Microsoft invests in Uber founder's controversial project
Travis Kalanick can say thank you to Microsoft. His new startup received $850 million last November.
Dark kitchens don't have good ties to politicians. Including in France. These kitchens are springing up everywhere and have enough to kill local businesses while making misery for local residents (because of the noise of delivery mopeds).
For restaurateurs, it's double or nothing. And in particular in the United States, with the company CloudKitchens.
This company, launched by the founder of Uber Travis Kalanick, has drawn the wrath of war because of his massive turnover and his new reputation for putting spokes in the wheels of kitchen tenants before recovering their concepts when they are popular.
A former employee of the company, interviewed by the Financial Times, criticized CloudKitchens, saying it was “the most toxic place I've ever experienced”.
Bad behavior “tolerated and rewarded”
However, CloudKitchens manages to win the trust of investors and attract funds. In November 2021, it received a whopping $850 million to expand. Today we learn that Microsoft was among the investors.
An article from the Financial Timesreported this week, as the financing deal brought CloudKitchens to a $15 billion valuation. Microsoft is one of those companies that followed Uber by investing $100 million in 2015.
The Saudi sovereign wealth fund, which injected $3.5 billion into Uber in 2016, also joined CloudKitchens in 2019 to the tune of 400 million dollars.
These various operations are a reminder of the extent to which American tech remains a small world and that despite the pans, some entrepreneurs can easily redeem themselves on new projects.
Recent news from WeWork founder Adam Neumann also echoes this observation. The Andreessen Horowitz (A16z) fund injected a whopping $350 million into the entrepreneur's new project in August, even though no business model had yet been presented.
The “bad behavior of straight white men is “not only tolerated, but rewarded in technology, said business angel Julia Austin on August 15.