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FreshMenu in funding talks to raise $75 million from new Investors

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Bengaluru-based food delivery startup FreshMenu is in early talks with private equity funds to raise around ₹555 crores ($75 million) in series C round, with an estimated valuation of ₹1,850 crores ($250 million).

Out of the total investment of $75 million, $50 million is expected to come as primary capital, while the remaining is expected to come from the secondary deal, as existing investors look to make a partial exit.

The investors that are reportedly in talks with the food tech startup to acquire a 25-30% stake are TPG, General Atlantic, Singapore-based Temasek Holdings, and Mumbai-based PE fund Kedaara Capital, according to the people aware of the development. Kotak Mahindra Capital has been running the process.

The funds raised are expected to be used for setting up more kitchens in the existing markets like Bengaluru, Gurugram, Delhi NCR, and Mumbai, along with expanding to new markets including Pune and Hyderabad.

FreshMenu was founded by IIM Ahmedabad alumni Rashmi Daga in 2014. The startup provides a technology platform to let customers order food from an extensive menu and delivers the food right at their doorsteps.

Must Read: Top Helion Venture Partners Portfolio funding Companies

The food delivery startup is operational across Bengaluru, New Delhi, Gurugram, and Mumbai. It has around 30 kitchens in Bengaluru and six in Mumbai, with plans of adding another 40 in Bengaluru, 20-25 in Delhi NCR, and 40-45 in Mumbai. FrehMenu is looking to expand the number of kitchens to 300 across the country by 2020.

While FreshMenu monthly orders are estimated to be a modest 500,000. The startup fulfills 80% of its orders through its own website and app, while, the remaining 20% comes from other food delivery platforms like Zomato, Swiggy, UberEATS, and Foodpanda.

FreshMenu last raised $16.5 million in a series B funding round led by Zodius Capital, along with participation from Lightspeed Venture Partners in January 2016.

There has been a lot of buzz around the food tech sector in India, with two Indian food delivery giants Zomato and Swiggy, with monthly orders at around 21 million and 20 million, respectively, compete for market leadership.

Must Read: Blume Ventures in India portfolio in India

Joyce Virginia is a New York–based writer, whose work has appeared in the New York Times, Wired, Poets & Writers, and other publications. She is a member of Sisters In Crime and Mystery Writers of US.

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Hartwick Fields Dog Food

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hartwick fields dog food review 1
  • Hartwick Fields Dog Food is a brand that prioritizes your pet’s health and well-being. They understand that your dog is more than just a pet – they’re a part of your family. That’s why Hartwick Fields uses only the finest ingredients in their recipes, ensuring your furry friend gets the nutrition they need to lead a healthy, happy life.

    Their range of dog food is crafted with care, using a blend of high-quality proteins, whole grains, and fresh fruits and vegetables. Each recipe is balanced and complete, providing all the essential nutrients your dog needs for optimal health.

    What sets Hartwick Fields apart is their commitment to quality. Every batch of their dog food undergoes rigorous testing to ensure it meets their high standards. Plus, their recipes are free from artificial colors, flavors, and preservatives, so you can feel good about what you’re feeding your pet.

    Whether you have a puppy, an adult dog, or a senior canine, Hartwick Fields has a product to suit. Their line includes everything from grain-free options for dogs with sensitivities to high-protein formulas for active pups. So no matter what your dog’s dietary needs, Hartwick Fields has a solution.

    Try Hartwick Fields Dog Food today and see the difference it can make in your pet’s health and happiness. Your dog will thank you!

    Hartwick Fields Dog Food is not just a brand—it’s a promise to provide your pet with the best. Their unique approach to pet nutrition involves working closely with veterinarians and pet nutritionists to create recipes that cater to the specific needs of dogs at every life stage.

    Their dog food products are not only packed with essential nutrients, but also feature irresistible flavors that will have your pet looking forward to mealtime every day. With Hartwick Fields, you’re not just feeding your pet—you’re nourishing their health and wellbeing, and showing them just how much you care. Trust Hartwick Fields to deliver uncompromising quality in every bite.

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Business

Zomato Acquires Uber Eats Reason Behind The Deal or Failure of Uber Eats

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On January 21st, 2020, food delivery giant Zomato acquired Uber Eats. From this time Uber Eats discontinued its food delivery operations. Users traveling outside India can still enjoy the benefits of Uber Eats. Now all its delivery partners, consumers, and restaurants will be directed to Zomato. Zomato acquired food aggregator Uber Eats for ₹2,485 crores, and after this deal, Uber Eats holds ownership of 9.99% in Zomato. After the deal, 245 employees of Uber Eats are on a cliffhanger. Zomato hasn’t given any statement about the absorption of these employees.

Apart from the growth in the smaller cities and towns, the significant business of food delivery app scripts like Swiggy and Zomato is around 65% comes from the top cities. Now with the Uber Eats consumers, Zomato holds about 50-55 percent of the food delivery market industry. Now developers are focusing on developing Zomato clone scripts.

The on-demand meal delivery service UberEats, connected with Zomato. The potential for many of these online delivery services is substantial, with around 44% of consumers using food delivery services at least once per month in the United States. Furthermore, the survey also found that 43% of consumers claimed to order their food online with an additional 13% ordering using a food delivery app. (source)

Uber Eats’s Journey in India

Cab hailing company Uber started its food delivery services in 2017. At that time two industry giants Zomato and Swiggy were already there. It was the first food delivery company that had a celebrity brand Ambassador – Alia Bhatt. Zomato started in 2008, and after five years, Swiggy began in 2013. By the time Uber launched its food delivery services in India, these two already had acquired more than half of the market. Zomato had around 40 million users, where Swiggy had 42 million users and the newbie Uber Eats had only 10 million user base at that time.

After starting the business in 2017, the average order value (AOV) of Uber Eats was rs 400, then in 2018 AOV was rs 300 with 3.5-4 million orders per month, and last year in 2019 it was rs 250. The AOV is showing its constantly dipping market. Besides having less user base, the users shared their grievance on twitter saying that the company Uber Eats was way better than Swiggy and Zomato. “The delivery experience, additional taxes, and application user interface of Uber Eats were much better than its competitors,” users said.

Big Wins for Zomato

Zomato got quite a lot from this deal according to experts. Zomato got all its delivery partners, Customer information, business details, customer order history and much more. The delivery partners will benefit from this deal because everyone wants their food to be delivered home at the quickest. More people will order means, more delivery boys and more employment. Zomato serves more than 70 million users every month in 24 countries, with a partnership of 1.5 million restaurants. The addition of Uber’s business will definitely take this figure higher than Swiggy.

Reasons: Why Uber Eats lagging behind Zomato and Swiggy?

There are several reasons for uber Eats lagging behind Zomato and Swiggy. Here we will discuss some of them.

  1. Facing Last Mover Disadvantages

Where UberEats started its business in 2017, its competitor was already set its feet in the market. They were almost on the top when Uber began its food delivery business as a newbie. There was a lot of pressure on Uber Eats as being a newbie in the market. Being a latecomer in the food delivery market, Uber faced many challenges which lead Uber to this deal.

  1. Slow Growth

Being a latecomer in the industry with limited resources, made Uber’s growth slow. Where Zomato was serving around 500 cities, Uber was only serving 44 cities at that time. The hyper-competitive market and low-value orders slowed its growth. The food delivery market is not so easy to crack.

  1. Less Funding and High Discounts

When Uber Eats started its business in India, it did not get enough funding from the investors. Even its parent company Uber also didn’t provide enough funding. While becoming stable in the market, Uber Eats needed to follow a high discount strategy. Where the competitors were getting substantial funding; hence they were offering impressive discounts that were making them popular in the market. The massive discounting approach was one of the reasons for its downfall. The company losses around ₹2,197 crores and more debts were following it, which made it difficult for Uber Eats to sustain in the market.

All in All

There are other food delivery companies also in the market like Foo

panda, Dunzo and many more. But the leading players of the game will be Swiggy and Zomato. In any application-based business, only one brand remains on the top. With the huge success of these applications, online food delivery app development companies are seeing their future in it. The other brand remains for back up, and there is no space for the third one. Any brand which is not on number 1 or 2 face difficulty to sustain in the market and face difficulty to make a profitable and successful business.

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Business

How to Find Best Hostess in 2020?

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The most memorable feature of an event, party or restaurant may not be the quality of the food or even the décor but the impression created by the hostess. The hostess who greets visitors makes a powerful first impression and can make break your success. But finding the right hostess is something you don’t leave up to a chance. You want to do more than just collecting applications from teenagers and hire a random one, hoping he/she will be a stellar employee.

Finding the perfect hostess in Dubai takes a lot of effort and search. Here are some useful tips you can use to find the best hostess for your event.

Find one that’s kind, friendly, and caring

The very first rule of hiring a good hostess is to look for someone who friendly, caring and kind. They should be thoughtful and considerate for you to work with, and they will also make a great first impression on your guests. Since your hostess is the first person, installing them at the front will help make your guests feel welcome instantly.

Make ‘em smile

The thing that really gets your guest when enter in is an enormous smile from your hostess. Hire a person who walks and greets your guests with a 1000klw smile.

Bring out their personality

Hiring a hostess with a great personality is very important, after all, it is the hostess who has to deliver the bad news to the guests if there is an issue.

To learn more about your hostess’s personality, pay attention to how they respond to your questions. The person who is responsive, polite, and cheerful is the one you should hire. You can also ask them for a solution by putting them in a random situation and ask them what they will do in such a situation. Based on their reply can decide whether you should hire this person or not.

Ask strange questions

A hostess has to deal with strange questions and requests all the time. The best way to know if your hostess can handle weird and strange questions is by asking them strange questions yourself. You can ask some random questions like Is the food vegan verified? Where is the lift? What is the level of wi-fi radiation on the rooftop? If the response is satisfactory, you can decide whether to hire the candidate or not.

Calm under Pressure

Any event will have their stressful moments, especially when there are hundreds or thousands of people involved. An ideal hostess won’t be rattled under that kind of pressure. You want someone in your team who can keep their cool under heavy stress and convey calm to the guests waiting outside.

You can determine whether they can handle pressure or not by asking or putting them in a difficult situation. If you are satisfied with their answer, then you can go ahead and hire the hostess.

Get them talking

A hostess’s job relies mostly on communication, after all, there is nothing else for them to do except talk to your guests. Because the job involves a lot of talking, you want to make that the person you hire speaks fluently in the language that your guests will be speaking.

Determining fluency is easy. Just keep on talking with the candidate during the interview, and you will be able to identify whether the candidate has any communication issues or not.

Make sure they can amuse themselves

The other job of the hostess is to stand around. If you hire a hostess with a bright smile, and great communication skills but wanders away from her station because she is bored that is not going to work well for your business.

Ask your candidate directly about how they amuse themselves when they are bored of standing around and doing nothing. If they are making up a fake answer, then you should look for a different candidate.

Stand out from the crowd

The best way to select the best hostess is to have your pick from a big pool of talented people. And how do you get these potential hostesses banging down your doors and wanting to work for you? The answer is simple, offering great benefits, growth opportunities, and a supportive environment. When you offer perks to a person, they come running to your doors offering their skills for your benefit.

The truth is everyone is looking for a kind, talented, smiling, smart, and friendly hostess and there are not enough people with these skills to go around. So, it is best to give yourself an unfair hiring advantage to hire great and talented people will want to work for you.

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