Liquidity Public

Inside The Uber S-1: Who Owns What

Editor’s note: Keep an eye out for our upcoming comprehensive analysis of Uber’s S-1. 

Uber’s public S-1 filing is currently setting fire to the tech and finance Internet, making this the perfect moment for some scorekeeping.

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The filing contains a wealth of information about the ride-hailing company, including its revenue and margins and growth metrics that have been the cause of much fascination here at Crunchbase News.

But it also includes facts and figure relating to ownership, which is something else we need to keep an eye on. So if you are the sort of person who cares quite a lot about which venture capital fund will return a superior pile of cash to its LPs, this one is for you.

Fractional Ownership

On page 259 of the Uber S-1, the breakdown of investors can be found. The below table is a snapshot of some of the company’s owners with the biggest stakes:

The company’s two leaders right now, Dara Khosrowshahi, the company’s CEO, and Garrett Camp, co-founder of Uber, have 196,000 and 81,575,000 shares of the company, respectively.

Travis Kalanick, who co-founded the company with Camp and has since left, has 117,505,000 shares.

Uber rewarded its early believers. Benchmark, an early investor that led Uber’s Series A of $11 million in 2011, walked away with 150,079,000 shares, more than each co-founder. Ryan Graves, Uber’s first employee who has since left, owns 33,184,000 shares.

More recent investors, like Saudi Arabia’s Public Investment Fund, walked away with 5.4 percent of the company, or 72,963,000 shares. The Public Investment fund initially invested $3.5 billion in a Series G. Some claimed it was the largest single investment from a foreign government to a venture-backed startup ever. Uber’s involvement with the Saudi Arabia government continues to be a topic of controversy. And SoftBank Vision Fund, which put $9 billion in the company in 2017, predictably had the most ownership, at 222,228,000 shares 

Not everyone got a piece of the pie: First Round Capital, which led $1.3 million into Uber in 2010, and was the first VC backer of the company, did not make this list—presumably because it did not meet the minimum percentage requirement.

Uber has always found a way to pitch to investors. Now, after this filing, it’s officially time to try the pitch deck on the public. 

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