For Uber, a quiet investor becomes a sudden thorn

Benchmark invested in Uber in 2011, putting in an initial $12 mn at a valuation of around $60 mn

For the past week, Uber’s board members have been embroiled in conversations over a thorny question: what to do about Benchmark, the venture capital firm that is one of the ride-hailing company’s largest shareholders.

While Benchmark had long supported Uber’s management, the investor had recently turned against the company’s top echelons. In June, Benchmark helped oust Uber’s co-founder, Travis Kalanick, as chief executive. Last week, the firm escalated its actions against Mr. Kalanick by suing him for fraud and saying he should be removed from Uber’s board. Then on Monday, Benchmark published an open letter to Uber employees intimating that the