Ex-Uber CEO Travis Kalanick reveals new project

Ex-Uber CEO Travis Kalanick reveals new project

Kalanick, who sat at the helm of the ride-hailing app until getting pushed on in June, announced a new venture capital fund on Wednesday called "10100".

"It will be overseeing my for-profit investments as well as my non-profit work", he said.

He said the theme of the fund would be large-scale job creation, focusing on real-estate, e-commerce and innovations from countries including China and India.

"Our non-profit efforts will initially focus on education and the future of cities", said Kalanick, saying that the fund was home to his "passions, investments, ideas, and big bets". Kalanick who has been working towards his next journey over the past few months, said he has been making investments, working with several company boards as also engaging with entrepreneurs and non-profits.

Kalanick's stated interest in job creation and the future of cities are noteworthy given his outsize impact on both as the chief executive of Uber.

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Kalanick's investments in the Indian startup ecosystem will be keenly watched, where Uber competitor Ola is looking to raise upto $1 bn as it shores up cash to beat its US-based rival here. Kalanick says the move will allow the ride-sharing company to go back to building itself rather than become distracted by another fight.

Kalanick was ousted as Uber's chief executive last June and pushed out by the company's board a year ago amid a litany of regulatory problems, driver and consumer scandals, and court cases.

Uber's embattled cofounder and ex-CEO Travis Kalanick has found his next gig.

Prior to his resignation, Kalanick ordered an investigation into sex harassment and gender discrimination allegations within Uber.

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