Inside Travis Kalanick's resignation as Uber's CEO

At a Chicago hotel, 2 venture capitalists presented him a list of demands, including his resignation

Travis Kalanick’s final hours as Uber’s chief executive played out in a private room in a downtown Chicago hotel on Tuesday.

There, Mr. Kalanick, who was on a trip to interview executive candidates for Uber, was paid a surprise visit. Two venture capitalists — Matt Cohler and Peter Fenton of the Silicon Valley firm Benchmark, which is one of Uber’s biggest shareholders — presented Mr. Kalanick with a list of demands, including his resignation before the end of the day. The letter was from five of Uber’s major investors, including Benchmark and the mutual fund giant Fidelity Investments.

Mr. Kalanick balked, according