Travis Kalanick, the former Uber chief executive who left the company he co-founded almost nine months ago, is back in the headlines, and this time, the man has set himself a different target, focusing on emerging technologies and real estate, among others.
Kalanick announced on 7 March that he was setting up an investment fund, will be called ‘10100’. The overarching theme of the new fund, pronounced "ten-one-hundred", will be to invest in real estate, e-commerce and emerging innovation in China and India, Kalanick stated in a Twitter post.
The fund will oversee for-profit investments as well as non-profit work and focus on education and future of cities, Kalanick stated.
Twitter was abuzz with speculation behind the meaning of the new fund's name. One user suggested that it could be a reference "Googol" or "10 to the power 100."
Kalanick was not immediately available to respond to additional queries regarding his new venture. Kalanick, co-founder the San Francisco-based ride hailing startup Uber, resigned in June under pressure from investors after a string of setbacks.
The ride-sharing firm was also put in the spotlight after a massive data breach was reported, which had apparently happened when Travis was still around.
Most of his upcoming fundings are likely to be paid through his recent stock sales, relinquishing his 29 percent stake in Uber for a staggering $1.4 billion (Rs 9,088 crore approx).
It hardly comes as a surprise that even after quitting his role at Uber, Kalanick sees markets like India and China as his go-to strategy for investment funding.
He has repeatedly talked up the potential and technology value that resides in both these countries, and with his firm 10100, he’ll be part of companies that work in the emerging technology space. Having said that, only time will tell if Travis has found the right rebound from his Uber excursions.
(With inputs from Reuters)
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