Catering product startup Greed Eat has received 5 billion won in follow-up investment after its last investment in February. Greed Eat centers on Asia, gaining 8.6 million subscriptions with 200 million monthly video views.
This time KNET Investment Partners and Capstone Partners are the new investors. Previous investors Big Bason Capital and SJ Investment Partners are also making a follow-up investment.
Greed Eat operates multiple channels like ‘What to Eat Today’ and ‘Cook at’. Through networks and smartphones, these channels provide videos to introduce catering, good restaurants, and cooking instruction.
4.4 million subscriptions on ’What to Eat Today’ makes it the biggest catering community in Korea. ‘Cook at’ and ‘Cook at Korea’ has 8.6 million subscribers. You can also find them on Facebook, Instagram, YouTube, Kakao Story, and other social media services.
‘Cook at’ was launched in February and is very popular, gaining more than 3 million fans in 7 months. ‘Cook at’ centers on the Philippines, Thailand, Vietnam, Indonesia, and other South East Asian countries. There are more than 2.4 million fans across the globe.
With this investment, Greed Eat will enter the oversea market and test its business model in Korea. Based on the successful experience of ‘What to Eat Today’ and ‘Cook at’, by next year Greed Eat’s goal is to reach 40 million subscriptions, expand its business abroad, and build a business model by using PB products and offline cooking classes to make profit.