Son, whom I worked during his first foray into the U.S. venture investing world, is placing big infrastructure bets globally. The price per share SoftBank ultimately pays will be convoluted, because Uber wants to protect its previous valuation. Masoyoshi Son is aggressive enough to swallow the risk. I remember being in the room when he bought Comdex from Shel Adelson for about $300 million more than he would ultimately sell it a few years later. “I want the relationships [with tech vendors],” he said, and he got them.
The green light comes as a 30-day due diligence process that began in mid-August draws to a close. Uber’s shareholders will now deliberate over who will choose to sell their stake in the company — the so-called “tender offer” process that will begin soon will give investors a clearer picture of how much they can expect to be paid per share.