Skip to main content

Chefclub raises $17 million to expand its food media brand beyond social networks

French startup Chefclub announced earlier this week that it has raised a $17 million funding round led by First Bridge Ventures. SEB Alliance, the venture arm of kitchen appliance maker Groupe SEB, Korelya Capital and Algaé Ventures are also participating.

Chefclub has been building a major media brand on social media platforms. It has attracted a huge audience that doesn’t look bad next to well-funded media brands Tastemade and Tasty.

I already covered the company at length, so I encourage you to read my previous profile of the company:

Chefclub is an interesting lesson in sales funnel. It has a huge top of the funnel with 100 million followers YouTube, Snapchat, Instagram and TikTok. Overall, they generate over 1 billion views per month.

The company leverages that audience to create new products. It starts with cooking books, obviously. Chefclub has sold 700,000 books so far. As those books are self-published, the company gets to keep a good chunk of the revenue.

More recently, the startup has launched cooking kits for kids with colorful measuring cups, cooking accessories and easy-to-understand recipes. 150,000 people have bought a product for children.

Chefclub now wants to display its brands in stores thanks to partnerships. That’s why having Groupe SEB as an investor makes sense. You can imagine co-branded items boosted by promotion on Chefclub’s accounts.

Finally, the startup plans to enter a new market — consumer-packaged goods. That’s the same thinking behind it, except that we’re talking about food. It’s interesting to see that Chefclub doesn’t think online ads represent the future of the company. And it seems like a smart decision during the current economic crisis.



from TechCrunch https://ift.tt/2YoajT0
via IFTTT

Comments

Popular posts from this blog

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/h6Kjrde via IFTTT

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...

What’s Stripe’s deal?

Welcome to  The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann Stripe eyes exit, reportedly tried raising at a lower valuation The big news in fintech this week revolved around payments giant Stripe . On January 26, my Equity Podcast co-host and overall amazingly talented reporter Natasha Mascarenhas and I teamed up to write about how Stripe had set a 12-month deadline for itself to go public, either through a direct listing or by pursuin...