Exit Options for John Hancock Bond and Corporate Finance Group: Hanover Communications In... - 28 Strategic Investors
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1) Founders: It has been co-founded by Gurmeet Singh, a serial entrepreneur with prior experience of VC fundraising & VC exits. 2) Revenue Model: FoodFox earns a commission of 7-10% from the canteen service providers on each order placed on the app. 3) Customer Acquisition: FoodFox’s has very low cost of customer acquisition & expansion approach is purely B2B so they basically need to tie-up with canteen service providers of multiple educational institutions, hospitals, malls, corporates, and possibly even restaurants (looking for a zero-contact ordering solution and lacking the tech infrastructure). Once the tie-up takes place, FoodFox deploy onboarding team with the relevant physical on-site advertising material. The material + the persuasion of the onboarding team will lead to the students/ consumers freely installing the app and using it to place orders every day. 4) Growth Funds Requirement: INR 3Cr/ $ 0.5millions