The massive software company is the first known U.S.-based investor in CloudKitchens, a “ghost kitchen” startup, according to the Financial Times. The investment was part of a US$850-million funding round that closed in November 2021, valuing the company at US$15 billion. CloudKitchens also hired former Amazon executive John Curran as chief financial officer. (Financial Times)
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The massive software company is the first known U.S.-based investor in CloudKitchens, a “ghost kitchen” startup, according to the Financial Times. The investment was part of a US$850-million funding round that closed in November 2021, valuing the company at US$15 billion. CloudKitchens also hired former Amazon executive John Curran as chief financial officer. (Financial Times)
Talking point: The Los Angeles-based startup buys and leases warehouse space to house so-called ghost kitchens that provide food for delivery via services like Uber Eats and DoorDash. Kalanick, who was ousted as Uber’s CEO in 2017 following multiple scandals, quietly bought out real estate company City Storage Systems and rebranded it as CloudKitchens, with himself as CEO, in 2018. At Uber, the co-founder allegedly pushed legal boundaries and allowed a sexist work culture to go unchecked; a document leak in July revealed efforts to hide data from Dutch and French police during his tenure. Microsoft, which previously backed the ride-hailing company, is the only major Uber investor to jump on board for this new venture.
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