Travis Kalanick loses the power struggle. However, Uber gets a chance to succeed. The SoftBank investment, which puts $1 billion to $1.25 billion into Uber and hands $9 billion to existing investors, appears to be going forward.
…the clout of certain Uber shareholders — including, most significantly, its former chief executive, Travis Kalanick, who is a board member — will be reduced, according to people briefed on the deliberations, who asked to remain anonymous because the conversations were confidential. Other proposed measures, including one that would have posed hurdles to Mr. Kalanick’s returning as chief executive, were dropped before the meeting.