DJ Khaled’s motto has always been “another one,” and now he's bringing the concept to life with his new company, Another Wing. Another Wing is a delivery-only restaurant for chicken wings. Khaled partnered with REEF Technology, the world’s largest virtual restaurant operator, to launch the brand. Launching in three continents, five countries, and 18 states, it’s the biggest restaurant launch in world history. After securing large investments, there has been speculation that REEF might go public.
REEF provides its services in plenty of industries including healthcare, logistics, food and beverage, retail, hospitality, community development, energy, and of course parking. However, the company has been focusing more on the kitchen industry and partnering with a variety of food chains around the world. Its virtual restaurant network can be found in over 30 cities across the globe.
What does REEF technology do?
REEF specializes in transforming parking lots into what it describes as "mobility and logistical hubs." The company uses these parking facilities as venues, pop-up shops, and more. REEF owns over 5,000 parking spaces, which makes it the largest operator mobility, logistic hubs, and delivery restaurants in the world.
In North America, REEF operates more parking real estate and delivery restaurants than any other company. It’s a very unique concept because it transforms these spaces that might have been abandoned into a one-stop-shop for a variety of goods and services.
Is REEF a public company?
Based in Miami, REEF isn't a public company and hasn't announced any plans to go public in the near future. Since June 2015, REEF has had three funding rounds where it secured approximately $1.5 billion in investments. In the most recent funding round in November 2020, REEF raised $700 million with investments from companies including SoftBank, Target Global, and Oaktree Capital Management.
REEF has partnered with many global companies.
Even though it offers pickup services for its locations, the parking real estate company has partnered with multiple delivery services to make sure that delivery isn’t difficult to find. REEF has partnered with DoorDash, GrubHub, Uber Eats, and others to make food delivery accessible for consumers. The company hopes with its business model that traffic in cities is less congested and people will get their food deliveries faster as its network continues to grow.
In October, REEF and Wendy’s made history by opening the first-ever Wendy’s delivery kitchen in the U.K. The companies announced their partnership in August. They plan to open and operate about 700 delivery kitchens in the U.S., U.K., and Canada. They hope to have the facilities up and running within the next five years. Wendy’s will offer classic and new menu items for customers.
Who is DJ Khaled?
DJ Khaled is a business mogul who has also been successful in the music industry. He has won multiple Grammy Awards and has produced multiple platinum records. DJ Khaled has worked with artists including Justin Bieber, Beyonce, Rihanna, Jay Z, and other legends.
DJ Khaled is heavily involved in developing communities and spreading positivity around the world. With his We The Best Foundation, he helps communities with educational tools and other resources. DJ Khaled's production company We The Best Music Group, manages, produces, and publishes artists’ work. Over the years, he has partnered with companies including Snap, Apple, and ESPN.