It is not just enough to found a company.

Once you have accepted other people’s money, you can no longer run it the way you like.

That is why Uber founder/CEO is stepping aside because people who put money in his transport technology company are no longer confident in his ability to continue running the business.

Mr Kalanick will, however remain on the board of the firm.

His resignation follows a review of practices at the firm and scandals including allegation of sexual harassment against him.

Last week he said he was taking an indefinite leave of absence.

Five major Uber investors demanded Mr Kalanick’s immediate resignation in a letter on Tuesday.

Mr. Kalanick heeded the demand of the investors saying that he was stepping aside in the interest of the company.

“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.”

The world’s number 1 taxi hailing service has been embroiled in sex scandal involving some management staff and female workers over the past year.