Kalanick, who stepped down as CEO of Uber in June 2017, said Wednesday that he’s now involved in something else other than ride hailing and this time it’s an investment fund called 10100.
Pronounced “ten one hundred,” will focus on real estate, web based business/ecommerce, and other innovative ideas in China and India. The former Uber CEO announced this on Twitter and other social media networks.
The emphasis on two of the world’s quickest developing economies will take Kalanick back to where Uber confronted some of its hardest difficulties.
You’ll recall that Uber had to sell of its Chinese business to rival Didi Chuxing in 2016 because it could not break into the market due to fierce competition from the latter. Apple didn’t make it easier for them by investing a reported $1b in Uber’s Chinese rival under Kalanick. This emboldened other regional Uber competitors like India’s Ola to up their games and so the story goes on till his eventual exit from the world’s biggest ride hailing he built into a $70b empire.
Notwithstanding looking to profit from ventures, Kalanick said his new fund will also include his philantropic venture like education.
Kalanick helped to establish Uber in 2009 and made it one of the most valuable startup before being pushed out as CEO a year ago after shocking revelations of abuse and cover-ups in the organisation.
Uber just settled a self-driving technology idea theft with Google’s Waymo. The hiring of former Google engineer Anthony Levandowski who was accused of stealing trade secrets when he was at Google.
It is now clear that Kalanick (a seasoned leader at least with building startups) was preparing for his rebound. Just a week ago, it was revealed that he had joined the board of a tech startup, Kareo. According to Axios which reported on this, he is an investor and went to the same school, UCLA as the founder Dan Rodrigues.