Benchmark Sold off $900 Million of its Uber Stock But Wanted to Sell More
- Benchmark is selling nearly 15% of its stake in Uber to Softbank for about $900 million.
- The deal is part of Softbank's effort to build up a big stake in ride-hailing giant Uber, by buying shares from existing shareholders and from Uber itself.
- Softbank offered to buy shares from existing shareholders at a steep discount to Uber's most recent private valuation. Even so, shareholders offered to sell Softbank more shares than it wanted to buy, including Benchmark....