In March 2018, Mr. Kalanick announced the creation of an investment fund to finance for-profit and non-profit projects. Called "10100" ("ten-one-hundred")

Sulfur Travis Kalanick to leave Uber board

Former Uber boss and co-founder Travis Kalanick will resign from the company’s board of directors on December 31, the car reservation platform said on Tuesday.

Accused of having encouraged questionable and brutal managerial practices, against a backdrop of sexism and harassment at work, Mr. Kalanick had already had to give up his role as general manager of the group in June 2017.

"Uber has been a part of my life for the past 10 years. As the decade draws to a close, it seemed like the right time for me to focus on my current activities and philanthropic endeavors," said Mr. Kalanick cited in the press release.

In March 2018, Mr. Kalanick announced the creation of an investment fund to finance for-profit and non-profit projects. Called “10100” (“ten-one-hundred”), this fund aims to invest in the real estate sectors, online commerce and in innovative projects in China and India. Non-profit projects are also carried out through this fund, in the fields of education and the future of cities.

“Proud of all that Uber has accomplished”

On Tuesday, Kalanick said he was “proud of all that Uber has accomplished”.
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"I will continue to encourage his future from the sidelines," he also added.

It was in December 2008, on a snowy evening in Paris and when they couldn’t find a taxi, that Travis Kalanick and Garrett Camp had the idea of ​​an application putting drivers and customers in touch. In July 2010, UberCab – shortened to Uber in October – put its first passenger in contact with a driver in San Francisco, before launching in Paris the following year.

On Tuesday Ron Sugar, the independent chairman of the board, thanked Travis Kalanick “for his services as a director on the board”, highlighting his “unique expertise” that has transformed the Uber startup into a global business .

A sign that the former boss wanted to distance himself from Uber in November, documents filed with the stock market policeman had shown that he had sold 21% of his shares for some 547 million dollars.

The Uber platform had 101 million monthly active users (+ 26%) in the third quarter. But it is struggling to convince the market that it can achieve profitability since its chaotic IPO in early May.

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