Uber Founder and Former CEO Leaves Company Management

Former Uber CEO and co-founder Travis Kalanick announced on Tuesday that he will be leaving the board of directors of the transportation company via electronic platform next week.

Since November, when he was allowed to do so, Kalanick has sold Uber shares worth more than $ 2.5 billion, divesting more than 90 percent of his stake.

Revenue from the sale of securities may be useful in financing Kalanick’s new business, a start-up called CloudKitchens. This business consists of renting catering spaces to establishments that are partners of the Uber Eats, DoorDash and Deliveroo home delivery networks.

Kalanick, who stepped down as CEO of the company in the summer of 2017, said in a statement that “Uber has been part of my life for the past 10 years. By the end of the decade, and with the listed company, it seems give me the right time to focus on my current business and philanthropic activities. ”

“I am proud of all that Uber has achieved and will continue to cheer for its success,” he said.

Since the initial public offering, Uber shares have devalued by more than 30 percent, reducing the US-based company’s market value to about $ 52 billion, compared with $ 76 billion. upon entering the purse.