News

Former Uber boss Kalanick raises $400M for ghost kitchen, delivery platform

November 8, 2019

Travis Kalanick, the Silicon Valley icon who was ousted as CEO of Uber, raised $400 million from Saudi Arabia's sovereign wealth fund in January for his new pet project, a shared-space food delivery service called CloudKitchens, according to the Wall Street Journal. 

The investment values the delivery-only business at about $5 billion and represents one of the first major foreign investments from the scandal after the murder of Washington Post journalist Jamal Khashoggi. 

Often referred to as ghost or virtual kitchens, sharing kitchen space has become an increasingly popular way for small restaurant brands to expand their businesses. Kitchen United, for example, is building 400 kitchen centers with 5,000 virtual kitchens over the next four years in locations across the nation.