Uber chief Travis Kalanick resigns

Following a series of controversies that rocked Uber Technologies Inc., its Chief Executive Officer Travis Kalanick has resigned, the company confirmed on Tuesday. The world's largest privately backed startup has also become the world's most valuable startup. Uber got involved in several controversies including allegations of sexual harassment and the use of software to bypass regulators. The company, founded by Kalanick in 2009, increased its revenue to $3.4 billion in the first quarter.

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