Photo by OFFICIAL LEWEB PHOTOS from Flickr
The disgraced co-founder and former chief executive of Uber, Travis Kalanick, is venturing into China and India with his new non-profit investment fund that is called 10100 (pronounced as ten one hundred)
On Wednesday night, Kalanick made the said announcement via Twitter, posting the picture announcement with a caption that says “some news…”
The post of Kalanick stated: “The overarching theme will be about large-scale job creation, with investments in real estate, e-commerce and emerging innovation in China and India.
“Our non-profit efforts will initially focus on education and the future of cities.”
Kalanick expressed an early interest in India and invested Uber into three startups in India last January when he was still involved in the company, totaling at approximately $50,000 (£36,011). The new fund of Kalanick will oversee his non-profit and for-profit investments work, which he said will focus on his “passions, investments, ideas and big bets.”
Ever since stepping down from Uber last June due to a series of scandals. The said scandals include a two-year spying program on Lyft, a rival company, a video of him screaming at an Uber driver who expressed his financial woes because of the treatment of the company of drivers, and allegations of sexual harassment. Kalanick has become an angel investor and an advisor for various, startups that are mainly tech-related.
During the recent months, Kalanick said that he has been “joining boards, working with entrepreneurs and nonprofits.”
The said announcement comes only a few weeks after cashing in his Uber stocks amounting to $1.4b (£1.01b), which followed a series of power consolidation moves by Uber to reduce the amount of influence that Kalanick had over the firm and its board.
Even though he is now more estranged from his company, Uber continues to weather issues that were fomented by Kalanick while he was there, such as covering up a huge cyber attack and stealing some trade secrets from the former self-driving car project of Google which was called Waymo.