Connect with us

Latest News

Uber Board Votes For SoftBank Deal

Published

on

Uber Board Votes For SoftBank Deal,Startup Stories,2017 Latest Business News,Inspirational Stories 2017,Softbank investment deal,Uber CEO Travis Kalanick,Uber Latest News,Uber Votes to SoftBank Deal

The Board of Uber Technologies Inc., has announced that they will go ahead with the Softbank investment deal and thereby, curb the power of the former Chief Executive Officer, Travis Kalanick. The board, in an attempt to move past the months of strife, unanimously passed a series of measures to shore up corporate governance by bringing in major investor SoftBank.

The changes were adopted by all the 11 members of the board in an attempt to recover from a myriad of legal problems by stripping Kalanick and other early investors of their extra voting power. According to sources, Kalanick has agreed to the provisions which will partially weaken his power in the company and to pursue an initial public offering of Uber’s stock by the end of 2019. In a statement, the Uber board said the changes in the governance would strengthen its independence and ensure equality among all shareholders.

The changes in the company includes expanding the number of board seats to 17 from the existing 11. The 17 board members will comprise of three independent directors voted on by the board, including a chairperson and up to three seats for SoftBank, depending on the size of the investment. Sources also added the two directors appointed by Kalanick in a surprise move, Ursula Burns and John Thain, will also remain on the board. Meanwhile, shareholders will have the power of one vote per share which will effectively put an end to the voting power held by the early investors, including Benchmark.

This investment by SoftBank and others preserves Uber’s previous valuation of $ 69 billion, which is considered to be the highest among the world’s venture backed startups. “SoftBank’s interest is an incredible vote of confidence in Uber’s business and long-term potential,” Uber board added in the statement. SoftBank will be investing close to $ 1.25 billion in the company and will also be spending $ 10 billion to buy shares from existing investors. This round of investment is a collaboration between Dragoneer Investment Group and Tencent Holdings.

In another separate statement, Kalanick added the decision taken by the board is a major step forward in Uber’s journey to becoming a world class public company. “We approved moving forward with the Softbank transaction and reached  (an) unanimous agreement on a new governance framework that will serve Uber well. Under Dara’s leadership and with strong guidance from the Board, we should expect great things ahead for Uber,” he added.

Continue Reading
Advertisement
5 Comments

5 Comments

  1. MM88

    November 7, 2025 at 8:54 pm

    Khám phá thế giới giải trí trực tuyến đỉnh cao tại MM88, nơi mang đến những trải nghiệm cá cược thể thao và casino sống động.

  2. J88

    November 10, 2025 at 2:02 am

    Đến với J88, bạn sẽ được trải nghiệm dịch vụ cá cược chuyên nghiệp cùng hàng ngàn sự kiện khuyến mãi độc quyền.

  3. 站群程序

    November 11, 2025 at 3:49 am

    搭载智能站群程序,自动化搭建与管理,为SEO项目提供核心驱动力。站群程序

  4. 站群程序

    November 12, 2025 at 10:55 pm

    搭载智能站群程序,自动化搭建与管理,为SEO项目提供核心驱动力。站群程序

  5. Kuwin

    November 14, 2025 at 1:29 pm

    kuwin sở hữu kho game đa dạng từ slot đến trò chơi bài đổi thưởng, mang đến cho bạn những giây phút giải trí tuyệt vời.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Zerodha Reports 23% Profit Decline in FY25 as Revenues Miss Target

Published

on

Zerodha FY25

Zerodha experienced a challenging FY25, as its revenue fell 11.5% to ₹8,847 crore and net profit dropped 22.9% to ₹4,237 crore. This decline reflects tougher regulatory conditions, lower trading volumes, and increased operational costs in the brokerage market, all of which impacted core earning segments for the company.​

Despite these headwinds, Zerodha improved its operating margin to 63.78% and built up significant cash reserves, reporting ₹22,679 crore in bank balances. Salary expenses and director remuneration increased, but disciplined cost controls helped the company maintain profitability and a debt-free balance sheet. The drop in active clients and increased compliance costs further contributed to the profit contraction.​

Looking ahead, Zerodha’s resilience is supported by its robust cash position and operational efficiency. Maintaining steady margins, diversifying product offerings, and investing in technology positions the company to withstand future regulatory fluctuations and changing market sentiment reinforcing its status as one of India’s leading brokerage firms.

Continue Reading

Latest News

Zoho Pay Debuts as India’s New UPI Challenger, Taking on PhonePe, Paytm, and Google Pay

Published

on

Zoho Payment

Zoho Corporation has expanded its fintech portfolio with the launch of Zoho Pay, a UPI-based payments app built to challenge India’s top digital payment giants such as PhonePe, Paytm, and Google Pay. The new app supports peer-to-peer transfers, bill payments, QR-based transactions, and merchant settlements in a streamlined interface. Available as both a standalone app and an integrated feature inside Zoho’s privacy-driven messenger Arattai, Zoho Pay enables users to handle chats and payments in one platform, emphasizing data privacy and Made-in-India innovation.​

Through seamless integration with Arattai, Zoho Pay allows users to send or request payments, split expenses, and conduct UPI-based transactions directly in their chat windows. Users can link bank accounts, scan dynamic QR codes, and receive audio confirmations of payments, ensuring speed and security. This design mirrors the simplicity of India’s leading UPI apps but is powered by Zoho’s non-advertising, privacy-first model. The integration aligns with Zoho’s mission to build a self-reliant digital ecosystem, where messaging and money management coexist securely.​

In the competitive digital payments market, Zoho Pay differentiates itself through its tight business software integration with apps like Zoho Books, Zoho Payroll, and Zoho Commerce, offering small businesses unified access to payments, billing, and accounting. The company is also expanding its reach with POS devices for merchants featuring UPI QR, card payments, and instant reconciliation tools. With founder Sridhar Vembu’s vision of a ‘Chat + Pay’ ecosystem, Zoho Pay reflects a bold step toward redefining India’s fintech scene with a secure, ad-free, and locally developed alternative to global payment platforms.

Continue Reading

Latest News

Meta Expands AI-Powered Reels Translation to Hindi and Portuguese, Enhancing Global Creator Reach

Published

on

Meta has expanded its AI-powered translation feature for Reels to include Hindi and Portuguese, joining English and Spanish in empowering creators to reach a broader global audience on Instagram and Facebook. Originally launched in August 2025 with support for English and Spanish, this update now allows creators to seamlessly translate and dub their short videos, breaking language barriers across some of the largest Reels markets worldwide. The AI technology mimics the creator’s voice tone and even offers lip-syncing to ensure the translated videos feel natural and engaging for viewers.​

This enhancement is especially significant for India, the largest market for Facebook and Instagram, where over 600 million people speak Hindi. Content creators who are not fluent in Hindi can now easily access this vast audience, increasing their reach and engagement across diverse linguistic groups. To maintain transparency, all translated Reels are clearly labeled with “Translated with Meta AI,” and viewers can choose to switch translations on or off based on their preference.​

In addition to voice dubbing, Meta is developing features to translate captions and text stickers on Reels, making content more accessible even without sound. These AI translation tools are available free for eligible public Instagram accounts and Facebook creator profiles with over 1,000 followers. This innovation reinforces Meta’s commitment to fostering cross-cultural content sharing and enhancing creators’ ability to connect with audiences around the world through short-form videos.

Continue Reading
Advertisement

Recent Posts

Advertisement