First Round Capital among investors that sought Kalanick's ouster

Tom Paine



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Uber CEO Travis Kalanick resigned today, after receiving a letter from five leading Uber investors requesting (demanding) it.

One of those investors was First Round Capital, an early seed investor that was involved with Uber from almost its beginning. First Round Capital had not previously publicly criticized Uber, as far I can determine.

Garret Camp / Wikipedia

The concept of Uber was first presented to First Round by founder and Chairman Garrett Camp, who First Round's Josh Kopelman had helped fund at StumbleUpon. First Round co-led a $1.25M Angel round in Uber in 2010.



First Round's stake in Uber is likely worth billions.

Don't count out Kalanick making a return at some point. He retains a board seat and a substantial stake.

A court filing made public Wednesday revealed that Kalanick knew of files Anthony Levandowski had taken from Google, though he told him not to bring those with him to Uber.