Photo via AP Images

Uber is looking for a new investment deal to raise some cash and shift power away from former-CEO Travis Kalanick’s remaining interest, and it just got an offer that would cut its recent valuation by $20 billion. That’s quite the Cyber Monday steal.

Earlier this month, Uber approved an offer by Softbank Group for a multi-billion dollar investment, with at least $1 billion committed at Uber’s recent $69 billion valuation and any additional investment at a renegotiated price. Bloomberg reports that Softbank Group and other investors involved in the potential deal have now proposed an additional investment at a company valuation of “just” $48 billion, cutting Uber’s value by 30 percent.

Here’s more from Bloomberg:

The price moves Uber a step closer to executing one of the largest private stock salesever. The expansion of the ride-hailing company’s board and a number of other governance reforms have been attached to passage of the stock deal, upping the stakes. Locking in the investment from SoftBank has been a top priority for new Uber Chief Executive Officer Dara Khosrowshahi.

The deal isn’t done, however. Shareholders will need to sell at the $48 billion price. While it’s 30 percent less than the current valuation, the offer would represent a significant windfall for many early investors. If shareholders don’t agree to sell in sufficient numbers, SoftBank could raise the price or walk away.

A number of Uber shareholders have agreed to sell shares as part of the deal, the people said.

Earlier reports indicated the potential investors were interested in up to $9 billion at this lowered price, which would drastically increase the investment group’s power among Uber’s shareholders.

It’s insane to imagine that Uber, a company which is not profitable and doesn’t seem to want to be profitable, could be valued so steeply. It’s also insane to imagine investors would want to take on the financial risk of a company like Uber, who just recently lost its founding CEO and only has solid plans for self-driving Volvos and flying cars. Plus there’s all that horrible PR, like delaying news of a massive security breach.

Of course, consumer data is more valuable than gold in today’s market, and having access to information like consumer spending, shopping, and traveling habits could be very valuable indeed.

Bloomberg also reports that Softbank, a Japanese company, may seek to use its influence in global markets to make deals with Uber’s foreign competitors.

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If this deal goes through, it will be one of the largest private stock sales ever. Uber’s current stockholders could also reject the lowered valuation in hopes of a better deal, but it already seems like some parties within Uber are looking to cash out. If they invested early enough, they’ll be mega-millionaires anyway.