Uber co-founder Kalanick walks away from the company with R42 billion

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Controversial former CEO severs ties with the ride services company to focus on industrial kitchens.

Travis Kalanick, the pugnacious co-founder of Uber, has severed his last ties with the ride-services company, resigning from the board and selling his stake of roughly $3 billion . He will turn his focus to a new venture creating “ghost kitchens” for food delivery services.

Kalanick's bellicose style turned Uber into the world's largest ride-services company, revolutionised the taxi industry and challenged transportation regulations worldwide. But his brashness was also blamed for a string of scandals and complaints over his leadership, resulting in a shareholder revolt to push him out.

 

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