On Tuesday, Uber founder Travis Kalanick resigned as CEO of the company, following a shareholder revolt.
Two people with knowledge of the situation told The New York Times that earlier in the day, five of Uber's biggest investors delivered a letter to Kalanick, calling on him to immediately step down so new leadership could take over. After talking with some of the investors, Kalanick agreed to resign, but he will stay on the company's board of directors. Uber has been dealing with allegations of sexual harassment at the company, lawsuits, and a federal inquiry into a tool it used to avoid law enforcement in places where Uber wasn't allowed to operate.
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