Uber co-founder and former CEO Travis Kalanick plans to sell 29 percent of his stake in the ride-hailing service, a news report said Thursday, informs dailymail.co.uk

The deal is part of a transaction with investors including Softbank Group Corp. and would bring Kalanick about $1.4 billion, Bloomberg reported, citing unidentified sources. 

Kalanick, who has a 10 percent stake in the company, has never sold his Uber shares according to the report.

Uber didn't respond to an email seeking comment. 

Kalanick resigned as CEO last year following revelations of sexual harassment in the company, technological trickery designed to hinder regulators and a cover-up of a hacking attack that stole personal information of 57 million passengers and 600,000 drivers.

Uber was valued around $68.5 billion during a 2016 capital investment, but that dropped to somewhere above $48 billion in the SoftBank deal announced last week.

Despite that, early investors stand to make significant gains. 

A consortium led by SoftBank bought $9billion worth of shares last week at a 30 per cent discount.

According to reports last week,Uber is losing more than $1billion each quarter, and a new cash infusion is critical. 

The company is also planning an initial public offering in 2019. 

Kalanick's resignation this past June came at a pivotal, and increasingly problematic, time for the company.

It was not by choice however, with five of the company's biggest investors demanding his resignation according to The New York Times, who obtained a copy of the letter those individuals sent to Kalanick.

In the aftermath of that shocking revolt by the company's primary shareholders, it was revealed that while Kalanick was out as CEO he would remain a member of the Uber board.

'I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,' said Kalanick at the time.

One of the investors who demanded Kalanick step down, Bill Gurley of Benchmark, stepped down from his post on the company's board of directors as well at that time.

Gurley had been pushing for change ever since February, when former Uber employee Susan Fowler wrote about her year working at the company.

Fowler alleged that she and other women at the company were subject to constant harassment by men, and that when she did take complaints to human resources they were always dismissed and nothing was done to change the toxic environment.

She even claimed that at one point an employee with the HR department stated that she might be the problem, and not the men.

It was not just that either, and Fowler also detailed some members of the staff as doing everything they could to rise up in the ranks while sabotaging not only other workers but also the productivity of the company. 

A few months prior to Kalanick's resignation video emerged of him berating an Uber driver who questioned why the company had dropped the prices on its UberBlack service.