Briefing

Travis Kalanick plans to grow his new startup beyond ghost kitchens and delivery apps

The former Uber CEO has purchased or leased properties in the U.S., South Korea, Singapore and London to rent to cooks whose food will be delivered directly to customers ordering through the CloudKitchens app. Since acquiring the small startup in 2018, Kalanick has secured hundreds of millions of dollars in loan facilities through several banks, including Goldman Sachs, and said CloudKitchens could now be valued at US$2.5 billion. Accessing restaurants’ customer data to target them with sales and ads is a key part of the company’s growth plan, sources told The Information. Kalanick also plans to act as an intermediary between farms and restaurants to help restaurants reduce their costs. (The Information)

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