Uber CEO Dara Khosrowshahi wants investment from Warren Buffett

Steve Pope  Getty Images

Steve Pope Getty Images

High-profile USA investor Warren Buffett's plan to invest more than USD3 billion in Uber Technologies Inc fell apart earlier this year following disagreements over the terms and size of the deal, Bloomberg reported Wednesday.

Buffett himself confirmed to CNBC that earlier this year he was discussing the investment with the Uber CEO Dara Kosroushahi, who was in the process of rebranding the company.

Khosrowshahi said that securing a Buffett investment remains a personal goal, but while talks may one day resume, Uber's "enormous growth trajectory" bearing "considerable risk" may not align with Berkshire's strategy.

Buffet later confirmed that his company Berkshire Hathaway had indeed held talks with Uber. "Some of the reported details are not correct, but it's true that Berkshire had discussions with Uber".

The proposed deal, first reported by Bloomberg and The Wall Street Journal, citing unnamed sources, had echoes of Buffett's $5 billion bet on Goldman Sachs during the depths of the 2008 financial crisis.

Buffett's Berkshire Hathaway Inc would have provided a convertible loan to Uber that would have protected Buffett's investment should the Silicon Valley ride-hailing company hit financial crisis, the report said.

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But the deal's ultimate failure isn't necessarily significant for Uber.

Uber did not immediately return CNBC's requests for comment.

Uber Chief Executive Officer Dara Khosrowshahi proposed decreasing the size of the deal to $2 billion, giving Buffett a smaller share of the company.

In the end, the deal fell through as the two sides could not agree on terms, according to the report.

"I don't think we necessarily fit in with the typical Warren Buffett investment", he said. The company announced that several investors will seek to buy $400 million to $600 million of Uber stock at a $62 billion valuation.

"What we talk about in terms of social value investing is really more about how different partners come together to collaborate", Buffett told Liz Claman during a FOX Business interview on Thursday.

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