Cloudkitchen, the young man, studied by former CEO of Uber Technologies Inc. Kalanik, placed his operations in the Middle East for public subscription, according to people who are familiar with the matter. The insiders, who asked not to reveal their identity because of the privacy of the information, said the company specialized in the operation of ‘Cloud Kitchens’ and supported by the Saudi public investment fund, the ‘Goldman Sachs’ bank used to work on the agreement. The company is looking for the ability to include its shares on one of the stock exchanges in the Emirates or the Kingdom, or perhaps the implementation of a double insert in both markets, according to the informed. Final decisions have not yet been made about the timing or size of the offer, and additional banks are expected to join the operation. Amid investments for ‘Saudi sovereignty’, ‘Claude Kitchens’ raised $ 400 million from the Saudi public investment fund in 2019. The fund is known for its ambitious investment policy as it pumped $ 3.5 billion in Uber in 2016, before overthrowing a bachelor in 2017 against the background of a scandals. It was not possible to get a comment from the representatives of “Claude Kitchens”, while Goldman Sachs refused to comment on the subject. Saudi Arabia and the UAE see the largest financial markets in the region, a breakthrough in public subscriptions over the past year. It seems that this momentum will continue despite the fluctuations of global markets as a result of US commercial policies, with the expectation that several companies will be launched in the coming weeks. Saudi Arabia’s emerging subscriptions under the upcoming proposals, airline “Flynas”, supported by billionaire Alwaleed Bin Talal, and the “Ijada Systems” business, a financial technology company owned by one of the largest Saudi banks. The ‘Cloud Kitchens’, or also called ‘Dark Kitchens’, is known as commercial areas for cooking services for delivery services only, and it has become a low cost option to enter the market for new restaurants selling their meals through delivery applications. During the corona pandemic, the most important restaurant chains also used this model to improve their income, although many of these initiatives were stopped later. ‘Klaud Kitchens’ rental kitchens for restaurants, offers various services that include logistical support, maintenance and delivery services. The operations in the Middle East include facilities that work under the “Kitchen Park” mark in the UAE, Saudi Arabia and Kuwait. Dubai -based Kitopi, the company “Kitopi”, became the company “Unicorn” in 2021 after a financing round of its leaders “Soft Bank”, before expanding its activity of cloud kitchens to the operation of real restaurants.
Saudi -returned Claude Kitns is considering offering its shares in the region
