The concept reduces overhead for small businesses, thereby lowering the barrier of entry for the companies that can’t afford to rent traditional retail or restaurant space.ĬloudKitchens supplies the equipment, delivery services, and marketing services to companies. Both companies rent non-traditional space to restaurants and retailers that do all of their business online. Kalanick has expressed a “particular interest” in two of the CSS business-to-business operations: CloudKitchens and CloudRetail. His departure included a $1.4 billion payout after Kalanick sold a third of his 10 percent stake in Uber to Japan’s Softbank, whose investment valued the company at $48 billion.Īfter helping disrupt then forever change the taxi industry and the gig economy, can Kalanick do the same for distressed real estate? And will the revolution begin on West Washington Boulevard? Among those with a stake was venture capitalist Chamath Palihapitiya of Palo Alto-based tech startup Social Capital, according to Recode.ĬSS is the first major investment for Kalanick nine months after he resigned from the ride-hailing giant in last June, amid reports the company fostered a hostile work environment and skirted or flat-out ignore existing laws. His investment in the 15-person North Hollywood startup allows Kalanick to buy out the remaining outside investors, Recode reported. Kalanick announced the decision to lead CSS in March, and was greeted with a wave of publicity and some head-scratching. Kalanick will pump $150 million into the L.A.-based company through his new investment fund, called 10100, a reference to his childhood home address. Kalanick, who took Uber from a small startup to a multibillion-dollar behemoth in a decade, claimed there is “$10 trillion in these real estate assets that will need to be repurposed for the digital era in the coming years,” based on in-house analysis on global parking and retail assets. CSS provides a home for restaurants and retail businesses along the lines of how Amazon uses its warehouses to supply its vast e-commerce business.Įssentially, CSS wants to redevelop industrial real estate to cater to a future based around the Internet. CSS wants to fuse distressed assets “particularly in the areas of parking, retail and industrial,” with digital-age businesses, it says.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |