in the years following his departure from the ride-hailing company, CloudKitchens is competing in a quickly growing segment of food-delivery sometimes called "ghost kitchens" or virtual restaurants.
From the sidewalk, you'd hardly know there are multiple bustling "restaurants" inside delivering meals via platforms like GrubHub, Uber Eats , DoorDash, and more. To date, the company's raised $700 million, according to Pitchbook data, garnering it a valuation of more than $5 billion.
But there are plenty of other competitors hoping to nab a slice of the market. Kitchen United, based in Pasadena, is backed by Google Ventures and even Amazon has invested in Europe's Deliveroo, which has similar aspirations. The coronavirus pandemic, which forced most restaurants to stop in-person service, also could be a clear catalyst for the delivery-only operations.
"Demand for ghost kitchen facilities will likely spike in the short term as restaurants seek to offer delivery services to offset declining in-store business," CB Insights said in a recent report. "However, this will likely do little to alleviate current issues facing restaurants, as the ghost kitchen business model is new and not widely available. In the longer term, restaurants may take a more strategic view of ghost kitchens, driving more demand for the service.
Lmao
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Net City, Tencent's 320-acre futuristic neighborhood in China - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Please don’t do this US should game up their infra they gotta stop aiding other countries and start aiding themselves. IMO
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside story of Brex layoffs after $150 million raise - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Experts say traffic may hit unprecedented levels as big cities reopen - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Affirm launches high-yield savings account - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. With the HIGH interest rates they charge, it’s the least they can do for those using these crooks as their savings bank.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Business Insider's best investing stories of the week ended June 9 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Where is KimJongUn NorthKorea supreme leader Kim Jong un IS THE DICTATOR DEAD
Source: BusinessInsider - 🏆 729. / 51 Read more »
Uber, Lyft drivers declared employees by California regulators - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Heck who needs these companies anyway 😎 Finally. Long time coming. They have been exploiting their workforce for years.
Source: BusinessInsider - 🏆 729. / 51 Read more »