Travis Kalanick: The Rise And Fall Of Uber's Controversial Co-Founder

Travis Kalanick is the co-founder and former CEO of Uber. You remember Uber, right? It’s that company that allows you to hail a car through an app to whisk you to and from bars, restaurants, one night stands, and airports. Remember bars, restaurants, one night stands, and airports?! Really hoping those come back in a major way in 2021.

Travis Kalanick was a controversial figure at Uber and in the business world at large. He resigned from Uber in June 2017 following a series of damning reports that detailed the company's alleged unethical culture. Travis reportedly ignored rampant sexual harassment at the company for years. It didn’t help that just a few months before resigning, an Uber driver released a video in which Travis could be seen and heard berating the driver. He just generally came across as a massive douche bag who obviously would have sat back and done nothing while his employees were being harassed.

Travis was replaced as CEO by Dara Khosrowshahi in August 2017. Travis remained a member of the company’s Board of Directors. Uber went public in May 2019. It ended its first day of trading at $41.57. Over the next few months Uber’s share price slowly slipped into the mid $20s. In December 2019 it was revealed that Travis had resigned entirely from Uber, removing himself from the board and all other associations. At this point, Travis also revealed that he had spent the last several weeks selling off basically his entire stake in Uber. He sold his shares in the range of $27 to $30 per share, generating proceeds of around $2.7 billion.

Table of Contents

• Biography of Travis Kalanick
• Controversies Surrounding Travis Kalanick
• Uber's IPO and Kalanick's Exit
• Travis Kalanick Today

Biography of Travis Kalanick

Travis Kalanick was born in 1976 in Los Angeles, California. He graduated from the University of California, Los Angeles, where he first developed his entrepreneurial spirit. After college, he founded his first company, Scour, which was a peer-to-peer file-sharing service. Although that venture didn't last long, it laid the foundation for his future successes.

In 2009, Kalanick co-founded Uber with Garrett Camp. The idea was simple yet revolutionary: use technology to make hailing a ride as easy as tapping a button on your smartphone. Under Kalanick's leadership, Uber grew rapidly, expanding to cities worldwide and reshaping the transportation industry.

Controversies Surrounding Travis Kalanick

Throughout his tenure at Uber, Kalanick faced numerous controversies that painted him in a negative light. Reports of a toxic workplace culture emerged, highlighting issues of sexual harassment and discrimination. Kalanick himself was accused of fostering an environment where such behavior was tolerated.

One of the most infamous incidents involved a video that surfaced in 2017, showing Kalanick berating an Uber driver. This incident, along with other allegations, ultimately led to his resignation. It was clear that Kalanick's leadership style and the company culture he created were under intense scrutiny.

Uber's IPO and Kalanick's Exit

Uber went public in May 2019, generating significant interest from investors. However, the stock's performance was lackluster, with shares dropping below their initial offering price in the following months. Kalanick had already stepped away from the company, having sold most of his shares for approximately $2.7 billion.

In hindsight, Kalanick's decision to sell when he did seemed well-timed as Uber's shares later surged to an all-time high. Had he held onto his shares longer, he could have reaped even greater financial rewards.

Travis Kalanick Today

As of now, Travis Kalanick has moved on from Uber, focusing on new ventures. His net worth remains substantial, estimated at around $3 billion, but the controversies that colored his time at Uber linger in the public consciousness. Kalanick's story serves as a cautionary tale about the complexities of leadership and the impact of corporate culture.

Uber continues to thrive, adapting to the challenges posed by the pandemic and embracing new opportunities. Kalanick's legacy, while mired in controversy, is also one of innovation in the tech industry. As the world gradually returns to normal, both Uber and Kalanick's stories will undoubtedly evolve.