Summary: Leonardo DiCaprio invests in a waste collection app valued at $500 million.
Who knew that Leonardo DiCaprio loved trash so much?
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The Hollywood megastar has invested in Rubicon Global on a trash pickup app valued at $500 million. The app promises to lower trash bills and be a more efficient way to recycle and take away garbage. According to Forbes, “Rubicon Global uses software to manage a network of independent waste haulers that bid on picking up trash from business customers.”
Forbes added that Rubicon has 60,000 locations in its network, and that it’s the latest company seeking to innovate in an industry like waste collection that traditionally is dominated by mega companies like Waste Management.
The investment isn’t a surprise considering Leo DiCaprio is known for his passion for the environment. According to his foundation website, he has raised $65 million for conservation efforts, and in 2014, he spoke at the United Nations’ climate summit. Earlier this year, his foundation donated $15 million to conservation groups around the globe.
According to Forbes, Rubicon Global did not disclose how much Leo invested, but Nima Capital led the funding round, which included investors such as Paul Tudor Jones II, Wellington Management Company, Goldman Sachs, and Henry Kravis.
“We are honored to have the support of this remarkable group of investors and thought leaders,” says Nate Morris, Co-founder and CEO of Rubicon. “We are excited for the opportunity to transform an industry.”
In addition to getting $50 million in this round of funding, the Atlanta-based Rubicon Global, which has been called the “Uber of trash,” has named a board of advisors, which includes Uber’s Strategic Chief Advisor David Plouffe.
This isn’t Rubicon’s first Uber hire. According to their press release, they’ve brought on Uber co-founder Oscar Salazar and former Uber CFO Brent Callinicos.
Forbes also states, “Rubicon Global closed on a round of $30 million earlier this year, which included funds from Salesforce founder Marc Benioff.” The company will spend its raised $80 million to expand its business and get into the consumer market with the app.
Rubicon Global’s CEO Nate Morris was featured on Fortune’s “40 under 40” in 2014 when he was 33. His Fortune bio stated that he plans to take his company public in a few years and that he is helping Republican presidential candidate Rand Paul with his campaign.
“The Kentuckian [Morris] has emerged as a major Republican power broker well beyond his hometown of Lexington. He’s established himself as a key connector in Silicon Valley and on Wall Street for Sen. Rand Paul, as the likely presidential contender builds a donor base—and he will figure prominently in any Paul bid as an ambassador to business leaders,” Fortune says.
