Uber co-founder Travis Kalanick rings the register on $164M of stock
He still owns more than 4% of the company
Uber co-founder Travis Kalanick isn’t finished dumping shares of the ride-hailing giant.
In four separate transactions completed since Nov. 11, Kalanick sold a total of 6,086,777 shares, worth about $164 million, a U.S. Securities and Exchange Commission filing showed. Kalanick has now sold about $711 million worth of Uber stock since Nov. 6. It is unclear what Kalanick plans to do with the money.
After the share sales, Kalanick still owns more than 71 million shares, or about 4.2 percent of the company.
Kalanick served as Uber CEO until June 2017, when he resigned amid claims the company failed to address sexual harassment and gender discrimination allegations. Dara Khosrowshahi took over the reins of the company in August 2017.
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Shares are down more than 42 percent since Uber went public on May 10, pushing the company’s market cap below $45 billion.