3. Inspiration & Market Niche
“The moment we spend eating a meal with others is,
by essence, a moment of sharing. Cookening wants
to amplify that moment by creating a new moment
of sharing around gastronomy between foreigners.
With a jeopardized economy, but also
social isolation that has increased in
the last few years, people want to go
back to simple and authentic
experiences, to conviviality. Sharing a
meal in a warm atmosphere with foreigners meets
exactly this need.” – Founder Cédric Giorgi
7. Business Model: Financial
Capital
The startup is self-funded
Share capital of 10,000 Euros
Cookening is a distributor for the Leetchi Corp. S.A.
company, a ‘société anonyme’ under the law of
Luxembourg with a share capital of 500,000 Euros
Launch Cost
Startup has been in private alpha for six months (Dec 2012)
Since May 2013 opened to the public with 1500 registered
users signed up so far
8. Business Model: Revenue
Hosts create
profile
Profile is
manually
vetted
Non-locals
choose
host/table
booking and
make
contact
Payment is
made,
handled by
Cookening
Host receives
payment the
day after a
successful
meal
Company
takes a 20%
fee
9. Business Model: Partners
Online payment platform
1.8% + € 0.18 per cash-in
transaction in €
(Visa/MasterCard/CarteBleue)
No fees for cash-out transactions
No fees for refunds
No chargeback fees
No set-up fees
No minimum amount
A grassroots organization that
supports the sharing economy
movement.
By sharing what we already have
everyone benefits.
The sharing economy is helping us
This is how the 21st century
economy should work
10. Road Map
Potential to attract new
customers
Human connection
Fun with monetary gain
Network effects
International expansion
Food culture and travelers
Spain, Italy, South America,
India, etc.
11. Challenges
Very niche market = restricted revenue potential
Competition
Acquisitions
Physical office presence in key markets
Scams and strangers with bad intentions
Guarantee program
Food Safety and Regulations