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Uber founders "jump off the boat" and start selling shares

by Ace Damon
Uber founders "jump off the boat" and start selling shares

Uber has been going through a lot of difficulties in recent weeks for several reasons. First, the company's shares fell considerably after its public offering expired, revealing that there is no interest in the company from investors.

This triggered the same reaction from its founders, Travis Kalanick and Garrett Camp. Both entrepreneurs are selling company stock as hotcakes. In just one week, Kalanick sold $ 700 million in Uber stock.

Garrett Camp, one of the founders of Uber

During this week, Camp followed Kalanick's footsteps and began selling his shares. According to the US trading and exchange commission, Camp has sold more than 500,000 shares, considerably more than Kalanick.

As such, Garrett seems to really want to get rid of his stake in the company as soon as the stock sale totaled $ 13 million. It is important to point out that none of the entrepreneurs hold positions (CEO, CFO) at Uber so in theory they can "jump out" at will.

The next few years could be decisive for Uber

All technology companies go through ups and downs throughout their existence. The point is that seemingly promising companies like Uber, Apple and Google often lure their investors with a premise of success that doesn't always materialize.

Uber's business idea is certainly profitable and has changed the private transport industry forever. However, the company continues to have negative quotes on the stock market, where each share is worth $ 26.51, today.

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