Uber is “very likely” to finalize a deal with Japanese tech giant Softbank within a week, company board member Arianna Huffington said Monday.
Speaking at the Wall Street Journal‘s D.Live technology conference in California, Huffington revealed little about the final price, but said the investment from Softbank would bring a direct investment to Uber at its last private valuation, along with a secondary investment of additional shares.
“The Softbank investment is so important,” Huffington said at the event. “Having them on your cap table is very important when they’re also investing in so many of our competitors around the world.”
Softbank (SFTBY) has mulled over an investment in Uber for months and wants a major discount for buying a stake in the company, according to recent reports. The deal with Softbank will mark a significant step for Uber’s new CEO Dara Khosrowshahi, who recently took over the company following the ouster of Travis Kalanick.