SoftBank Group Corp. ( SFTBY) , the Japanese tech conglomerate, agreed on Thursday to invest $7.7 billion for a roughly 15% stake in Uber Technologies Inc., including $1.25 billion in fresh capital.
The SoftBank investment, which is expected to close in January, paves the way for Uber to conduct an initial public offering before the end of 2019.
Ride-hailing company Uber has had a tumultuous 2017 with a series of allegations about a sexist corporate culture that led to the ouster of its founder and chief executive, as well as unfavorable government decisions and revelations of hacked customer accounts. 
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