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10 billion and would include changes to Uber’s board operations, according to a person with knowledge of the deal who was not authorized to discuss it publicly. Uber spokesman said in a statement. Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance. Uber’s existing shares, the source familiar with the deal said. If the deal closes, San Francisco-based Uber will in turn enact corporate governance changes that hew closely to an overhaul its board approved last month.

A source with knowledge of the matter said the deal comes with a resolution to have an initial public offering of stock by 2019. First off, the deal would bring in money, which Uber could use to help fund expansion and operations amid growing competition from U. Running a ride-hailing company isn’t cheap. Low fares attract more passengers, but they force ride-hailing firms to dip into their fundraising hauls to subsidize drivers.