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Uber Makes Way for Didi Chuxing

Japan's SoftBank has completed buying about 20% stake in Uber, valuing the ride-sharing startup at $48 billion, down from $68 billion used in the last funding round. This means that Uber is no more the world’s most valuable startup. The leadership crises and sexual harassment scandals have cost some really rich people big money there.

SoftBank Group Corp. won its bid to buy a major stake in Uber Technologies Inc. at a steep discount to the company’s previous valuation in a deal that gives the world’s biggest tech investor sway over the most valuable U.S. startup. Uber investors and employees tendered shares equal to about 20% of the company in an offer by a SoftBank-led consortium that values Uber at $48 billion—a roughly 30% discount to its most recent valuation of about $68 billion

With this updated down-round, China's Didi Chuxing (valued at $56 billion) is now well ahead of Uber in the race of the most valued private technology startup.This is significant because Uber pioneered the ride-sharing sector, was category-king, and has been out-competed .Simply, the new silk road is wider than most had imagined.

Sometimes outside issues lead to downfall of a promising business, even a business empire. Reputation is very hard to acquire, but can be lost in a giffy. No business school can in imbued in a anyone a pure heart or sound mind. You can only achieve that through personal effort, choosing good over bad. Whether your name is Uber, Wells Fargo, or any of the big guys denying one misdeed or the other, they all stemmed from individuals' malfeasance, leading to corporate disrepute. Imagine someone misbehaving in one part of the world, and another person from the other side losing money. Hope Uber becomes better after this period, it's never nice to lose your beloved position, especially for individual's misdeed.

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