The net loss of Uber Technologies Inc. was extended to $ 1.46 billion in the third quarter, according to people with knowledge of the matter, a sign that the leader who enjoys driving finds it more difficult to make a profit amid rival rival Lyft Inc. ] and a series of legal and regulatory pressures.
The San Francisco-based company reported financial information to shareholders as part of the formal offer made Tuesday night by a consortium led by the SoftBank Group that was seeking to buy a large block of shares. Actions. SoftBank said in a statement sent by email that at least two of the company's first sponsors intend to sell. The agreement would value Uber at $ 48 billion, a 30 percent discount to the last private valuation.
General Atlantic and Russia DST Global, which had been in talks to buy shares, abandoned the deal, said one person, who asked not to be identified because the details They are private. The other bidders in the group are SoftBank, Dragoneer Investment Group, TPG, Tencent Holdings Ltd. and Sequoia Capital, which seek to buy at least 13.4 percent of outstanding shares, two people said.  "SoftBank and Dragoneer have received indications from Benchmark, Menlo Ventures and other initial investors of their intention to sell shares in the public offering," a SoftBank spokesperson wrote in an emailed statement. "The sales of these shareholders will be made in accordance with the same terms and conditions that will be offered to all other eligible holders participating in the public offering."
Gross reserves, the key measure of demand for Uber transportation services, amounted to $ 9.71 billion in the period ending in September, compared to $ 8.74 billion in the second quarter, people said. The net loss in the second quarter was $ 1.06 billion.
Uber has had a difficult year, with its co-founder and former CEO renouncing under pressure and the company admitting that it concealed a trick that exposed personal data of 57 million customers and drivers. Lyft, meanwhile, is gaining market share.
The investor group, which expects to buy Uber shares at a low price, offered to pay $ 32.97 per share in its initial salvo, said people with knowledge of the matter. They can increase the offer or move away if the seller's demand is insufficient. SoftBank has committed to invest at least another $ 1 billion in Uber at a higher valuation of $ 69 billion if the agreement is finalized. The combined valuation in the total treatment would be $ 54 billion, said the person.
The buyer consortium has about four weeks to attract enough investors to the current price of the share or offer a higher price. It is badumed that the entire tender process will conclude at the end of February.