Technology 

Uber’s former CEO said to cash in at $1.4B in Softbank deal – CNET

Former Uber CEO Travis Kalanick is cashing in. James Martin/CNET The world looks like it’s about to get a new billionaire: former Uber CEO Travis Kalanick. Uber has confirmed that it closed its deal with a consortium led by Japanese internet giant SoftBank Group on Thursday selling a 20 percent stake in its shares. Once the deal is officially done, Kalanick reportedly will walk away with $1.4 billion, according to CNBC. The agreement comes at a time when Uber is working to clean up after a year of scandals, which…

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Technology 

Kalanick reportedly plans to sell part of stake in Uber – CNET

Travis Kalanick, Uber’s cofounder and ousted CEO, reportedly plans to sell some of his stake in the ride-hailing startup. James Martin/CNET Former Uber CEO Travis Kalanick plans to sell about 29 percent of his stake in the ride-hailing company he cofounded, Bloomberg reported Thursday. The transaction with a consortium led by Japanese giant SoftBank Group is expected to net Kalanick about $1.4 billion, the news agency reported. Uber reportedly said in December it would sell up to a 20 percent stake in its company to the consortium. Kalanick, who owns…

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Technology 

Why Uber is forking over a 15 percent stake to SoftBank – CNET

Uber will sell up to a 20 percent stake of its company to a consortium led by Japanese giant SoftBank, according to a report in The Wall Street Journal (subscription required). The deadline to back out or change terms expired at noon PT on Thursday.  “We look forward to working with the purchasers to close the overall transaction, which we expect to support our technology investments, fuel our growth, and strengthen our corporate governance,” Uber said in a statement.  Uber told CNET it would release a statement later on Thursday…

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Top Stories World 

10 quotes that define the year in tech

As the year comes to a close, 2017 will be remembered as the time when Silicon Valley was forced to engage in some major self-reflection. Facebook, Google, and Twitter found themselves at the center of a storm over election meddling – and the black cloud hasn’t gone away just yet. It’s also the year Silicon Valley was forced to reckon with its “bro culture” and workplace harassment. But it wasn’t all about introspection. As usual, the world got plenty of crazy ideas and zingers from Elon Musk and we were…

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Technology 

Uber reportedly selling failed leasing business to Fair.com – Roadshow

After closing its money-losing Xchange Leasing business in September, on-demand car service Uber appears to have found a buyer. According to The Wall Street Journal, startup Fair.com, which offers open-ended leases for used cars  — excuse me, make that “pre-owned” — through dealer partners, will buy the business for an undisclosed amount. Uber will also take an equity stake in Fair, as well as offer access to Fair via its app, according to the report.  The reported sale comes amid big changes at Uber, which experienced a tumultuous 2017. Co-founder…

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Top Stories World 

Inflammatory letter alleges Uber used shady tactics

SAN FRANCISCO — A former Uber security specialist accused the company of dispatching a team of spies to steal its rivals’ trade secrets and using shady tactics to thwart its competition in the ride-hailing market, according to an inflammatory letter unsealed Friday by a federal judge. Those tactics allegedly included impersonating other people, illegally recording conversations and hacking into computers. Former Uber manager Richard Jacobs, who was fired earlier this year, made the explosive claims in a 37-page letter that sought a big payoff for being forced out of the…

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Technology 

Women outing ‘bad actors’ in tech was defining moment, experts say – CNET

This year will be remembered as a watershed in Silicon Valley, as male executives in power were finally called out after women began speaking up about sexual harassment, a panel of experts says. “When people spoke up, there were repercussions. There was a loss of power, and a loss of reputation,” tech executive Sukhinder Singh Cassidy said Tuesday during the discussion, “Why Silicon Valley is so awful to women and what can be done about it,” at The Atlantic’s second annual Inclusion in Tech conference, in San Francisco. More women need…

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Technology 

Uber settles lawsuit over rape victim’s medical records – CNET

A fleet of self-driving Uber cars in San Francisco last December. The company has settled a lawsuit stemming from a rape in India in 2014. James Martin/CNET Uber has settled a lawsuit involving a woman raped by one of its drivers in India and allegations that the company had obtained and mishandled her medical records. Court documents filed Friday said the case would be dismissed in January. The terms of the settlement weren’t revealed. The lawsuit (PDF), filed this past June in the Northern District…

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Technology 

Florida man, 20, reportedly behind massive hack at Uber – CNET

Uber hasn’t identified the hacker it paid $100,000 to last year, but Reuters reports its a 20-year-old man in Florida. Getty Images A 20-year-old Florida man was responsible for a massive data breach at Uber last year, although his identity couldn’t be established, Reuters reported Wednesday. The ride-hailing startup revealed last month that hackers stole data on 57 million drivers and riders in October 2016. The pilfered data included personal information such as names, email addresses and driver’s license numbers, but not Social Security numbers and credit card information, the…

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Science 

Uber had a massive data hack – here’s how worried you should be

Have you been pwned?Jaap Arriens/SIPA USA/PA Images By Chris Baraniuk Uber revealed on Tuesday that it has kept a massive data breach affecting 57 million people quiet for more than a year. The hackers, the company told Bloomberg News, found the data on an Amazon cloud server used by the firm. To keep the leak secret, Uber paid the hackers a ransom of $100,000. “None of this should have happened, and I will not make excuses for it,” said chief executive Dara Kosrowshahi, who recently took over the role Travis Kalanick had at the time of…

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