Wednesday, 23 January, 2019

Former Uber CEO Travis Kalanick begins new endeavor

Travis Kalanick Former Uber CEO Travis Kalanick begins new endeavor
Nellie Chapman | 08 March, 2018, 11:44

Travis Kalanick announced on Wednesday that he is starting his own investment fund.

"The over-arching theme will be about large-scale job creation, with investments in real estate. Our non-profit efforts will initially focus on education and the future of cities", he explained. It all seems quite vague at the moment and it seems Kalanick isn't ready just yet to provide further details.

While Kalanick left Uber under a cloud of controversy, he nonetheless managed to build Uber into a $69 billion powerhouse, the world's largest privately held tech company. His new firm, pronounced "ten one-hundred", encapsulates Kalanick's "passions, investments, ideas and big bets", he said in a statement.

The former Uber CEO has so far, made angel investments in a slew of startups globally including software firm Pantheon, social media platform Blippy, online artwork community Deviant Art and medical startup Kareo whose board he serves on as well, amongst others. Given the SoftBank Group valuation of $48 billion for Uber (a huge discount from its last fundraising valuation), that would mean the 29 percent stake that Kalanick was looking to sell would be worth about $1.4 billion.

The former CEO of Uber, who only recently resurfaced publicly since his June 2017 ouster, wrote that he has been working on what his next move will be over the last few months.

We've reached out to Kalanick for comment and will update this once we hear back.

Uber Technologies, Inc co-founder Travis Kalanick has stepped down as chief.