Benchmark's Bill Gurley, who led the firm's Uber investment, will stop doing new deals this year

in mid-2017, after a series of embarrassing stories surfaced about the executive's behavior. Benchmark then sued Kalanick for fraud and breach of contract, claiming he made "material misstatements" to the board and hid crucial information to gain more control. The suit was later dropped."Everything that happened this summer was a very difficult decision for us," Gurley said, alluding to the removal of Kalanick.

Gurley has spent over two decades at Benchmark. Prior to his career in venture capital, he worked as an internet analyst on Wall Street at Deutsche Bank, leading coverage of the

benthompson called it.

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