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Uber gives staff a way to cash out with no IPO in sight

Published Thu, Feb 16, 2017 · 09:50 PM

San Francisco

MANY long-time employees of Uber Technologies Inc are multi-millionaires, at least on paper. But with no initial public offering in sight and a strict policy blocking most private share sales, they're stuck in limbo.

However, there's a little-known option available to Uber loyalists looking to cash out. Those who work at the San Francisco company for at least four years can sell as much as 10 per cent of their shares, people familiar with the matter said.

The programme has a built-in incentive to entice staff to stick around. The seller gets paid out over many months and must remain at Uber during that time, said the people, who asked not to be identified because they weren't authorised to di…

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