ARN News Centre

Uber co-founder steps down from company board

Wednesday, 25 December 2019 08:20

Uber's co-founder Travis Kalanick has cut his last ties with the ride-hailing service.

He resigned from the board and has sold all his shares as he turns his focus to a new venture.

Kalanick reluctantly stepped down as chief executive back in June 2017 following a string of setbacks.

He is currently working on a startup that aims to build large industrial kitchens and lease space to restaurants.

The company known as "CloudKitchens" has already collected $400 million (AED 1.46 billion) in investor funding.

More from Business

UAE-Russia services and investment agreement takes effect

An agreement aimed at boosting trade in services and investment between the UAE and Russia has officially come into force.
UAE backs closer tourism cooperation at BRICS meeting

The UAE has backed plans to strengthen tourism cooperation between BRICS countries at a ministerial meeting in Jaipur, India.
Abu Dhabi DoE expands tech partnerships during US visit

A delegation from Department of Energy - Abu Dhabi (DoE) has concluded an official visit to the United States aimed at expanding partnerships in energy and water innovation, regulation and advanced technology.
US, Canada fail to reach a tariff deal, deepen trade war

The United States and Canada have failed to reach a trade deal late on Friday, and the US said it would impose 50 per cent tariffs on some imports from Canada, an escalation of tensions between the two long-time allies.
Hudayriyat Island tops Abu Dhabi property sales

Hudayriyat Island has topped Abu Dhabi’s real estate market in sales value for a second consecutive quarter.