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SoftBank Knew of Data Breach at Uber

posted by Fnord666 on Friday November 24 2017, @08:27PM   Printer-friendly
from the foreshadowing dept.

takyon writes:

SoftBank learned of a data breach at Uber while it was attempting to invest in the company:

Uber Technologies Inc said on Thursday that it discussed a massive data breach with potential investor SoftBank Group Corp ahead of going public with details of the incident on Tuesday.

The ride-hailing service is trying to complete a deal in which the Japanese company would invest as much as $10 billion (£7.52 billion) for at least 14 percent of Uber, mostly by buying out existing shareholders.

"We informed SoftBank that we were investigating a data breach, consistent with our duty to disclose to a potential investor, even though our information at the time was preliminary and incomplete," Uber said in a statement.

"We also made clear that our forensic investigation was ongoing," Uber said. "Once our internal inquiry concluded and we had a more complete understanding of the facts, we disclosed to regulators and our customers in a very public way."

Maybe they should wait for the stock to collapse first.

Also at Bloomberg.

Previously: SoftBank to Invest Billions in Uber

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  • (Score: 1, Insightful) by Anonymous Coward on Friday November 24 2017, @11:44PM (4 children)

    by Anonymous Coward on Friday November 24 2017, @11:44PM (#601186)

    From the beginning, they pack up the board with heavy-weight political figures. They keep getting mega bucks investments from the likes of Saudi state funds.

    They spent money on poaching CMU robotics researchers, autonomous vehicles which is decades away and won't resemble anything like today's taxi industry or uber/lyft.

    And yet, mega multinational players keep giving them gob loads of money, despite the fact that they are losing billions each quarter, getting sued, banned, etc.

    Only thing I can think is, Uber has become a geopolitical enterprise, not an economic business.

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