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Travis Kalanick’s CloudKitchens Valued at $5 Billion by Saudi Backers

By
Zoë Bernard
· · Source: The Wall Street Journal

Travis Kalanick’s kitchen rental company CloudKitchens has received a $400 million investment from Saudia Arabia’s sovereign wealth fund that values the startup at around $5 billion, the Wall Street Journal reports. Kalanick has a longstanding history with Saudia Arabia’s sovereign wealth fund, known as the Public Investment Fund or PIF. The fund first poured $3.5 billion into Uber in 2016....

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