Disgraced Uber head Travis Kalanick is starting a new venture in China and India

Diamond Naga Siu
Waymo-Uber Technology Theft Trial Continues In San Francisco
The former Uber chief executive Travis Kalanick, announced his new non-profit investment fund 10100 — pronounced ten one hundred — last night that hopes to stir "large-scale job creation." (Source: Getty)

Travis Kalanick, the disgraced former chief executive and co-founder of Uber, is wheeling into India and China with his new non-profit investment fund 10100 — pronounced ten one hundred.

He made the announcement Wednesday night via Twitter, captioning the picture announcement with “some news…”

“The overarching theme will be about large-scale job creation, with investments in real estate, e-commerce and emerging innovation in China and India,” read Kalanick’s post. “Our non-profit efforts will initially focus on education and the future of cities.”

Read more: Transport for London wants access to Uber's greatest competitive asset

He expressed a previous interest in India and invested Uber into three Indian startups last January when he was still at the helm, totalling about $50,000 (£36,011). Kalanick’s new fund will oversee his for-profit investments and non-profit work, which he said focus on his “passions, investments, ideas and big bets.”

Since resigning from Uber last June amid a bevy of scandals — sexual harassment allegations, a two-year spying program on rival company Lyft and a video of him yelling at an Uber driver who expressed financial woes due to the company’s treatment of drivers, just to name a few — Kalanick has become an advisor and angel investor for multiple, mainly tech-related startups.

Kalanick said in the recent months, he has additionally been “joining boards, working with entrepreneurs and nonprofits.”

His announcement comes just a few weeks after cashing in his $1.4b (£1.01b) Uber stocks, which followed a string of power consolidation moves by Uber to decrease the amount of influence Kalanick had over the company and its board.

Although he is now further estranged from his company, Uber continues to weather issues that Kalanick fomented while there, such as covering up a massive cyber attack and stealing trade secrets from Waymo, Google’s former self-driving car project.

Read more: Uber's ex-CEO is selling almost a third of his stake in the firm for £1.4bn

Related articles