Brash Uber co-founder Kalanick leaves board to focus on industrial kitchens

REUTERS: Travis Kalanick, the pugnacious co-founder of Uber, has severed his last ties with the ride-services company, resigning from the board and selling all his shares as he turns his focus to a new venture creating"ghost kitchens" for food delivery services.

"Very few entrepreneurs have built something as profound as Travis Kalanick did with Uber," Uber Chief Executive Dara Khosrowshahi said in a statement, crediting Kalanick's"vision and tenacity." A spokeswoman on Monday said Kalanick has sold his entire stake of more than US$3 billion worth of shares in Uber, adding that the final regulatory form will be filed on Thursday after Christmas. Axios earlier reported the sale of final shares.

"Many investors will be glad to see this dark chapter in the rear view mirror," Wedbush analysts Ygal Arounian and Daniel Ives said in a note.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber founder Kalanick leaves board of directorsUber Technologies Inc on Tuesday said its founder and former CEO Travis Kalanick will resign from the company's board of directors by the end of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Uber founder Kalanick leaves board of directorsUber Technologies Inc on Tuesday said its founder and former CEO Travis Kalanick will resign from the company's board of directors by the end of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Kitchen Culture to repay S$150,000 loan in sharesKitchen Culture to repay S$150,000 loan in shares.
Source: BusinessTimes - 🏆 15. / 51 Read more »

China's industrial output to grow around 5.6% year-on-year in 2019: MinistryChina's industrial output is expected to grow around 5.6per cent in 2019, the Ministry of Industry and Information Technology said on Monday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China's industrial output to grow around 5.6per cent year-on-year in 2019: ministryChina's industrial output is expected to grow around 5.6per cent in 2019, the Ministry of Industry and Information Technology said on Monday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »