CloudKitchens

CloudKitchens is a Los Angeles-based ghost-kitchen operator that acquires and converts real estate into delivery-only commercial kitchens, then leases the spaces and supplies software to restaurants and virtual brands. The company is the best-known business of City Storage Systems, in which former Uber co-founder and CEO Travis Kalanick took a controlling stake after leaving Uber in 2017; Kalanick serves as CEO. CloudKitchens grew aggressively during the delivery boom, building a large portfolio of kitchen properties across U.S. and international cities. Reports indicate CloudKitchens has raised roughly $1.3 billion, with major backing from Saudi Arabia's Public Investment Fund and Microsoft, and reached a valuation of around $15 billion in a late-2021 round. Like the broader ghost-kitchen sector, the company faced a post-pandemic pullback and rationalized parts of its footprint, including closing some U.S. locations in 2025, while Kalanick has signaled ambitions to extend into AI-driven, vertically integrated food operations.