Former Uber CEO Travis Kalanick to launch investment fund called ‘10100’ | HT Tech

Former Uber CEO Travis Kalanick to launch investment fund called ‘10100’

The fund will oversee for-profit investments as well as non-profit work and focus on education and future of cities

By: REUTERS
| Updated on: Mar 08 2018, 17:28 IST
Former Uber Chief Executive Officer Travis Kalanick leaves the San Francisco federal court during a Waymo-Uber autonomous car secrets trial in San Francisco, California, U.S., February 7, 2018.
Former Uber Chief Executive Officer Travis Kalanick leaves the San Francisco federal court during a Waymo-Uber autonomous car secrets trial in San Francisco, California, U.S., February 7, 2018. (REUTERS)

Travis Kalanick, the former Uber chief executive, announced on Wednesday in a Twitter post that he is going to start an investment fund called 10100.

The overarching theme of the new fund, pronounced "ten-one-hundred", will be to invest in real estate, ecommerce and emerging innovation in China and India, Kalanick said in a tweet.

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The fund will oversee for-profit investments as well as non-profit work and focus on education and future of cities, Kalanick said. Twitter was abuzz with speculation behind the meaning of the new fund's name.

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One user suggested that it could be a reference "Googol" or "10 to the power 100."

Kalanick was forced out as the company's CEO in July over a number of controversies and mis-steps, including allegations of widespread sexual harassment against women in the company.

Susan Fowler, a former site reliability engineer, levelled numerous allegations of sexism against her former superiors in a blog post. This led to further allegation from other employees, prompting Uber to conduct internal investigations.

Kalanick still remains on the company's board of directors. Kalanick co-founded Uber in 2009 and made the ride-hailing app one of the world's most valuable companies.

In his 2016 trip to India as Uber CEO, Kalanick had urged ex-servicemen in India to avail entrepreneurship opportunities with the company as driver partners. Kalanick also felicitated some drivers for their extraordinary service to the country.

(with inputs from IANS).

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First Published Date: 08 Mar, 17:27 IST
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