Why Benchmark May Want to Cash Out of Uber
ByTake the money and run is the new Uber benchmark.
The ride-hailing company, valued at nearly $70 billion in its most recent funding round, is facing multiple controversies, managerial turmoil and huge losses. The early investor Benchmark may be loath to give in to demands to sell its 13 percent stake. But it would help restore some stability and let the venture capital firm rake in billions of dollars.
Benchmark, which led Uber’s Series A funding round in early 2011, has injected nearly $30 million into the company, according to fellow shareholders. Now, though, it has turned to the courts to try to stop Uber’s co-founder and former chief executive, Travis Kalanick, from participating in board business…
Why Benchmark May Want to Cash Out of Uber
