Uber co-founder Travis Kalanick severs last ties to company

PTI, Dec 25, 2019, 10:32 AM IST

New York: About a decade after co-founding Uber, Travis Kalanick on Tuesday severed his last ties with the ride-hailing giant, announcing he would exit the board of directors at the end of 2019.

Kalanick, who was pushed out as chief executive in 2017 amid revelations about the controversial business practices that accompanied the company’s stunning rise, will resign from the board of directors effective December 31 “to focus on his new business and philanthropic endeavors,” Uber said in a statement.

“Uber has been a part of my life for the past 10 years. At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits,” Kalanick, 43, said in a statement released by the company.

“I’m proud of all that Uber has achieved, and I will continue to cheer for its future from the sidelines.”

In March 2018, Kalanick announced the creation of a new investment vehicle, 10100, that will focus on both for-profit and non-profit ventures. The key areas of focus for the fund include real estate, e-commerce and innovation in China and India.

Among his most recent ventures, Kalanick has developed the so-called “ghost kitchen” company, CloudKitchens, which will rent communal kitchens near population centers that can prepare food for delivery services.

Even before Tuesday’s announcement, Kalanick had taken steps to further distance himself from Uber, selling a large portion of his shares in early November.

The youthful Kalanick has been the personification of the go-go Silicon Valley disruptor associated with visionary entrepreneurship that upends traditional businesses, accompanies by unfettered growth.