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Founder of popular ride-sharing service, Uber, Travis Kalanick stepped down Tuesday as chief executive. He helped found the Company in 2009. A shareholder revolt made it untenable for him to stay on at the company.

Mr. Kalanick’s exit came under pressure after hours of drama involving Uber’s investors, said confidential sources with knowledge of the situation.

Earlier on Tuesday, five of Uber’s major investors demanded that the chief executive resign immediately. The investors included one of Uber’s biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber’s board. The investors made their demand for Mr. Kalanick to step down in a letter delivered to the chief executive while he was in Chicago, said the people with knowledge of the situation.

In the letter, titled “Moving Uber Forward” and obtained by The New York Times, the investors wrote to Mr. Kalanick that he must immediately leave and that the company needed a change in leadership. Mr. Kalanick, 40, consulted with at least one Uber board member and after long discussions with some of the investors, he agreed to step down. He will remain on Uber’s board of directors.

“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 said in a statement.

Uber’s board said in a statement that Mr. Kalanick had “always put Uber first” and that his stepping down as chief executive would give the company “room to fully embrace this new chapter in Uber’s history.” An Uber spokesman declined to comment further.

His resignation follows the company’s woes that started this year over allegations of sexual harassment and discrimination at the work place. His troubles began earlier this year after a former Uber engineer detailed what she said was sexual harassment at the company, opening the floodgates for more complaints and spurring internal investigations.

Mr. Kalanick turned the company into the world’s dominant ride-hailing service and upended the transportation industry around the globe. He had said last week that he would take an indefinite leave of absence.

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  112. An outstanding share! I’ve just forwarded this onto a colleague who was conducting a little research on this. And he actually ordered me lunch because I found it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanks for spending some time to talk about this subject here on your internet site.

  113. Nice post. I learn something totally new and challenging on sites I stumbleupon on a daily basis. It will always be helpful to read articles from other authors and use a little something from their websites.

  114. Can I simply say what a comfort to discover somebody who truly knows what they are talking about on the web. You certainly know how to bring a problem to light and make it important. A lot more people need to read this and understand this side of the story. It’s surprising you’re not more popular because you most certainly have the gift.

  115. Having read this I thought it was really enlightening. I appreciate you spending some time and effort to put this short article together. I once again find myself spending way too much time both reading and posting comments. But so what, it was still worthwhile.

  116. You’re so interesting! I don’t suppose I’ve read through a single thing like that before. So good to find another person with unique thoughts on this issue. Really.. thank you for starting this up. This site is something that’s needed on the internet, someone with a little originality.

  117. Hi! I could have sworn I’ve been to your blog before but after browsing through a few of the posts I realized it’s new to me. Regardless, I’m definitely pleased I discovered it and I’ll be bookmarking it and checking back frequently.

  118. I’m impressed, I must say. Rarely do I encounter a blog that’s both educative and amusing, and without a doubt, you have hit the nail on the head. The issue is an issue that not enough folks are speaking intelligently about. I’m very happy that I found this during my hunt for something relating to this.

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