Who's getting rich from Uber's massive IPO
Uber just publicly revealed the paperwork for its giant initial public offering (IPO). This paperwork doesn't yet include key details, such as how much the company expects to charge for each share of its stock or how many shares it will sell.
But it does reveal who the biggest shareholders are.
And with that knowledge - plus a little digging on Pitchbook, a database that tracks private companies' financial-deal details - we know which people and investors will score the biggest on Uber's IPO.
Travis Kalanick's rise and fall as Uber's founder and CEO has been well documented. He left the CEO job in summer 2017 (and launched a new company) and sold off a sizeable chunk of his stake to Softbank at that time. That sale put $1.4 billion (R20 billion) in his pocket, and it represented only 30% of his stake.
He's the largest individual shareholder. He owns more than 117.5 million shares, or about 8.6% of the company.
Just for fun: If Uber's shares command what Lyft is trading for, about $60 per share, this stake would be worth more than $7 billion (R100 billion).
Garrett Camp is Uber's original founder. He created an app for hailing black-car limo services that his buddy Kalanick loved. Kalanick invested in the fledgling company, joined the startup, and later became its second CEO.
Camp, who is also known for the other tech company he founded, StumbleUpon, has been on the board since its earliest beginnings, sometimes as chairman and other times as just a board member.
Camp is the second-largest individual shareholder. He owns nearly 82 million shares, or about 6% of the company.
Again, just for fun: At $60 per share (what Lyft is trading for), that stake would be worth nearly $4.9 billion.
Dara Khosrowshahi is Uber's CEO, hired to navigate the company out of its well-publicised cultural issues and into an IPO.
He's been on the job for about two years now, and one of his major directives was to take the company public. Insiders have told Business Insider that he's been particularly pressured to launch an IPO with a valuation of $120 billion and that he will be eligible for some hefty bonuses if the IPO hits and maintains that valuation.
His stake is 196,000 shares.
SoftBank drove a hard bargain when it picked up a 16% stake in Uber, buying shares from other stockholders at about $33 a share.
SoftBank's billionaire CEO Masayoshi Son capitalized on Uber's boardroom troubles and the infighting on the board to grab a big chunk of the company for his investment company, the SoftBank Vision Fund, at what he hopes will prove to be a bargain price.
SoftBank Vision Fund, through an entity called SB Cayman 2 Ltd., owns more than 222.2 million shares.
Ryan Graves joined Uber as employee No. 1 by answering a tweet. He was Uber's first CEO, though Kalanick quickly replaced him and took the CEO job.
Graves remains on the board. He may have sold off a chunk of his shares during some of Uber's secondary sales.
Graves owns nearly 33.2 million shares.
Saudi Arabia's Public Investment Fund
The Saudi Arabia Public Investment Fund invested $3.5 billion in Uber in 2016, and its managing director, Yasir Al Rumayyan, sits on Uber's board.
The fund is chaired by Crown Prince Mohammed bin Salman, the Saudi royal who's been accused of killing Washington Post journalist Jamal Khashoggi. The Public Investment Fund predates the prince's tenure. It was established in the 1970s, but it has been a driving force behind the country's ambitions to diversify the economy away from oil.
The Saudi Arabia fund owns nearly 73 million shares of Uber, or 5.3%
The A-list venture firm Benchmark Capital, under partner Bill Gurley, led Uber's $11 million series A round and invested in later rounds. The $12 million it invested over time became valued at as high as $7 billion, records from its lawsuits with Uber revealed.
Benchmark sold about 14.5% of its stake to SoftBank when SoftBank bought in, but it also held on to a considerable stake. It still owns more than 150 million shares, or 11% of the company.
As Business Insider previously reported, Gurley was one Kalanick's earliest advisers and became one of the ringleaders who ousted him.
After that, he resigned from the board, and Matt Cohler took his place. Cohler remains on the board today.
Barney Harford, Uber's chief operating officer, hired by Khosrowshahi, owns 105,211 shares, based on the number of his restricted share units due to convert to shares by the end of May.
Things got dicey for Harford in July when he made some insensitive comments about race, not a good look for Uber as it struggled to rebuild its image. But Khosrowshahi defended him and he weathered the storm.
Thuan Pham is Uber's chief technology officer. He was hired by Kalanick, poached from VMware.
Pham was a Vietnam refugee who came to the US under political asylum after a rough childhood in refugee camps.
Pham was running engineering when Susan Fowler published her infamous tell-all about her experiences with sexism and sexual harassment that eventually undid Kalanick's reign. But investigations found that he was not in the know, and he's remained a key figure at the company under both CEOs.
He owns nearly 5.4 million shares.
More than 160 others
Uber has raised $20 billion from investors in its years as a private company and has 162 investors, according to Pitchbook. There are dozens of other significant investors who have stakes less than 5% of the company (the cut-off that requires public disclosure).
Some of them include:
General Atlantic, the private-equity firm that was part of Uber's $1.6 billion series E funding round in 2015.
The private-equity firm TPG Growth started buying into Uber in 2013 when Uber raised $258 million and was valued at just under $4 billion. It bought more shares than that, and partner David Trujillo is on the board.
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