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Uber’s Chief Product Officer, Jeff Holden Quits!

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Post the exit of ex Uber CEO, Travis Kalanick last year, here comes another shocker!  

Jeff Holden joined Uber Technologies Inc., back in 2014. He was heading the Uber’s flying car Elevate division. However his departure is quite untimely. According to a source, Elevate will be now headed by Eric Allison.  It was just last week, Uber hosted its second annual flying car summit.

Uber Technologies Inc., Chief Product Officer, Jeff Holden is leaving the company amidst the development of the company’s flying car effort, called Elevate.

At the summit, the flying car project got a big boost from the company’s new CEO, Dara Khosrowshahi.

Alongside, the company also came up against some of the realities of the hurdles like technological and regulatory issues that Uber would face in attempting to get Elevate off the ground. Jeff Holden himself brought the regulatory issues to light in his onstage conversations with Dan Elwell, the acting head of the Federal Aviation Administration.

Before flying cars, Holden was involved in leading the self driving efforts. Several sources inside the company described him as a visionary.

The current CEO, Dara Khosrowshahi has been shaking up the company since taking over last August aiming to improve Uber’s reputation after a string of scandals and issues.

Holden told the Uber Elevate Summit held in Dallas that the company is expected to deploy flying taxi services in Dallas-Fort Worth, Texas, and Dubai in 2020.

A spokesperson from Uber said “As demonstrated by last week’s Uber Elevate Summit, we’re incredibly bullish on the future of aerial ride-sharing and under the leadership of Eric Allison, the Elevate team is set up for success, and will continue to chart the course for this growing industry.”

Jeff Holden was one of very few executives in the top levels left at the cab hailing company, Uber!

 

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Tesla Secures Mumbai Facility as Key Step in India Market Entry

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Tesla has ramped up its India expansion by leasing a 24,565 sq ft warehouse at Lodha Logistics Park in Mumbai’s Kurla West. The five-year lease, registered on May 16, 2025, involves a total rent of over ₹24 crore, starting at ₹37.53 lakh per month with a 5% annual escalation. The facility includes two ground-floor units and 20 parking spots, with rent payments commencing June 1, 2025.

This warehouse will function as a key service center and garage for Tesla’s India operations, excluding bodywork and spray painting. The move supports Tesla’s preparations for its official market debut, expected in late 2025 or early 2026.

Tesla’s India rollout includes offices in Pune, flagship showrooms in Mumbai’s Bandra Kurla Complex (BKC) and Delhi-NCR, and co-working spaces in Mumbai. The new warehouse lease highlights Tesla’s commitment to building a robust infrastructure for sales, service, and delivery of electric vehicles and energy products across India.

While manufacturing plans are not yet confirmed, Tesla is reportedly exploring sites in Maharashtra for a potential assembly unit. The Mumbai warehouse lease marks a significant step in Tesla’s strategy to establish a strong presence in one of the world’s fastest-growing EV markets.

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Razorpay Partners with MeitY Startup Hub to Accelerate Deeptech Innovation in Tier II and III Cities

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Razorpay

MeitY Startup Hub (MSH), under the Ministry of Electronics and Information Technology, has partnered with fintech leader Razorpay to support the growth of deeptech and emerging tech startups across India, with a special focus on those in Tier II and III cities. Through this collaboration, early-stage startups will gain access to Razorpay’s fintech infrastructure, mentorship, and resources via the Razorpay Rize program.

Startups in areas like AI, blockchain, robotics, and IoT will benefit from streamlined company incorporation support, expert mentorship, product credits, and guidance for applying to global accelerators such as Y Combinator. Selected founders will also join the exclusive Rize Community, connecting with peer networks and attending masterclasses.

MSH CEO Panneerselvam Madanagopal emphasized that this partnership will help founders scale faster by providing vital support in mentorship, capital access, and digital infrastructure. As India’s startup ecosystem surpasses 159,000 DPIIT-recognised startups, this initiative aims to give deeptech entrepreneurs the tools and networks needed to innovate for India and expand globally.

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PixelSky Capital Unveils INR 400 Crore Secondaries Fund

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Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.

 

The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.

 

Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio

 

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