• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
TechUber Technologies

Scandal-Plagued Uber Hits the Road to Reassure Global Regulators

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
November 27, 2017, 7:16 PM ET
Add Fortune on Google for similar content.

Uber executives are traveling the globe to reassure regulators that the company is changing the way it does business, after a massive data breach became the latest controversy to hurt the ride-service firm’s reputation.

Uber Technologies Inc is also continuing talks with Japan’s SoftBank Group over an investment, Brooks Entwistle, Uber’s recently appointed chief business officer for Asia Pacific, told Reuters on Monday.

Uber disclosed last week that it covered up an October 2016 data breach involving 57 million customers and about 600,000 drivers. The company said it paid two hackers $100,000 to destroy the stolen data and keep the matter a secret.

The revelation, made by Uber’s new CEO Dara Khosrowshahi in a blog post, prompted governments in countries including Britain, the United States, Mexico, Australia and the Philippines to launch probes into the breach and Uber’s handling of the matter.

The global backlash will test Uber’s new collaborative approach to regulators, a stark change from the rule-breaking culture created by former CEO Travis Kalanick.

“We have changed tacks in so many ways in dealing with regulators, dealing with governments,” Entwistle said in an interview in Tokyo, where he is meeting Japanese officials and potential business partners.

Nevertheless, Chicago Mayor Rahm Emanuel and Kimberly Foxx, the public prosecutor for Cook County, Illinois, said on Monday they filed a consumer fraud lawsuit against Uber for its failure to protect the data of its customers and drivers, accusing the company of violating local laws by failing to promptly disclose the breach.

“We are committed to changing the way we do business, putting integrity at the core of every decision we make, and working hard to regain the trust of consumers,” Uber said in a statement.

Get Data Sheet, Fortune’s technology newsletter.

Also on Monday, fresh questions came from U.S. lawmakers demanding an explanation for the company’s handling of the breach. Republican senators John Thune, Orrin Hatch, Jerry Moran and Bill Cassidy sent a letter to Khosrowshahi seeking answers about the data theft and cover-up, which they called “a serious incident that merits further scrutiny.” The senators requested a response from Uber by Dec. 11.

Hatch chairs the Senate Committee on Finance and Thune chairs the Commerce Science and Transportation Committee.

In a separate letter sent Monday, Senator Mark Warner, a Democrat and advocate of the technology industry including the on-demand sector that includes Uber, sent a letter to Khosrowshahi with detailed questions about Uber’s security systems and rationale for covering up the breach.

Softbank deal

The disclosure of the 2016 data breach at a time when Uber is trying to bring in SoftBank as an investor has spurred speculation about the price of the deal.

SoftBank and Dragoneer Investment Group agreed on Nov. 12 to lead a group that would invest as much as $10 billion in Uber, people familiar with the deal previously told Reuters. The group plans to directly invest $1 billion to $1.25 billion at Uber’s current $69 billion valuation, and also buy at a lower valuation shares held by existing investors and employees. The goal is to take a 14 percent to 17 percent stake.

Uber has plans to disclose the pricing of the SoftBank deal in formal tender offers to existing investors early this week, sources told Reuters. It will likely take a few weeks for investors to decide whether to take the offer.

“The transaction is still underway and it’s an extraordinary validation that an investor like SoftBank would look at Uber,” Entwistle said.

Uber said on Friday it had informed SoftBank about the data breach prior to informing the public. However, “our information at the time was preliminary and incomplete,” a spokesman said. “We also made clear that our forensic investigation was ongoing.”

A person familiar with the matter said SoftBank had already factored any negative impact from the breach into its negotiations with Uber and did not expect the hack to have a significant impact on price.

However, a separate source familiar with the matter said SoftBank could still use Uber’s situation as leverage to secure better terms for the investment. The person said SoftBank has not yet made a final decision on whether to renegotiate.

A SoftBank spokesman declined to comment.

Regional plans

SoftBank has become a prolific investor in ride-hailing firms across Asia, including Southeast Asia’s Grab, China’s DiDi Chuxing and India’s Ola, leading to expectations it could drive consolidation in the region.

While Uber sold its business in China to DiDi last year, it remains committed to operating in the broader region for years to come, said Entwistle, who joined the company in August.

The firm has not given up on the Japanese market, which has barred non-professional drivers from offering taxi services, and is working on partnering with traditional taxi firms, he said.

Uber hopes the 2020 Tokyo Olympics could provide a venue to demonstrate the value of ride-sharing firms in a potentially lucrative market, he said.

“We are innovating and in some markets that will take longer and we realize that,” Entwistle said.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Big Short legend Steve Eisman says everyone is buying the wrong AI stocks
InvestingFinance
Big Short legend Steve Eisman says everyone is buying the wrong AI stocks
By Shawn TullyJune 27, 2026
2 hours ago
Hacker in a dark hooded jacket holding a smartphone displaying an incoming unknown call while working on a laptop
CybersecurityScams
Job scams are getting more sophisticated, and they’re costing Americans millions
By Jacqueline MunisJune 27, 2026
2 hours ago
Qualcomm’s big AI gamble: Breaking Nvidia’s chips stronghold 
AIChips
Qualcomm’s big AI gamble: Breaking Nvidia’s chips stronghold 
By Phil WahbaJune 27, 2026
3 hours ago
Sam Altman and Donald Trump.
AIOpenAI
OpenAI agrees to stagger rollout of its most powerful model to only Trump-approved customers
By Eva Roytburg and Beatrice NolanJune 26, 2026
14 hours ago
gr
PoliticsElections
Anthropic and OpenAI waged a $27 million proxy war in a Manhattan congressional race. The winner told them both to get lost
By Sasha RogelbergJune 26, 2026
14 hours ago
fire
Europeclimate change
Greece tackles climate change wildfire risk with satellite network that can spot a blaze the size of a parking space
By Derek Gatopoulos and The Associated PressJune 26, 2026
16 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
2 days ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
3 days ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
1 day ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
Economy
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
2 days ago
Current price of oil as of June 26, 2026
Personal Finance
Current price of oil as of June 26, 2026
By Joseph HostetlerJune 26, 2026
21 hours ago
The richest 20% are the only ones powering the U.S. economy, says top economist, but their prospects are entirely reliant on teetering stock prices
Economy
The richest 20% are the only ones powering the U.S. economy, says top economist, but their prospects are entirely reliant on teetering stock prices
By Eleanor PringleJune 26, 2026
22 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.