OREANDA-NEWS. LetterOne (L1), an investment company, has sold its stake in Uber taxi aggregator, the company said in its 2019 financial report. The exit from Uber was completed in February, for the share the company earned $ 173 million.

L1 is owned by businessmen Mikhail Fridman, German Khan and Alexei Kuzmichev. In February 2016, the company invested $ 200 million in Uber. It was not specified exactly when the holding invested in the American company and what share it received. At the end of 2015, investors valued Uber at $ 62.5 billion, based on which L1 could get a share in less than 3% of the company.

According to the founder of Dsight Arseny Dabbaha, L1 could leave Uber because she no longer sees the opportunity to make money on a startup. “Many who invested in Uber in recent years before the IPO hoped to earn at least twice as much in the next three years. However, the situation with Uber was not very successful, and most likely the company decided to sell the stake in order to invest the received funds more profitably”, says Dubbach.