Travis Kalanick buys realty firm, takes over as CEO

SAN FRANCISCO: After getting kicked out of the chief executive officer job at Uber Technologies Inc. in June, Travis Kalanick is getting back in the saddle. He said Tuesday he’s buying a controlling stake in a distressed real estate company called City Storage Systems for $150 million and installing himself as CEO. The investment represents roughly 10 percent of his liquid wealth. Kalanick sold $1.4 billion worth of Uber shares as part of Softbank Group Corp.’s investment in the ride-hailing company in January. The real estate deal comes from Kalanick’s new fund, called 10100.