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Is it good for uber employees or bad? What was the stock price at which Softbank agreed to purchase from employees?
Old timers won
Obviously good for early employees. For the longest time at every valuation, we were told Uber is just a taxi company worth nothing. To see this come to reality -- even at the lower end of Softbank's price -- is an incredible win for the company
News stories mention same valuation, which means existing shares loose value. But an offer to sell some shares for actual cash maybe positive to some.
I heard the rumor softbank didnt purchase all their share at the same valuation. Employee stocks were purchased at a discount.
The stocks from employees are common stock. The primary 1B were used to buy preferred stock downside protections and were therefore more expensive. Also, Uber keeps a lockdown on the secondary market due to SEC rules, which means SoftBank is the only buyer for employees. You can bend people over the rails a bit when you have a monopsony