The food blogging neighborhood in China is booming, and lots of creators have been moneying in big time by promoting food products to faithful followers, a service model that has actually enticed investors. Today, Hong Kong-based start-up DayDayCook announced that it has raised $20 million to broaden its multifunctional food platform, whose users primarily come from mainland China. The business, founded by banker-turned food blog writer and entrepreneur Norma Chu, uses a little whatever: an app featuring recipes and food videos, cooking classes in upscale shopping malls and a product line of its own top quality foodstuff offered online, that makes up 80% of its earnings.
London-based Talis Capital led the funding round, with participation from Hong Kong’s Ironfire Ventures. The eight-year-old startup has raised a total of $65 million to date from financiers, consisting of Alibaba Entrepreneurs Fund, the e-commerce giant’s not-for-profit effort to support young entrepreneurs in Hong Kong and Taiwan.
The selling point of DayDayCook items is their thoroughly crafted brand name stories. Users initially take in the material put out by the start-up across social channels, and after that they become consumers of DayDayCook’s prepared to consume or prepare food packs, kitchenware and more.
“We really think in the content-to-commerce model,” said Matus Maar, managing partner at < a class="crunchbase-link"href="https://crunchbase.com/organization/talis-capital"target="_ blank"data-type="organization"data-entity=
“talis-capital” > Talis Capital. He went on to discuss that as content creation ends up being simpler thanks to an abundance of mobile modifying tools, “even one person in rural China can make fantastic material that creates a huge following.” He was referring to China’s reclusive influencer Li Ziqi who rose to stardom by publishing videos on YouTube and domestic sites about her rural self-sufficiency.
“That goes together with individuals not wanting to see material that is extremely sleek or comes out of mega agencies. Individuals on the web want to see credibility. They wish to see individuals doing genuine things,” suggested the financier.
While there is a legion of food influencers out there, not all are equipped to develop a profitable endeavor. Matus believes DayDayCook has all the pieces in location: providers, distribution, logistics and shipment. By developing its private label items, the start-up is also able to cost greater margins.
Chu said her business has actually generated 2.3 million registered users on its own app. Its paid users, ordering through e-commerce channels like JD.com and Alibaba’s Tmall, grew 12 times year-over-year to 2.2 million.
DayDayCook’s material has a broader reach, garnering 60 million followers throughout microblogging platform Weibo, TikTok’s Chinese edition Douyin, Tencent’s video website and more. That might not appear like a lot in the influencer era– Li Ziqi herself has almost 12 million subscribers simply on YouTube.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.