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"India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business," said Uber's CEO.
Like other early investors, Goldman Sachs was prohibited from selling its shares until Uber's post-initial public offering lockup expired in November.
Former Uber CEO Travis Kalanick is leaving the company’s board after selling billions of dollars worth of stock
The former CEO's exit will be effective December 31, the company said in a statement. Kalanick has been rapidly selling Uber stock in recent months.
Former Uber CEO Travis Kalanick has been cashing in shares since early November. Here’s why his next sale may be his last.
Kalanick has offloaded as much as 10 million shares in a single day, signaling his next sale could liquidate the rest of his Uber position.
Former Uber CEO Travis Kalanick cashes in another $383 million of stock, further shrinking his stake in the company he founded
Kalanick has sold a total of $2.4 billion worth of Uber stock over the last few months as he distances himself from the rideshare giant.
Former Uber CEO Travis Kalanick cashes in another $166 million of stock as he further distances himself from the rideshare giant
The mid-December offloading brought Kalanick's total sale to more than $2.1 billion, but the former Uber CEO still holds about 21 million shares.
"Investors got really turned off," said Kathleen Smith, principal at Renaissance Capital. "I'll call it a buyer's strike."
Uber released an 84-page report on Thursday disclosing data on its sexual assault cases, car crashes, and murders that took place during rides.
Uber’s former CEO Travis Kalanick cashes in another $93 million in stock as he separates himself further from the rideshare giant
The latest sell-off brings Kalanick's combined sales to $1.8 billion, though he still holds roughly 33 million Uber shares.
There is a risk Uber won't be able to maintain the kind of critical mass required to attract the capital needed to sustain a loss-making enterprise of this scale.