Travis Kalanick who had previously served as the CEO of Uber which he helped create announced that he will resign next week from the company. The speculations surrounding his resignation were born from the news of him selling his shares in the company. It had taken more than two months for him to sell his shares of $2.5 billion but his spokesman said he had sold off the last of them.
Travis Kalanick had resigned from his position as CEO in 2017. He took the action following the many s*xual harassment accusations that the company faced. Uber had recently paid $4.4 million for settlement of this case as we reported.
But this is not entirely all that the ride-hailing service faces. Numerous bans and fines had been obstructing the proper flowing of the company’s activities in some countries. Some experts speculate that Kalanick may be trying to get his money out of the company while he can.
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However, it will be wrong to write Uber off just yet. According to Forbes, since 2010, Uber has taken passengers on about 15 billion trips worldwide. Despite the several bans and restrictions, the company is still quite popular and still getting customers.
What is next for Travis Kalanick?
In his own words, the former CEO of Uber said he will be focusing more on his new business as well as giving back to the community. A partial quote from an Uber release reads:
“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. I will continue to cheer for its future from the sidelines.”
It shows that while Travis Kalanick will totally be out of Uber, he will always wish it the best. Travis Kalanick had bought City Storage Systems in 2018 for allegedly $150 million. The company owns CloudKitchens, a firm that leases space to restaurants serving food delivered by Uber Eats and Deliveroo.
Although not popular yet, the Los Angeles company seems to be doing well. When Travis finally leaves Uber completely, we will likely hear more about this start-up in the future.
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