Uber's founder and CEO, Travis Kalanick, has stepped down from the company. The precise reason for this is not known, but the New York Times says a group of investors asked for Kalanick's resignation earlier this week.

Likely prompting the decision is the company's recent spate of sexual harassment allegations, with Kalanick also implicated. This resulted in an estimated 20 employees being fired by the company, amid a probe into its working culture and treatment of women within the organisation. Compounding matters is the ongoing lawsuit with Google's Waymo, with Uber accused of intellectual property theft regarding self-driving car technology.

Following his resignation announcement, Kalanick offered the following statement to the New York Times. “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.”

How Uber will move on from this, remains to be seen.