Travis Kalanick has resigned from his job leading Uber Technologies Inc., giving up his effort to hold onto power as a torrent of self-inflicted scandals enveloped him and the global ride-hailing leviathan he co-founded.
Pressure from investors, who’ve poured more than $15 billion into a company that has burned through billions, ultimately did what the board could, or would, not: It convinced the 40-year-old chief executive officer to step aside. Five of Uber’s major investors, including Fidelity Investments and Benchmark, asked Kalanick to step aside in a letter to him titled “Moving Uber Forward,” according to people familiar with the matter.
