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martyb writes:

The New York Times reports:

Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company.

Mr. Kalanick's exit came under pressure after hours of drama involving Uber's investors, according to two people with knowledge of the situation, who asked to remain anonymous because the details were confidential.

Earlier on Tuesday, five of Uber's major investors demanded that the chief executive resign immediately. The investors included one of Uber's biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber's board. The investors made their demand for Mr. Kalanick to step down in a letter delivered to the chief executive while he was in Chicago, said the people with knowledge of the situation.

[...] Mr. Kalanick's troubles began earlier this year after a former Uber engineer detailed what she said was sexual harassment at the company, opening the floodgates for more complaints and spurring internal investigations. In addition, Uber has been dealing with an intellectual property lawsuit from Waymo, the self-driving car business that operates under Google's parent company, and a federal inquiry into a software tool that Uber used to sidestep some law enforcement.

Uber has been trying to move past its difficult history, which has grown inextricably tied to Mr. Kalanick. In recent months, Uber has fired more than 20 employees after an investigation into the company's culture, embarked on major changes to professionalize its workplace, and is searching for new executives including a chief operating officer.

According to The Register:

Kalanick led Uber into fights on many fronts. The company had a strategy of entering markets without regard to regulation, earning it lawsuits all over the world. During one such lawsuit, Uber breached privacy laws. The company also stands accused of stealing self-driving car technology and deliberately targeting government officials who sought to investigate it.

The BBC notes:

Surely the most dramatic fall from grace the start-up world has ever seen, a scalp so big it will have chief executives across this city sitting bolt upright, and thinking: "If Travis can get booted out of Uber... no-one is safe."

What started out as a PR inconvenience has left the company without, to name just a few, a chief executive officer, chief operating officer, chief technology officer and chief financial officer. Uber is in tatters, engulfed by its own aggression.

Mr Kalanick embodied his company's prevailing attitude: success at all costs. It saw Uber dominate the ride-sharing world, his chutzpah enabling the company to attract investment so effectively that last year Uber alone raised more money than the entire UK start-up scene.

But in doing so he didn't play fair. He created a company that deceived local regulators, neglected the well-being of employees, wound-up drivers, troubled investors, obtained a rape victim's medical records and allegedly stole trade secrets from a rival.

See also: c|net

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