Uber co-founder steps down from company board

Wednesday, 25 December 2019 08:20

Uber's co-founder Travis Kalanick has cut his last ties with the ride-hailing service.

He resigned from the board and has sold all his shares as he turns his focus to a new venture.

Kalanick reluctantly stepped down as chief executive back in June 2017 following a string of setbacks.

He is currently working on a startup that aims to build large industrial kitchens and lease space to restaurants.

The company known as "CloudKitchens" has already collected $400 million (AED 1.46 billion) in investor funding.

More from Business

US car buyers face higher prices, less choice under Trump's tariffs

Major automakers can deal with US President Donald Trump's tariffs on US auto imports in a number of ways, but all of them lead to higher prices, fewer choices of models or limits on features for consumers, industry experts said.
Emaar Development approves AED 2.7 bln dividend for 2024

Emaar Development shareholders have approved its Board of Directors’ proposal to distribute a dividend of AED2.7 billion ($740 million), representing 68 per cent of the share capital.
Global auto industry stocks slump as 25% tariff on US imports looms

Automaker stocks around the world slumped on Thursday after US President Donald Trump said that he would impose 25 per cent tariffs on all vehicles and foreign-made auto parts imported into the United States.
Jafza expands Logistics Park with AED 90m investment

Jafza is expanding its facilities with a AED 90 million investment in phase 2 of its cutting-edge Logistics Park, adding 360,000 sq ft, in alignment with the UAE's push to grow its logistics sector to AED 200 billion annually over the next seven years.
Trump may give China tariff reduction to get TikTok deal done

US President Donald Trump says he would be willing to reduce tariffs on China to get a deal done with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans.

The Debrief
4:00pm - 7:00pm

Join Dane & Lucy on Dubai Eye 103.8 for The Debrief from 4pm to 7pm, the perfect way to unwind after a busy day at the office.
The Score
7:00pm - 9:00pm

Hosted by Chris McHardy, The Score is your comprehensive guide to the world of sport.

UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the USA
UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
New iPhone Launch - Too Soon For Apple?
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Working From Home or Hardly Working?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?

On Dubai Eye

Is There Sufficient House Supply In UAE
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Noon's First Female Delivery Driver
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!