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.

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