Profile of meal kit startup Gousto, expecting a profit after pandemic growth - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Ireland News News

Inside $1 billion meal kit startup Gousto, the pandemic unicorn expecting its first profit and doubling monthly orders

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

BIUK How inept do you have to be to buy from Gousto. 🤡

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines