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What’s more, over time Kalanick had amassed so-called “supervoting shares,” a more powerful class of stock that gave him more votes per share than the one-vote-per-share common stock most other investors held. Kalanick held an enormous amount of supervoting shares, a scenario he engineered in Uber’s earliest days, as did two of his allies, Garrett Camp and Ryan Graves. And his pile of common stock shares was only getting bigger by the day. If Uber employees wished to cash out some of their stock through an internal repurchase program, Kalanick required Uber employees to sell those shares back ...more
Super Pumped: The Battle for Uber
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