Chefclub raises $17 million to expand its food media brand beyond social networks – TechCrunch

by Joseph K. Clark

French startup Chefclub announced earlier this week that it has raised a $17 million funding round led by First Bridge Ventures. SEB Alliance is the venture arm of kitchen appliance maker Groupe SEB, Korelya Capital, and Algaé Ventures.

Chefclub has been building a major media brand on social media platforms. It has attracted a vast audience that doesn’t look bad next to well-funded media brands Tastemade and Tasty. I have already covered the company at length, so I encourage you to read my previous profile of the company:

brand beyond social

Chefclub is an exciting lesson in the sales funnel. It has a massive top-of-the-funnel with 100 million followers on YouTube, Snapchat, Instagram, and TikTok. Overall, they generate over 1 billion views per month.

The company leverages that audience to create new products. It starts with cooking books, obviously. Chefclub has sold 700,000 books so far. As those books are self-published, the company gets to keep a good chunk of the revenue.

The startup has recently launched cooking kits for kids with colorful measuring cups, cooking accessories, and easy-to-understand recipes. 150,000 people have bought a product for children.

Chefclub now wants to display its brands in stores thanks to partnerships. That’s why having Groupe SEB as an investor makes sense. You can imagine co-branded items boosted by promotion on Chefclub’s accounts.

Finally, the startup plans to enter a new market — consumer-packaged goods. That’s the same thinking behind it, except that we’re talking about food. It’s interesting to see that Chefclub doesn’t think online ads represent the future of the company. And it seems like an intelligent decision during the current economic crisis.

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