Uber CEO Travis Kalanick Resigns After an Investor Mutiny


Travis Kalanick has resigned from his job leading Uber Technologies, giving up on his effort to hold onto power as a torrent of self-inflicted scandals enveloped him and the global ride-hailing leviathan he co-founded.

Pressure from investors, who’ve poured more than $15 billion into a company that has burned through billions, ultimately did what the board could, or would, not: It convinced the 40-year-old chief executive to step aside. Five of Uber’s major investors, including Fidelity and Benchmark, asked Kalanick to step aside in a letter to him entitled “Moving Uber Forward,” according to people familiar with the matter.

Kalanick, who grew Uber’s bookings to $20 billion last year, has played a starring role in most of its controversies.

Travis Kalanick has resigned from his job leading Uber Technologies, giving up on his effort to hold onto power as a torrent of self-inflicted scandals enveloped him and the global ride-hailing leviathan he co-founded.

Pressure from investors, who’ve poured more than $15 billion into a company that has burned through billions, ultimately did what the board could, or would, not: It convinced the 40-year-old chief executive to step aside. Five of Uber’s major investors, including Fidelity and Benchmark, asked Kalanick to step aside in a letter to him entitled “Moving Uber Forward,” according to people familiar with the matter.

Kalanick, who grew Uber’s bookings to $20 billion last year, has played a starring role in most of its controversies.

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