{"id":47,"date":"2018-06-06T12:03:00","date_gmt":"2018-06-06T12:03:00","guid":{"rendered":"https:\/\/honkytonklondon.com\/?p=47"},"modified":"2019-07-08T09:40:07","modified_gmt":"2019-07-08T09:40:07","slug":"food-tech-start-up-downfall-and-comback","status":"publish","type":"post","link":"https:\/\/honkytonklondon.com\/food-tech-start-up-downfall-and-comback\/","title":{"rendered":"Food-Tech Start-Up: The Downfall and Comeback"},"content":{"rendered":"

Food tech is a very relatively defined term. Every food business over the internet, from aggregators to ordering and delivery platforms are clubbed under this one term. Food and the opportunity that came with it drove many entrepreneurs to this space. 2010-14 was a golden era for them with funds flowing like water. Not just for food tech startup but any startup for that matter. The prize and the profit were irresistible and that made startups flourish. But everything went down with a thud. That was the rise and the fall of the food tech empire.<\/span><\/p>\n

\"Food<\/p>\n

Food Tech Start-Up: The Beginning<\/h2>\n

Burrp was the first such venture launched back in 2006. Later in 2008, Zomato came into existence and then the game began its expansion. Discoveries were made, review based listings were brought to life. More users started using the internet to search for restaurants. Revenue came just from the ads and premium listings. The companies started to look for more sources of income in 2010. This made them venture into the online ordering of food. This attracted more companies to join the bandwagon with investors lavishly funding these startups.<\/span><\/p>\n

The Downfall<\/h2>\n

2015 was the year of the downfall of many food tech companies with many big names flattened and crushed. Over 2015-16, more than 24 mergers and acquisitions took place in the sector alone and all because they weren’t able to deliver.<\/span><\/p>\n