Former Uber CEO Travis Kalanick to launch investment fund called '10100'

  • Former Uber CEO Travis Kalanick to launch investment fund called '10100'

Former Uber CEO Travis Kalanick to launch investment fund called '10100'

On March 07, the former CEO of San Francisco-based Uber said he is setting up an investment fund called 10100 (pronounced ten-one-hundred), which will back nascent companies in India and China. He goes on to say in his tweet that this new entity will take care of his investments that are of the for-profit kind as well as the not-for-profit investments.

"Over the past few months, I've started thinking about what's next". I've begun making investments, joining boards, working with entrepreneurs and non-profits, ' Kalanick said.

Interestingly a large part of the investments from the fund, named 10100 (Ten one Hundred) will be focussed towards innovations in India and backing Indian startups.

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The announcement on a new investment venture fund by Travis Kalanick comes as a fresh chance for the ex-Uber CEO to revive his image after the scandalous exit.

The notoriously pugnacious former Uber executive already sits on at least two boards, including Uber's and, most recently, Kareo, a medical startup he was an angel investor in.

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

Kalanick made $1.4 billion when he sold a chunk of Uber stock in January.

Although he is now further estranged from his company, Uber continues to weather issues that Kalanick fomented while there, such as covering up a massive cyber attack and stealing trade secrets from Waymo, Google's former self-driving vehicle project.

Uber's adjusted pro-forma EBITDA for the fourth quarter previous year was negative US$475 million, according to documents seen by Bloomberg.

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.