Friday, August 24, 2018

Zoox raises $500m and fires founder




Mike Cannon-Brookes has joined the board of pre revenue startup Zoox after investing $100m as part of a $500 million cap round. 

Zoox was founded 6 years ago to accelerate development of its futuristic electric robotaxis.

 Carl Bass ex CEO of Autodesk has joined the team of executive chairman after the board unexpectedly fired co-founder Tim Kentley-Klay as president . Fellow Co-founder Jesse Levinson will stay as CTO.

Tim tweets
“The shocking reality is that this morning—without a warning, cause or right of reply—the board fired me,” he wrote. “Today was Silicon Valley up to its worst tricks.” 





Is it the right strategy for founders to be fired after a VC round? 

More about Zoox
https://www.wired.com/story/zoox-self-driving-car-video-san-francisco

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