SnackMagic
SnackMagic[edit]
SnackMagic, a brand by Kitchen Stadium Inc. is an online snack, swag and gifting platform in the global CPG space. Founded in March 2020, the company enables B2B, B2C or B2B2C gifting via their Build-Your-Own or Pre-curated snack boxes. The inception of SnackMagic was a direct result of the Covid-19 Pandemic where the parent company, Kitchen Stadium Inc., pivoted its business model into corporate snacking.[1].
History[edit]
History and basic operations[edit][edit]
SnackMagic began in April 2020 where the parent company Kitchen Stadium Inc. saw an immediate loss of business as a direct result the lockdown. What began as a way to temporarily save the office lunch delivery business, Shaunak Amin, founder and CEO of Kitchen Stadium, modified the model to fulfilling snack-boxes-as-a-gift for corporates whose workforce began working from home. After an initial positive response, the business pivoted in to the gift giving business and the brand SnackMagic was officially launched in May 2020[2].
Series A[edit][edit]
After a successful launch and reaching a key milestone of $20 million revenue run rate in eight months, SnackMagic turned profitable in December 2020. On the strength of its financial performance, SnackMagic $15 million in a Series A round of funding by Craft Ventures and Luxor Capital[3]
Snack and beverage brands[edit][edit]
As Kitchen Stadium retooled their tech for SnackMagic, an unexpected result was a keen interest it received from snack and beverage brands looking to list their products. By their third month of trading, SnackMagic had around 3,000 unique brands listed on their website. Most of these brands were small scale and niche and SnackMagic was an ideal platform to showcase their products.
References[edit]
- ↑ Alcántara, Ann-Marie (2020-06-08). "No More Pizza Fridays: Companies Find New Perks for the Remote Worker". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-05-17.
- ↑ "Stadium Launches SnackMagic to Provide Office Snacks at Home". Built In NYC. Retrieved 2021-05-17.
- ↑ "SnackMagic picks up $15M to expand from build-your-own snack boxes into a wider gifting marketplace". TechCrunch. Retrieved 2021-05-17.
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