SAO PAULO, BRAZIL - 09/20/2016 (PRESS RELEASE JET)
Today, SpoonRocket, the on-demand food delivery service, starts its operation in Brazil. After its previous investors invested more than 13 million dollars on the product and shut down its operation in the United States, the Silicon Valley company was adapted to the Brazilian market and its business model was reformulated to be more scalable. The mission of SpoonRocket is to help customers order good food from their favorite restaurants and have it come to them in just 35 minutes.
SpoonRocket technology was acquired earlier this year by iFood Group, the leading food takeaway platform in Latin America. After just a few months, SpoonRocket´s service was restructured to provide a complete food delivery solution to quality restaurants that did not offer such a service before. Now, consumers can order good food from their favorite restaurants and SpoonRocket makes sure they will get it faster, with the same care, as it was prepared.
"When iFood acquired SpoonRocket’s technology back in March of 2016, we aimed to launch a service to provide both customer and restaurant an amazing delivery experience. As we manage the food ordering process, we are able to offer a wide variety of cuisines around the needs of customers in which they can find the best options for food, place an order and follow the rider bringing it to them in real time”, explains Roberto Gandolfo, CEO of SpoonRocket.
What has changed from the previous business model?
Before, the value proposition of SpoonRocket was a pre-made, cheap and fast food delivery service. Basically, the value proposition was a 10 dollar food price in 10 minutes, which is a challenge to both generate a positive contribution margin per order and it is also hard to scale. In Brazil, SpoonRocket does not prepare its own food anymore. Rather, the company is focused on its main competencies – curating menus, technology and logistics - to provide a complete delivery service, so that restaurants can lay emphasis on their core business: preparing great food.
“Focusing on what each one does better, we alongside our partners are able to provide a unique experience to our customers. There are fantastic restaurants in Brazil, some of them listed on the Michelin Guide, that have not operated delivery because it´s a big challenge and requires them to go beyond their core competence. SpoonRocket makes it an easier process and offers a new market to these restaurants”, says Gandolfo.
The explosive (and billion dollar) on demand food market
At the moment, SpoonRocket is the only company offering this service in Brazil. Similar businesses models have shown a highly scalable and valuable option to restaurants and to consumers who wish good food fast and in a convenient way. Around the world companies such as UberEats, Foodora and Deliveroo have experienced high growth rates.
For SpoonRocket, the adventure starts again, and it believes that it will succeed in the Brazilian market. Right now, SpoonRocket is available for mobile platforms on iOS and Android. In Brazil, it already has more than 300 active restaurants and is operating in São Paulo, the biggest city in the country. Soon, SpoonRocket will be available in Rio de Janeiro and other Brazilian cities.
iFood, Brazil’s leading online food delivery platform, allows clients to place orders both online and via apps for mobile devices, such as iOS, Android and Windows Phone operating systems. Among the company’s investors are groups such as Movile – one of the top companies of the mobile app market worldwide – and Just EAT – a large global online ordering group, with estimated market value of USD $4 billion. iFood currently operates in more than 100 of Brazil’s main economically active cities. The company intends to expand its services into other Brazilian cities and states, to include over 25,000 establishments and food chains by late 2016. For more information, go to http://www.ifood.com.br.
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