Can Uber Survive as Co-Founder Kalanick is Driven Out?
San Francisco-based Uber Technologies has revolutionized the ride-hailing app industry, spawning copycats in markets such as Singapore, China, and the Middle East. In addition, Uber attracted capital from all sorts of entities, including sovereign funds.
Uber had propelled itself to a US$ 70 billion unicorn, attracting Saudi money and operating in more than 70 country markets. Uber is one of the largest private companies in the world. Uber’s aggressive approach to business had led it to dominant many markets and creating many enemies, especially in the world of traditional taxis.
Uber Co-Founder Travis Kalanick issued a letter of resignation on June 20th, after the company found itself with continual headwinds stemming from employee harassment claims, corporate misbehaviors reported and what many in the U.S. media dub as an “aggressive” workplace culture. Kalanick had taken an indefinite leave of absence in June 2017.
[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute