Sign up to receive 5 free days of our daily summary for tech news.

Read this article for free.

Already a subscriber? Log in here

Asia Uber/Lyft

Uber Tender Gives Employees Chance to Realize Profits

Uber is expected to sign an agreement with SoftBank later Wednesday paving the way for the start of a tender offer for Uber shares that could be worth $8.5 billion.

The offer is a big deal for Uber investors, including some of its 16,000 employees. While private tech firms often run tender offers to give employees and other shareholders an opportunity to sell, Uber has heavily restricted shareholders from selling. Uber is expected to let employees sell up to half of their shares, as long as they own a minimum of 10,000 shares, said a person familiar with the situation. The cap also applies to Uber’s board members, which means investors with board representatives like Benchmark can only sell half its stock. Former employees are not limited in what they can sell, this person said.

What Is The Information?

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

Receive original reporting about the most important tech companies, from Apple to Uber, in your inbox or online.

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Go deep into areas like crypto and VC diversity—or get real-time analysis of breaking news—via conference calls with our reporters and other experts.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, subscribers get access to dozens of events a year, from intimate dinners to larger gatherings with marquee speakers.

Access the best reporting on the tech industry read by tens of thousands of global executives.

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Share with your team

Subscribers can unlock any article and share it with friends and co-workers through a special share link.

Stay up to date on Silicon Valley

Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.

Already a subscriber? Log in here

Recent Articles

Uber/Lyft

Uber to Spend Up to $500 Million on Ad Campaign

By Priya Anand

Cities Uber/Lyft Policy

Scooter Mania Continues as ‘Skip’ Nabs $25 Million, ‘Bird’ Goes to China

By Amir Efrati, Cory Weinberg, and Yunan Zhang

Autonomous Vehicles Uber/Lyft

Cruise Still Open to Deals With Ride-Share Partners, Investors

By Sarah Kuranda

Cities Startups Uber/Lyft

One Year in, Bird Founder Sells Some Shares

By Amir Efrati and Alfred Lee

While the offer won’t formally launch for a few weeks, Uber is expected to run newspaper ads this week to alert shareholders of the pending tender offer.