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Uber CEO Kalanick resigns under investor pressure

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Kalanick, who was in Chicago at the time then consulted with some of the investors and board members as a last resort before finally agreeing to step down.

The resignation of co-founder Travis Kalanick as CEO under pressure from investors (instead of the originally announced leave of absence) is only the most dramatic of various dramatic turning points in the disorderly narrative arc of Uber.

Glamour reached out to Uber regarding Kalanick's resignation and the investigations into the company's corporate culture; a representative was not immediately available for comment.

He called the company "Boob-er". The profanity-laced confrontation was caught on a video that surfaced in February.

In a statement, Kalanick said he loved Uber "more than anything in the world", but had agreed to investors' request for him to quit. In May, his mother was killed and his father hurt in a boating accident on a California lake.

Neither Sandberg nor Uber commented on the media speculation. Disney's chief operating officer Tom Staggs is also under consideration. From the accusations of abrasive handling of drivers that drive its business forward, to a culture that promotes casual racism and sexism inside the its tall offices, many believe Kalanick is to be blamed for things going more than out of hand at Uber. "There are leadership vacuums in every key function".

The chief of Uber has resigned. Numerous company's top executives were promoted internally after their bosses left, including heads of business, policy and communications, and product.

Venture capital firm Benchmark, whose partner Bill Gurley is one of Uber's largest shareholders and sits on its board, plus investors First Round Capital, Lowercase Capital, Menlo Ventures and Fidelity Investments, all pressed Kalanick to quit. Like Kalanick, he was tied to the mishandling of an Indian rape case and attended an outing to a karaoke bar in South Korea that triggered a human resources complaint.

"Uber couldn't make a credible claim that it was committed to the changes it has to make if he was hovering in the wings, waiting to return as CEO", said Erik Gordon, a technology and entrepreneurship expert at the University of Michigan's Ross School of Business.

Uber posted a $708 million loss in the most recent quarter on revenue of $3.4 billion. Donahoe, who took over eBay in 2008 as now Hewlett Packard CEO Meg Whitman's replacement, headed up the e-commerce company's marketplace for three years before becoming top dog. Uber itself has been valued at $69 billion. The next CEO of Uber has an opportunity to wipe the slate clean with all the many people who have been burned by the aggressive startup. He said Uber's next moves will show if the company is willing to improve.

The tipping option has always been available in the app of rival on-demand auto service, Lyft, will not begin on Tuesday in Seattle, Houston, and Minneapolis. Kalanick's efforts in making Uber a game-changer can not be ignored.

Uber was launched with a "founder-friendly" structure that essentially gives nearly complete control of running the company to those who originally launched it. Kalanick, former CEO Ryan Graves, and Uber co-founder Garret Camp effectively control the entire company as each share of their stock has ten votes behind it compared to the one, or none, other investors in the company hold. By stepping away, he's taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber's history.

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