Former Uber Executive Emil Michael to File for $250 Million SPAC IPO – Sources

  • SPAC to File S-1 with SEC as Soon as Friday, Seeks Target in Technology Sector
  • Emil Michael was Previously Chief Business Officer at Uber Technologies, Inc.
  • SPAC’s Special Advisors Include Dr. Eric Schmidt, Former CEO of Google

By John Jannarone and Jarrett Banks

Former Uber Technologies, Inc. executive Emil Michael plans to file for an initial public offering of $250 million for a blank check company whose special advisors include Dr. Eric Schmidt, the Silicon Valley billionaire who was previously CEO of Google and Executive Chairman of Alphabet Inc.

The special purpose acquisition company, or SPAC, is called DPCM Capital, Inc. and will file its S-1 prospectus with the Securities and Exchange Commission as soon as Friday, according to people familiar with the matter. The SPAC plans to acquire a company in the technology sector, these people said.

Mr. Michael, Chairman and CEO of DPCM Capital, was Chief Business Officer at ridesharing giant Uber, where he oversaw significant expansion in countries including Russia and China. In China, he led the merger of Uber with domestic ridesharing operator Didi Chiuxing. He also helped Uber raise billions of dollars privately before the company went public in 2019.  Mr. Michael could not be reached for comment.,,,,


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