FIRST AIRED: August 18, 2017

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Transcript

00:00:00
>> This is the tricky balance->> The man forced out is Uber CEO now, fighting to keep what he has left, his spot on the companies board. Travis Kalanick calling a lawsuit against him by one of the company's top investors, a public and personal attack without merit in court documents filed late on Thursday.
00:00:18
Kalanick claiming the suit is part of a larger scheme to fully oust him from the company he helped found, and take away what is rightfully his. Venture capital firm Benchmark Capital, which claims to own 13% of Uber and control one-fifth of the voting power, last week sued Kalanick to force him from the board.
00:00:36
It's a rare effort by a silicon valley investor to take down the central figure of its own hugely successful investment. Uber last year was valued at $68 billion, that means Benchmark's initial $12 million investment in the ride hailing app is now worth 9 billion. But Kalanick's leadership came under fire again and again.
00:00:56
He relented under investor pressure and surrendered the CEO spot, but retained his right to fill three seat on the board. That wasn't enough for Benchmark which appears to want him gone completely. In an unusual move, Benchmark sent a letter to Uber employees this week, claiming Kalanick was undermining the search for a new CEO.
00:01:14
Other investors are unhappy with the legal in fighting. Some sent letters calling for Benchmark to divest its shares and step down from the board.