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Travis Kalanick bets on Real Estate Tech

Former Uber CEO built up Uber Eats

Former Uber CEO Travis Kalanick has acquired a controlling interest in City Storage Systems. Kalanick will be the new CEO and is investing $150 million into the startup, according to Recode.

What they do: The startup buys distressed real estate assets and repurposes them for the digital era. For example, they convert parking lots into food delivery kitchens, and industrial properties into e-commerce warehouses.

Dig Deeper: Of particular interest to Kalanick was CloudKitchens, which is the company’s project to help restaurants build kitchens dedicated to food delivery. The hope is that restaurants will use it to add food delivery to their business away from their in-house kitchens, according to Business Insider.

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