Travis Kalanick, the pugnacious co-founder of Uber, has severed his last ties wi...
- 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.
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. A spokeswoman on Monday said Kalanick has sold his entire stake of more than $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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