Advertisement

Travis Kalanick is a CEO again — this time at a real estate start-up

Travis Kalanick is a CEO again — this time at a real estate start-up
Travis Kalanick is investing $150 million from his new fund, 10100, into City Storage Systems, which redevelops distressed real estate. He will also become CEO of the start-up. (Imago / TNS)

It's not as splashy as disrupting the global transportation industry, but Travis Kalanick is once again a chief executive.

The controversial entrepreneur, who was ousted as CEO of Uber in June, tweeted Tuesday that he will head City Storage Systems, a holding company that redevelops distressed real estate, particularly parking, retail and industrial property.

Advertisement

"There are over $10 trillion in these real estate assets that will need to be repurposed for the digital era in the coming years," he said.

Kalanick is buying a controlling interest worth $150 million in the company through his newly formed investment fund, 10100.

One of City Storage Systems' existing assets is CloudKitchens, which provides kitchens and software to delivery-only food businesses.

Aside from what Kalanick shared, there's little public information about City Storage Systems. (A shelving company in Mumbai with the same name far outranks it on Google.)

In his message, Kalanick described it as a 15-person start-up.

Recode reported that the limited liability corporation is based in Los Angeles.

The tech news site the Information reported that City Storage Systems was owned by one of Kalanick's closest friends, investor and USC professor Diego Berdakin.

Kalanick and Berdakin could not be immediately reached for comment.

Follow me @dhpierson on Twitter

Advertisement
Advertisement