Friday, November 22

Tag: travis kalanick

4May By AnkitaNo Comments
News

Travis Kalanick barred from Uber IPO at NYSE

Uber's current CEO is barring the founder and Ex-CEO of Uber Travis Kalanick to take part in the opening bell ceremony held at the New York Stock Exchange next week. In a report published Friday in one of the leading USA newspaper, Uber CEO Dara Khosrowshahi (kahs-row-SHAH'-hee) has decided that Travis Kalanick is not welcome to share the exchange's balcony when Uber begins trading as a public company next Friday. Kalanick co-founded Uber and was CEO until his ouster in 2017 following a series of damaging revelations that sullied the company's reputation among consumers. Those included reports of rampant internal sexual harassment and allegations Uber stole self-driving car technology. The blowback from the problems helped Uber rival Lyft pick up ground in the US something Ube...
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Another Top Uber Executive Leaves the Company
18May By Sheldan RungasamyNo Comments
News

Another Top Uber Executive Leaves the Company

Jeff Holden, Uber’s chief product officer decided to quit the American cab-hailing company to pursue another opportunity, the company confirmed to Recode. Holden joined Uber’s headquarters in 2014 coming from Groupon. The timing of his departure seems very inappropriate since he was leading the firm’s flying car initiative, called Elevate, that would look like giant drones taking off vertically. In fact, last week, Uber hosted its second consecutive flying car annual summit, where the project got a very good reception from CEO Dara Khosrowshahi who stated that he would be willing to lose money to see this project take off.     “We’ll take short-term losses in order to bring long-term business,” CEO Dara Khosrowshahi was quoted saying. “If over the short term we ne...
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Uber Co-Founder Travis Kalanick Buys Out Firm and Becomes CEO
21Mar By Sheldan RungasamyNo Comments
ACQUISITION

Uber Co-Founder Travis Kalanick Buys Out Firm and Becomes CEO

After announcing a capital investment fund called ‘10100’ on May 7th intended for investment in startups, Travis Kalanick, former CEO of Uber Technologies sacked by his company in June last year is back on track in the entrepreneur world. My new gig... pic.twitter.com/vpD528cdyf — travis kalanick (@travisk) March 20, 2018 Kalanick announced today that he has acquired a real estate company called City Storage Systems for $150 million. His first action after acquiring the firm was to install himself as CEO. The investment represents approximately 10% of his total wealth. In January, Kalanick sold $1.4 billion worth of Uber shares to SoftBank Group Corp. City Storage Systems is a startup that focuses on redesigning troublesome real estate properties like parking lots or abandoned stri...
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Travis Kalanick Launch 10100 Funds to Invest in Indian Startups
9Mar By Sheldan RungasamyNo Comments
News

Travis Kalanick Launch 10100 Funds to Invest in Indian Startups

Nine months after being ousted from one of the world’s most successful startups, Uber founder Travis Kalanick is back in business with a brand new project. Kalanick is now launching a 10100 fund from his personal fortune to invest in startups, “for-profit and not-for-profit work.” Kalanick has already started working on investing in startups by making several investments over the past few months and working with various company boards and engaging with entrepreneurs and non-profits. He made angel investments in startups such as software firm Pantheon, social media platform Blippy, online artwork community Deviant Art and medical startup Kareo. However, the interesting part is that Travis Kalanick is going to focus a large sum of his investments fund, named 10100 (pronounced ten-one-h...
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Uber Names Ex-Orbitz Executive As COO
21Dec By reutersNo Comments
News

Uber Names Ex-Orbitz Executive As COO

Uber Technologies Inc on Wednesday named the former chief executive of Orbitz to be its chief operating officer, second-in-command to new CEO Dara Khosrowshahi, who has been revamping the leadership team in hopes of turning around the ride provider and preparing for an IPO. Barney Harford, who was CEO of online travel service Orbitz Worldwide Inc, will join Uber on Jan. 2 and will be tasked with overseeing global ride-hailing operations, marketing, customer support and the food delivery business. A familiar face at Uber, he been an adviser since October, Khosrowshahi said in an email to employees. With Khosrowshahi flying to Europe and South America to address regulatory issues, Harford will have an important role in Uber’s day-to-day business. He must also help figure out how to...
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Uber Should Have Given Court An Ex-employee’s Letter About ‘Fraud And Theft’ In Waymo Case
16Dec By reutersNo Comments
USA

Uber Should Have Given Court An Ex-employee’s Letter About ‘Fraud And Theft’ In Waymo Case

Ride hailing company Uber was obligated to turn over to a U.S. federal judge a letter from a former employee that told of the company’s “fraud and theft” and mentioned evidence of stolen trade secrets nailed “like a scalp” to the wall, a court official said Friday. Special master, John Cooper, assigned to a lawsuit against Uber Technologies Inc by Alphabet Inc’s self-driving car unit, Waymo, released a report on Friday stating the company should have produced the letter and was wrong in keeping it from the court. The letter, from former Uber security analyst Richard Jacobs alleging Uber engaged in illegal and unethical competitive tactics and had stolen trade secrets, is at the heart of Waymo’s lawsuit against Uber.  The letter was sent to Uber’s in-house lawyer in May and shared ...
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Uber Hacking Cover-Up Collides With SoftBank Deal, Triggers Probes Worldwide
23Nov By reutersNo Comments
USA

Uber Hacking Cover-Up Collides With SoftBank Deal, Triggers Probes Worldwide

A newspaper advertisement for an Uber Technologies Inc stock sale was juxtaposed on Wednesday with a report that the ride-service provider had covered up a data hack – something of a metaphor for Uber, a company with boundless investor interest, but whose penchant for rule-breaking has led to a series of scandals. The stock sale advertised in the New York Times will enable Uber investors to sell their shares to Japanese investor SoftBank, a critical deal for the company whose problems included building software to spy on competitors and to evade regulators and being investigated in Asia for paying bribes. Uber on Tuesday said that it had paid hackers $100,000 to destroy data on more than 57 million customers and drivers that was stolen from the company – and decided under the previou...
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Uber Paid Hackers $100,000, Concealed Data Stolen From 57 Million Accounts
22Nov By reutersNo Comments
News

Uber Paid Hackers $100,000, Concealed Data Stolen From 57 Million Accounts

Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the data of some 57 million accounts of the ride-service provider, the company said on Tuesday. Discovery of the company’s cover-up of the incident resulted in the firing of two employees who led Uber’s response to the hack, said Dara Khosrowshahi, who was named CEO in August following the departure of founder Travis Kalanick. Khosrowshahi said he had only recently learned of the breach, which happened in October 2016.  "None of this should have happened, and I will not make excuses for it," Khosrowshahi said in a blog post on the company website. The company’s admission that it failed to disclose the breach comes as Uber seeks to recover from sexual harassment allegations and mul...
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Uber Locks On Multibillion Dollar Deal With Japanese SoftBank
13Nov By RishabhNo Comments
USA

Uber Locks On Multibillion Dollar Deal With Japanese SoftBank

[dropcap]J[/dropcap]apanese multinational telecommunications and Internet corporation SoftBank Group has reached a multibillion-dollar deal with San Francisco based Uber Inc, it confirmed in a statement. Although the details of the deal have not been yet disclosed, but as per the reports, the deal could be worth up to $10 billion of Uber's stocks. It is also estimated that this deal would be a resolver of legal battles between Uber's former CEO Travis Kalanick and prominent shareholders. Venture capital firm Benchmark, an early investor with a board seat in the ride-services company, and Kalanick have reached an agreement over terms of the SoftBank investment. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment,” an Uber spokesm...
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Uber Stripped Of London License
22Sep By reutersNo Comments
USA

Uber Stripped Of London License

London stripped Uber on Friday of its license to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world’s biggest cities. (more…)
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