Hello fellow foodies!
The past few months since our last update flew by incredibly fast with summer lasting a total of two seconds (ok, maybe five). Somehow we have found ourselves in mid-October, watching the autumn leaves fall from our office window thinking about all the amazing developments and business opportunities that we worked on during this time. As some of them have an important impact on our operations and services, we thought we could explain what has happened and what does the future hold for Crowdfooding.
Six months ago we announced the launch of our “Sales Booster” with the aim of giving early stage startups, which might not have their own e-commerce website a platform to drive their first sales, and provide additional channels to more established startups by allowing them to tap into our ever-growing community of foodies. Whilst this is still the case, in the past few months we increasingly understood the importance of alternative sales channels; a vast majority of startups are almost entirely focused on getting their products into retailers and often miss the opportunity of tapping into other markets with demand for their products and therefore forego an opportunity for growth.
At the same time we understood that whilst equity and reward crowdfunding can be powerful tools to raise finance for many food and drink startups , the value Crowdfooding can bring for these budding entrepreneurs lies somewhere else. As a result we decided to adapt our business offering and no longer offer startups the possibility of running equity-based crowdfunding campaigns via our platform. Most of the companies we work with need support with many other bits and bolts and raising finance from the crowd is only partially helping them to solve their biggest challenges
As a result, we have shifted the focus to promoting the importance of alternative sales channels in driving growth for our food and drink startups. In order to do that we have secured a partnership with the Compass Group and Google, whereby we introduce startups to Google so they have the opportunity to be stocked in their canteen. Although Google is not a retailer it feeds 4000 people on a daily basis across 4 offices in London only, which therefore represents an important potential sales channel for the startups.
Furthermore we have also secured a partnership with Airbnb Experiences to help the startups we collaborate with to create their own bespoke experiences for the Airbnb community. Crowdfooding will play a key role in in sourcing, developing, and curating the the unique experiences to be featured on Airbnb, through which we will be able to bring travellers closer to some of the most innovative food and drink experiences available in London.
In the previous article we also mentioned our plans to open an Innovation Hub in London. Whilst this is still very much the case, we’ve been slightly delayed due to the amount of work we dealt with over the summer. This being said, we are now in the final stages of securing a permanent location and we hope to update you with more details soon.
We also launched a new website in the final week of October 2017. In addition to a general improvement of the website design, we hope the new layout makes it clearer what kind of services we offer to both startups and corporates.
On a final note, we have plenty of exciting projects lined up and we can’t wait to share the good news with you. In the meantime catch us on Twitter or Facebook or at some of the events we will be attending, like SMAU in Milan, FoodTechAgTech Summit in Berlin, or Food Matters Live in London. Or even better, we are also planning on opening a San Francisco office so hopefully next year you’ll be able to visit us over there!