Uber Senior Executive Rachel Holt Departs, Reveals Plans to Co-Found Venture Capital Firm

Rachel Holt was at Uber for a span of around 8.5 years. Holt said she was working on co-founding a new venture capital firm in Washington D.C.

Share on Facebook Tweet Snapchat Share Reddit Comment
Uber Senior Executive Rachel Holt Departs, Reveals Plans to Co-Found Venture Capital Firm

Photo Credit: LinkedIn / Rachel Holt

Holt broke the news about her departure from Uber via a series of tweets

Highlights
  • Holt will co-found a venture capital firm after her Uber exit
  • She has partnered with Dayna Grayson for her business initiative
  • Holt says her firm will fund the next wave of tech entrepreneurs

Uber's senior executive Rachel Holt, who oversees the ride-hailing company's bike and scooter operations as well as partnerships with public transit organizations, will step down to start her own venture."After 8.5 unforgettable years at @Uber and more than a half-dozen funding rounds, I've decided to put the shoe on the other foot...," Holt, Uber's head of New Mobility, tweeted on Tuesday.

Holt also tweeted she was working on co-founding a new venture capital firm in Washington D.C. Her departure comes at a time when technology companies are revisiting their investments in shared transportation. 

 

 

German car-makers BMW AG and Daimler AG in December said they will exit the North American car-sharing market, citing the "volatile state of the global mobility landscape."Electric scooter company Lime, a San Francisco-based competitor of Uber's JUMP programme, last week said it was laying off 14 percent of its workforce and ceasing operations in 12 markets as it seeks to become profitable

Fuelled by venture capital funding, while electric scooter companies have flooded US streets with app-based scooter rentals over the past years, none has yet turned a profit. Uber in November reported $38 million (roughly Rs. 269 crore) in third-quarter revenue from a non-core ride-hailing segment it calls "Other Bets," the largest portion of which includes its dockless e-bikes and e-scooters. 

© Thomson Reuters 2020

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: Rachel Holt, Uber
Vodafone New Prepaid Plans Rs. 99, Rs. 555 Offer Unlimited Voice Calling, High-Speed Data Allocation
Honor 9X vs Redmi Note 8 Pro vs Realme 5 Pro: Price in India, Specifications Compared
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2020. All rights reserved.
Listen to the latest songs, only on JioSaavn.com