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Uber adds former NSA General Counsel to lead its security team

Uber Technologies has named former Director of the National Counterterrorism Center Matthew Olsen as its Chief Trust and Security Officer in a new move which marks efforts by the company to boost security for its data crucial global ride-hailing network.

As announced by its CEO Dara Khosrowshahi on Tuesday, Olsen will be replacing former cybersecurity chief Joe Sullivan who left the company after revelations of a massive data breach concerning tens of millions of users was outed and now heads security at web-performance and security startup CloudFlare.

Thrilled to have Matt Olsen on board as #Uber Chief Trust and Security Officer. He has more than earned the respect of our team at all levels while working with us over the last few months - https://t.co/Xxssp1Wa3r — dara khosrowshahi (@dkhos) August 14, 2018Olsen has served as chief legal adviser to the NSA in addition to holding various leadership positions at government agencies and joined Uber last year as an adviser with him now …

All the winners from The Walmart-Flipkart Deal


Image credit: Flipkart

We recently profiled Walmart's majority acqusition of Flipkart right here on The Techie but just some moments after we want to go into detail about which company/who made a killing from this Walmart sale.

Prior to this major acquisition, Flipkart had raised $7.3 Billion total from Investors and had made 10 acquisitions, include its previous big round of a $1 Billion financing from Softbank and its raising of huge amounts of cash in loans from various Indian banks, It had a number of 21 major investors including Tencent, eBay,  Microsoft, Softbank, Tiger Global, South African based Naspers and a host of other investors.

Starting with co-founder Sachin Bansal who sold his entire stake for approximately $1 Billion but will have to pay 20% personal gains tax in his home country India will end up walking away with about $800 million, He apparently sold his entire stake because Walmart only wanted one founder on Flipkart's Board, He also stated via a Facebook post that he will take time to finish some of his personal projects, catch up with gaming and brush up his coding skills after this acquisition.



Co-founder Binny Bansal also make quite a killing selling $104 million of his shares but also retaining a huge stake worth $881 million in the company.


Image credit: Flipkart

We recently profiled Walmart's majority acqusition of Flipkart right here on The Techie but just some moments after we want to go into detail about which company/who made a killing from this Walmart sale.

Prior to this major acquisition, Flipkart had raised $7.3 Billion total from Investors and had made 10 acquisitions, include its previous big round of a $1 Billion financing from Softbank and its raising of huge amounts of cash in loans from various Indian banks, It had a number of 21 major investors including Tencent, eBay,  Microsoft, Softbank, Tiger Global, South African based Naspers and a host of other investors.

Starting with co-founder Sachin Bansal who sold his entire stake for approximately $1 Billion but will have to pay 20% personal gains tax in his home country India will end up walking away with about $800 million, He apparently sold his entire stake because Walmart only wanted one founder on Flipkart's Board, He also stated via a Facebook post that he will take time to finish some of his personal projects, catch up with gaming and brush up his coding skills after this acquisition.



Co-founder Binny Bansal also make quite a killing selling $104 million of his shares but also retaining a huge stake worth $881 million in the company.

Softbank also made a killing on its huge and very recent $2.5 Billion investment which has now increased by a multiple of 1.6 to a huge $4 Billion .

Naspers invested a good $600 million over several rounds in Flipkart and has now gotten a good return of almost 4 times its investment after pocketing $2.2 Billion from the sale of its shares to Walmart.

U.S based hedge fund Tiger Global Management led by Chase Coleman III made a whooping 430% return on its total $1 Billion investment in Flipkart, pocketing a huge $3.3 Billion on its share sale to Walmart and staying with a remaining $1 Billion stake it didn't sell, This is the highest VC/Private equity return in India's history and was suprisingly pulled off by a U.S firm.

Accel partners, The U.S venture capital firm also made over $800 million after investing a total of $100 million in Flipkart over different rounds, The estimate is provided since its exact stake is not actually known.

Flipkart's employees are also big winners in this sale, The company has made a fortune for many of its employees with a $2 Billion stake in total owned by its many employees with over $1 Billion vested currently which Walmart has agreed to purchase in a share buyback deal.







Softbank also made a killing on its huge and very recent $2.5 Billion investment which has now increased by a multiple of 1.6 to a huge $4 Billion .

Naspers invested a good $600 million over several rounds in Flipkart and has now gotten a good return of almost 4 times its investment after pocketing $2.2 Billion from the sale of its shares to Walmart.

U.S based hedge fund Tiger Global Management led by Chase Coleman III made a whooping 430% return on its total $1 Billion investment in Flipkart, pocketing a huge $3.3 Billion on its share sale to Walmart and staying with a remaining $1 Billion stake it didn't sell, This is the highest VC/Private equity return in India's history and was suprisingly pulled off by a U.S firm.

Accel partners, The U.S venture capital firm also made over $800 million after investing a total of $100 million in Flipkart over different rounds, The estimate is provided since its exact stake is not actually known.

Flipkart's employees are also big winners in this sale, The company has made a fortune for many of its employees with a $2 Billion stake in total owned by its many employees with over $1 Billion vested currently which Walmart has agreed to purchase in a share buyback deal.





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