UBER co-founder Travis Kalanick sells 21% of his stake

11:20:00 PM, Tuesday 12th of November 2019 | in business

Uber revealed in a regulatory filing from late Friday that its co-founder and former chief executive Travis Kalanick has sold nearly 21% of his stake in the ride-hailing company after the expiry of a so-called lockup period. Kalanick sold more than 20 million shares, worth nearly $547 million and now owns about 75.4 million shares in Uber that are worth more than $2 billion. Uber's shares were down 2.2% at $26.44 on Monday.