Travis Kalanick’s secretive new food start-up has taken $400 million of funding from Saudi Arabia’s Public Investment Fund, the Wall Street Journal reported, citing people familiar with the matter it didn’t identify.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…519 Views | the publication reaches you by | Saudi Arabia Today
A spokesman from PIF declined to comment.
The idea is to let eateries add new business without needing to lease a traditional restaurant space. The UK’s Deliveroo helped pioneer the idea, but CloudKitchens – a subsidiary of Kalanick’s Los Angeles-based City Storage Systems – acquired London-based dark kitchen startup FoodStars last year according to a Financial Times report in March.
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