Uber CEO Travis Kalanick resigns under pressure

Uber Technologies Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies in the world, resigned under pressure from investors after a string of setbacks.

Kalanick's departure caps a tumultuous period for the world's largest ride-services company that has revolutionized the taxi industry and challenged transportation regulations worldwide.

Kalanick has helped Uber become a transportation giant valued at 68 billion US dollars, the largest private firm backed by venture capitalists in the world.

It is not clear who will be Uber's new CEO, but according to executive recruiters, the next leader will likely be tasked with making the company profitable and paving the way to an initial public offering.