Last month, Uber disclosed that it had covered up a security breach that had compromised the personal data of 57 million rider and driver accounts, and SoftBank was able to talk down the price of its investment.
SoftBank's investment is a sign of support from an influential investor for new Chief Executive Dara Khosrowshahi. The companies said they would issue a statement on the outcome of the tender offer.
SoftBank has bought a major stake in Uber at a steep 30pc discount, after a chaotic year in which the ride-hailing firm faced a string of scandals, saw its chief executive resign and was hit with United Kingdom city bans.
The price offered for the shares valued the firm at $48bn and was a discount to Uber's most recent fundraising round, but for some of the firm's earliest investors could provide a big payoff. Its Softbank Vision Fund is a almost $100 billion investment fund snapping up stakes in emerging technology companies around the world, with roughly half the money targeted for investments in the U.S.
SoftBank, a Japanese tech and telecoms consortium, has acquired a 13-15 percent stake in Uber, according to the Wall Street Journal. Employees and investors allegedly tendered shares representing 20% of the company.
SoftBank, which has made investments around the world in ride-hailing companies like China's Didi Chuxing and India's Ola, also agreed invest $1.25 billion to buy shares from Uber at the previous $69 billion valuation, a move that was seen as a concession to some shareholders who hoped to maintain the company's previous high-water mark as it now readies itself for an initial public offering.
As part of the agreement, SoftBank will obtain two seats on Uber's expanded 17-person board, which still includes former CEO Travis Kalanick. SoftBank will appoint Vision Fund head Rajeev Misra to the board, along with others associated with the massive fund, according to the report.