Uber founder karanik $130 million buying multiple properties: moving into shared kitchen

category:Finance
 Uber founder karanik $130 million buying multiple properties: moving into shared kitchen


Wall Street reported that kalanicks acquisition was a big bet in the takeaway industry. Cloud kitchen has been around for many years, and has successfully raised hundreds of millions of dollars, and has built a business of billions of dollars through the rental of real estate. Kalanek is not the only Uber in the industry. Virtual kitchen, co founded by former Uber executives Ken Chong and Matt Sawchuk, filed with the U.S. Securities and Exchange Commission last month, showing it has raised about $20 million. Reef technology and kitchen united, invested by Softbank group, are also in this emerging industry.

The Wall Street Journal commented that kalanicks competitors rarely acquired real estate. They usually sign a lease or revenue sharing agreement with the landlord, so that the company can expand faster. However, kalanicks strategy of purchasing real estate has market risks. Only when the real estate price rises in the near future, can it have a return. But kalanek is not short of money. Last year, cloud kitchen raised $400 million from Saudi Arabias sovereign wealth fund. In addition, real estate records show that Goldman has been financing the acquisition and development of cloud kitchen with millions of dollars in loans. Kalanek, 44, was involved in the creation of Uber. In 2017, under pressure from investors, kalanick resigned as chief executive of Uber. Last year, kalanick sold all of his shares in Uber for more than $2.7 billion. Source: surging news editor: Zhong Qiming_ NF5619

The Wall Street Journal commented that kalanicks competitors rarely acquired real estate. They usually sign a lease or revenue sharing agreement with the landlord, so that the company can expand faster. However, kalanicks strategy of purchasing real estate has market risks. Only when the real estate price rises in the near future, can it have a return.

Kalanek, 44, was involved in the creation of Uber. In 2017, under pressure from investors, kalanick resigned as chief executive of Uber. Last year, kalanick sold all of his shares in Uber for more than $2.7 billion.