Former Uber CEO Travis Kalanick leaves federal court in San Francisco after testifying in the Waymo v. Uber trial.
James Martin/CNETFormer Uber CEO Travis Kalanick has a new venture. It’s a fund called 10100 that will focus on making for-profit investments, as well as some nonprofit work.
In an announcement on Twitter on Wednesday, Kalanick said he’s been thinking over the past few months about what’s next for him after Uber.
“I’ve begun making investments, joining boards, working with entrepreneurs and nonprofits,” he wrote. “Today I’m announcing the creation of a fund called 10100 (pronounced ‘ten-one-hundred’), home to my passions, investments, ideas and big bets.”
Last June, Kalanick was unceremoniously ousted from Uber, a company he co-founded nine years ago. During his reign at Uber, he was accused of fostering a toxic corporate culture, which led to a slew of scandals that plagued the company for much of 2017.
Kalanick remains on Uber’s board of investors, but after a consortium led by Japanese internet giant SoftBank Group bought a 20 percent stake in the ride-hailing business in January his voting power became diminished. However, as part of the deal, he also earned $1.4 billion.
For his investment fund, Kalanick said he wants to focus on creating jobs.
“The overarching theme will be about large-scale job creation, with investments in real estate, e-commerce, and emerging innovation in China and India,” Kalanick wrote on Twitter on Wednesday. “Our nonprofit efforts will initially focus on education and the future of cities.”
Kalanick didn’t immediately respond to a request for comment, and his representative declined to comment beyond what was announced on Twitter.
Stay tuned, this story is developing.
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