold on a discount. But, that is fine too as common stock from early rounds are actually worth less than common stock from later rounds.
https://www.bloomberg.com/view/articles/2017-11-16/softbank-thinks-some-uber-shares-are-worth-more-than-others https://www.bloomberg.com/view/articles/2017-11-16/softbank-...
> Since Uber's stock doesn't trade on an exchange, there is no public record of its value changing from day to day, and it can point to its last fundraising round as its still-current "official" valuation, whatever has happened since. But if it does a new round at a lower price, it won't be able to play that game any more. And as Uber gets closer to an initial public offering, that game becomes more important: It's harder to argue for an $80 billion IPO after a $50 billion private down-round.