It’s not just SoftBank and Dragoneer that are looking to buy Uber shares from the employees and other shareholders, when the tender offer launches, likely later today.
Sources tell us that Sequoia Capital is looking to increase its stake in Uber this way. The other investors on the list include Tencent and TPG.
SoftBank has made an offer to purchase the shares at $32.96. This is a steep discount to the $48.77 from the latest Series G round.
The group of investors are looking to buy about $8 billion in shares. If they do not find enough sellers to meet the $8 billion, it’s possible that they will increase the offer price.
There’s also a $1 billion direct investment in Uber, that would value the company at its last private valuation of nearly $70 billion.
Sequoia declined to comment. Uber declined to comment.
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