Regional News

Travis Kalanick, former Uber CEO, launches new investment fund

By Editor 1 Comments NEWS, Regional News

Travis Kalanick, Uber's CEO and founder. (Photo courtesy GQ Magazine)

Former CEO and co-founder of Uber, Travis Kalanick has announced a new investment fund on his Twitter account.

In a recent tweet, Kalanick wrote that the theme of the 10100 fund “will be about large-scale job creation, with investments in real estate, e-commerce and emerging innovation in China and India,” and include a non-profit arm focusing on “education and the future of cities.”

Kalanick was ousted from Uber last summer after a series of scandals tarnished the ride-hailing company. In January, he reportedly sold almost one-third of his stake in Uber for $1.4 billion to Japan’s SoftBank Group Corp. 9984, +1.30%. He remains on Uber’s board of directors.

There was speculation that the name 10100 refers either to the stage when startup companies have between 10 and 100 employees or his childhood address. But others noted that among truck drivers, the code 10-100 apparently refers to taking a bathroom break.

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