All About The Cooks - Etsy for home cook
As shown in the title, All About The Cooks (hereinafter referred to as AC) is a private kitchen platform, which allows private chefs to have more exposure opportunities, and also allows people who want to eat delicious food to find more home-cooked dishes they want to eat.
We also start from four points for evaluating new innovations:
1. Pain points:
Confucius said: "Food and sexuality are human nature", that is, eating and pornography are human nature, and they are also just basic requirement.
In-depth analysis, AC said that many people want to eat home-cooked food, but it is difficult for office workers to have time to cook, so they buy a lot of outside food and eat a lot of junk food.
2. Solution:
Etsy for home cook is actually very clear, Esty is simply the American version of Pinkoi, a platform for handmade works, so All About The Cooks is a platform for handmade cooks.
The platform takes 12.5% is actually not high, so I personally think it is attractive. In my impression, the Pinkoi profit seems to be relatively high, but I am not sure, but the food market is definitely bigger than the hand-made jewelry market. Therefore, the valuation of AC can definitely be far more higher than Pinkoi.
3. Entry Barrier：
There is a lot of writing on it, but there are only two key points, one is the pre-order system (which will never lose money), and the other is the community system. Basically, if the community is managed properly, it can have a high customer viscosity.
The chefs on the platform, the most attractive ones, must be private chefs who have already shared on the community, as shown in the AC briefing.
The importance of the community is mentioned again here, and the negative case I personally think is Flash Coffee. I talked to a startup at Daan Station two days ago, and bought a cup of Osmanthus Latte in particular:
As a result, the sweet-scented osmanthus was not fragrant enough,, the sugar turned out to be ordinary sucrose, not honey or brown sugar, so not only does the coffee have no sweet-scented osmanthus, but also no brown sugar or honey fragrance, it is not a pass at all, and it also confirms that I said that even if I had money, I would not invest in Flash Coffee, It is an absolutely correct decision, because Flash Coffee is a company that only wants to expand rapidly by technology like Luckin Coffee. Company's operation Shall always be based on product / service itself. Without good products, the growth figures are all built on a hype.
4. Team:
1. Founder and CEO - Claire Ladkin has 10 years of experience in the advertising industry, plus 6 years as the chairman of Bristol Food Connections, so it is very suitable for the AC project.
2. Corparate Investor - Rimpei Iwata is the CEO of the world's largest recipe community. In other words, Claire received direct investment from CVC in the supply chain at the earliest stage of her business. This is a perfect infrastructure of AC. You can also speculate on AC's exit strategy:
i. Acquired by Cookpad
ii. Cookpad has experience in listing, which can effectively shorten the path of AC listing
iii. Being invested in the supply chain so early, the speech is loud, I just saw that Cookpad has investment, so I will definitely invest in AC (in theory, it will be overweight, I am a food maniac)
3. Lead Investor - Oliver Pykett, founder of Smallprint, a silver jewelry light jewelry company, Smallprint is a very, very smart company that cleverly uses children's fingerprints, palm prints, etc. to make silver jewelry like the picture below. As a father with two children, whose heart will not melt?
From Smallprint offical website
Overall, as a food lover, I give AC a very high rating and decided to invest more in AC. The score is partly because Claire is too good, and I also give 4.75 stars, the highest score in history. I also thank AC for this case analysis that I got to know the above-mentioned three entrepreneurial pioneers, and I hope that when I go to UK, I can have delicious meals face to face with them, subverting the impression that the UK only has fish and chips.
Below is the fundraising link:
You are also welcome to leave a message below and tell everyone how many stars you gave AC and why!
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