After demands from investors, Travis Kalanick officially resigns from his CEO position at Uber.  Kalanick helped found the mobile hailing taxi-like service back in 2009, which he helped shape into a transportation giant that we know today.

There are five major investors over at Uber.  Venture capital firm Benchmark. one of Uber’s biggest shareholders has one of its partners, Bill Gurley, on Uber’s board. The investors made demanded Kalanick to step down in a letter delivered to the executive while he was in Chicago.

I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight.

-Mr. Kalanick