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Crunch Report | Benchmark Sues Travis Kalanick

August 13, 2017August 13, 2017 NewsEditor $169.5, Acquisiton, Benchmark, crunch, crunch report, daily, Disrupt, Facebook, fayteq, hamze, Hands On, lawsuit, MillionTech, News, recap, report, review, saved, Silicon Valley, soundcloud, TechCrunch, Technology, tito, tito hamze, Travis Kalanick

Benchmark sues former Uber CEO Travis Kalanick Facebook buys computer vision startup focused on adding objects to video Credits Written by: Tito Hamze, John MannesHosted by: Tito HamzeFilmed by:Tito hamzeEdited by: Tito Hamze Notes: I dont know what to wear on Crunch Report (Its a hard decision and I suck at dressing myself). If you are a startup andwant to me to wear something mail me an XL T-shirt and Ill wear it in an episode. Im not going to mention the company on the shirt in the episode but…

Odds and Ends

Uber investor Shervin Pishevar petitions Benchmark to step down from board and sell some of its stock

August 13, 2017August 13, 2017 NewsEditor Benchmark, Uber

Shortly after a group of Uber shareholders asked Benchmark to relinquish its spot on Ubers board of directors, Sherpa Capitals Shervin Pishevar is petitioning Benchmark via Change.org to remove itself from Ubers board. The petition also asks Benchmark to sell at least 75 percent of its stock so that the firm no longer has rights to appoint members to Ubers board of directors. We have investors ready to acquire these shares as soonas we receive communication from Benchmark that they are willing to withdraw their lawsuitand sell a minimum of…

Odds and Ends

Uber shareholder group asks Benchmark to step down from board following Kalanick suit

August 12, 2017August 12, 2017 NewsEditor Benchmark, Travis Kalanick, Uber

In what is rapidly devolving into an all-out brawl on the board of the worlds highest-valued private company, a group of Uber shareholders have asked the venture capital firm Benchmark to step down from the board of directors. This move comes only a day after Benchmark took the aggressive step of filing suit against Ubers former CEO Travis Kalanick, arguing that the founder had violated his fiduciary duty to the company and had committed fraud by seeking to increase his power over Uber for his own selfish ends. Their suit…

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What was Benchmark thinking?

August 12, 2017August 12, 2017 NewsEditor Benchmark, Travis Kalanick, Uber

Yesterday, Benchmark, the powerful venture firm and a majorUbershareholder, filed a lawsuit against the companys recently ousted CEOTravis Kalanick in a remarkable move. The suit seeks to remove Kalanick from the board, while eliminating three additional board positions that it says Kalanick sought (and won) approval for last year, partly by withholding crucial information from the board. The central issue: When Kalanick resigned as CEO, he also resigned from his board seat, but he quickly re-appointed himself to one of those outstanding and fraudulently procured seats, says Benchmark. It now…

Odds and Ends

Travis Kalanick reportedly sought to reassert control at Uber after ouster

August 6, 2017August 6, 2017 NewsEditor Benchmark, Softbank, Travis Kalanick, Uber

Just under two months after resigning from Uber, former CEO Travis Kalanick has reportedlyasked some former colleagues if they would support him in a potential shareholder battle, according to a new report by The Information. Youll periodically find these kinds of proxy fights happening at public companies, but after his ouster, it appears that Kalanick still may want to try to gain back some control at Uber. The Information reports that Kalanick isnt currently pursuing a shareholder battle. This comes amid reports that Softbank is looking to invest in the…