Fundamentally, margins on food are thin and customer acquisition costs are high making a startup's tech the key to success, according to Jon Coker, founding partner at EKA Ventures who led a seed funding round into Gousto whilst at MMC Ventures.
Boldt told Business Insider that Gousto saw a 70% increase in growth for the first quarter. He also said the company exceeded its entire 2019 revenue of $108 million revenue in the first half of 2020. "Gousto's growth in profitability is not a Covid story in the way it is for others," he said. "I'm not sure if this market is winner take all or not, but there's still a long way to go.
The former financier said that reports of the company's "overnight success" don't take into account the past eight years of work.
BIUK How inept do you have to be to buy from Gousto. 🤡