Can he clean up his image and make a fresh start?
Travis Kalanick has been both a prodigy in the tech world, as well as an enfant terrible. His unconventional and abrasive management style resulted in his resignation last June from Uber, a company he co-founded.
The 41-year-old isn’t planning his retirement just yet. Last week he took to Twitter to announce his plans to introduce his own investment fund called “10100 Fund” (pronounced as ten-one-hundred). The name of the fund is reportedly a reference to Kalanick’s street address of his childhood home – we’ll leave it to you to speculate whether Kalanick is trying to signal to the world that he is making a fresh start. Some observers have speculated that the name could instead be a reference to his goal to invest in companies that have between 10 to 100 employees and the capability to scale rapidly.
Some news… pic.twitter.com/urFBrb9aCV
— travis kalanick (@travisk) March 7, 2018
His statement on Twitter laid out a broad plan of the areas in which Kalanick is actively seeking to invest. These include real estate, e-commerce, job-creation companies and will focus on countries like China and India.
While he maintains that the fund will be a for-profit driven venture, he’s also indicated that there will be a non-profit aspect to it dedicated to socially responsible projects in the field of education and which will also focus on the future of cities.
Earlier this year, Kalanick was reportedly offering up for sale nearly a third of his stake in Uber for $1.4 billion, an amount which would leave him flush with cash to get this venture off the ground.
Kalanick will, of course, have to do much to clean up his image that was tarnished by the time he stepped down as CEO of Uber last year. Indisputably though, there are few people as driven and capable as Kalanick who can handhold a startup and take it from a fledgeling enterprise to decacorn status in a matter of years. Time to polish up that presentation and prepare to pitch.