A group of investors led by SoftBank Group closed a deal with Uber Technologies on January 18, 2018, making SoftBank the largest stakeholder in the ride-hailing firm and providing a much-needed boost to controversy-ridden Uber. The deal includes a large purchase of shares from existing Uber investors and employees at a discounted valuation for the company of $48 billion. SoftBank has added two representatives to Uber's board of directors: Rajeev Misra, who is chief executive of SoftBank's Vision Fund,; and Marcelo Claure, Sprint president and CEO and a member of SoftBank's board of directors As part of the terms of the deal, the company will add four independent directors to its board, limit some early shareholders' voting power and slash the control wielded by co-founder and former CEO Travis Kalanick, who remains on the board.