Former Uber CEO Travis Kalanick launches venture fund 10100
Former Uber CEO and co-founder Travis Kalanick is launching a new investment fund called 10100 (pronounced as ten-one-hundred). The venture fund will focus on creating large-scale jobs vis-à-vis innovations from countries like China and India and in the verticals of real estate and e-commerce. "Our non-profit efforts will initially focus on education and the future of cities," Kalanick said. Here are the details.
The investment fund is home to Kalanick's passions, investments, ideas
Kalanick's power over Uber diminishes
Even though Kalanick resigned from Uber in July last year, he remained on the company's board of directors and held a 10% stake in the ride-hailing giant, still influencing its day-to-day operations. However, with the recent investment deal between SoftBank and Uber, Kalanick's shares got diluted to 6% and his control on the board and its voting power diminished.
Kalanick can finally focus on other ventures
On the flipside, Kalanick also acquired $1.4 billion in cash as part of the SoftBank deal, leaving him with enough money to strategize his shift away from Uber and towards newer ideas. It might be possible that 10100 wants to invest in start-ups that have between 10 and 100 employees, which is considered as the magic growth stage.
