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$15 Million for a Private Chef Marketplace?

Published: 3/31/2014 10:07:47 AM

I know, food is hot these days.  Marketplaces are even hotter for venture capital investors.

So put the two together and what you have now is Kitchensurfing getting $15 million at a rumored $40 million valuation for its marketplace for private chefs.

They have some top tier investors, such as Union Square Ventures, so that says at least something about their model.

But I really wonder if they will be able to continue their growth past the "chasm"?

The "chasm" refers to market adoption between the early adopters (who appear to be adopting the service, or at least trying it out) and the wider consumer market.

I don't see it happening.
 
In a world that is struggling economically, even the richest industrialized nation, the United States has 47 million people on food stamps and 57% of the population (in a recent poll) believes we're still in a recession.

We will soon find out just how small of a niche these marketplaces will be able to service and still justify their investment and valuations.

Count me skeptical about a private chef marketplace.

 

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Don Jones
CEO, VentureDeal

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