The VC firm that orchestrated the ousting of Uber's CEO wants to sell some of its stake
Silicon Valley venture capital firm Benchmark is in talks with SoftBank about selling some of its shares in Uber, according to a Bloomberg report on Friday.
Benchmark led the effort to replace Travis Kalanick as Uber's CEO last month, and the firm had looked into selling some its shares prior to Kalanick's departure, according to the report, which cited anonymous sources.
Benchmark was one of the first investors in Uber, the ride-hailing startup that has grown at a breakneck pace to become the most valuable tech startup in the world, with a $69 billion valuation.
But the company has been rocked by a string of problems, including allegations of sexual harassment and a toxic work culture, as well as a high profile trade theft lawsuit by Google. Kalanick, one of Uber's cofounders, stepped down from the CEO job in June.
Benchmark is working with Uber's board to sell some shares to SoftBank or other investors, Bloomberg said. The size of the stake that could potentially be sold was not clear.
Uber did not immediately respond to a request for comment.