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Uber Board Votes For 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.
OpenAI’s introduction of trusted contact safeguards for potential self-harm cases reflects a major evolution in AI responsibility.
Beyond Moderation
AI safety is shifting from simply blocking harmful content to actively supporting user wellbeing through:
- early risk detection
- human-centered intervention
- stronger emotional safety frameworks
This positions AI as more than an information tool—it becomes part of broader digital support systems.
Key Industry Impact
Trusted contact models could influence future safety standards across:
- AI assistants
- mental health platforms
- social media
- digital health services
The Bigger Challenge
While promising, success depends on balancing:
- privacy
- consent
- ethical intervention
- user trust
Final Take
This move signals that the future of AI safety may rely not just on preventing harmful responses, but on building more responsible, human-connected support systems.
Rozana, India’s leading rural retail platform, has secured ₹290 crore ($35 million) in a Series B funding round led by Bertelsmann India Investments (BII), with participation from Omidyar Network India, Vivid Capital, and Tana Investment Holding. This Rozana funding brings its total capital to over ₹500 crore, fueling hyperlocal expansion in underserved rural markets. Founded in 2021 by brothers Prashant and Prateek Chauhan, the startup’s phygital model blends micro-stores, app-based ordering, and last-mile delivery to connect 5 million+ users in 12 states with brands like ITC and HUL.
The ₹290 crore investment will supercharge Rozana’s rural omnichannel retail strategy, targeting 5x growth in 18 months. Plans include adding 5,000 micro-stores in Uttar Pradesh, Bihar, and Rajasthan; AI-powered inventory tech; and new categories like groceries and electronics. By empowering 20,000+ rural micro-entrepreneurs, Rozana taps into India’s $700 billion rural retail boom, where smartphone penetration and UPI drive 12% annual growth.
This Rozana Series B milestone positions it as a frontrunner against rivals like Ninjacart, eyeing unicorn status by 2028 amid ONDC tailwinds. CEO Prashant Chauhan emphasized, “We’re building rural prosperity through accessible premium brands.” For more on Rozana funding news and rural retail trends, stay updated on India’s startup ecosystem.
Peak XV Partners has launched three new funds totaling $1.3 billion, targeting India’s booming startup ecosystem. The lineup features the $600M Surge fund (8th edition) for early-stage ventures, a $300M Growth Fund for Series B+ scaling, and a $400M Acceleration Fund for rapid portfolio expansion. This commitment arrives as India’s VC inflows rebound, with AI and fintech leading 2026 trends.
These funds build on Peak XV’s legacy of backing unicorns like Zomato and Pine Labs, offering founders capital plus strategic guidance amid post-winter recovery. Early-stage deals surged 20% last year per Tracxn, positioning Peak XV to fuel the next wave of innovation in SaaS, climate tech, and consumer plays.
For startups eyeing Peak XV new funds or Surge fund 2026 applications, this signals prime opportunities. Investors and marketers should watch for deployment updates India remains a global VC hotspot.
