Uber ponders new investment as board battle rages
Uber's board of directors continues to engage in preliminary talks with three different investor groups, for a transaction that mostly would involve the purchase of shares from existing investors (a.k.a. secondary shares), according to The NY Times.
This comes after early investor Benchmark Capital sued former CEO Travis Kalanick to force him off the board of directors, another small group of shareholders called for Benchmark itself to sell its shares and the board itself begged for peace. On Monday afternoon, Benchmark explained its actions in a letter to Uber employees.