Travis Kalanick, who built Uber into a ride-hailing giant only to be ousted as CEO over the company's sexist “bro” culture, is cashing out. Kalanick disclosed Tuesday that he has sold off all his Uber stock — estimated at more than $2.5 billion — and is resigning from the board of directors, severing
NEW YORK — Travis Kalanick, who built Uber into a ride-hailing giant only to be ousted as CEO over the company's sexist “bro” culture, is cashing out.
Uber, based in San Francisco, transformed the way people get around and the way they make a living, too, turbocharging the gig economy and undermining the taxi industry. Its nearly 4 million drivers around the globe have logged 15 billion trips since 2010, when Kalanick and Garrett Camp came up with the idea of hailing a ride from a smartphone after a trip to Paris when they couldn't find a taxi.
A former Uber engineer, Susan Fowler, leveled sexual harassment and sexism allegations in a 2017 blog post, saying a boss — not Kalanick — had propositioned her and higher-ups had ignored her complaints. Kalanick called the accusations"abhorrent" and hired former U.S. Attorney General Eric Holder to investigate. Holder recommended reducing Kalanick's responsibilities.
During Kalanick's tenure, The New York Times revealed that Uber used a phony version of its app to thwart authorities in cities where it was operating illegally. Uber's software identified regulators who were posing as riders and blocked access to them. The U.S. Justice Department is investigating. Tesla founder Elon Musk has had too loose a grip on his Twitter habit and has been fined by the Securities and Exchange Commission for misleading investors with a tweet. He was also sued for defamation, but ultimately cleared, for going on Twitter and calling a British cave explorer “pedo guy" — short for “pedophile.”
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