Companies today are growing in revenue twice as fast as companies or start-ups that started back in the 2000s or 1990s. There are various reasons for that, but for now, that is irrelevant. We shall explore another company like this, Gousto, that is booming in the United Kingdom.
What is a tech unicorn?
Any startup company that gains assets or revenue of above $1 billion, is declared as a tech unicorn. This term in business was first coined by the famous venture capitalist Aileen Lee.
The word unicorn is used because of the basic fact that it is a mythical animal, and a startup company valued over $1 billion seems like something out of a fairy tale or a mythical story. Gousto has become one such company after just 8 years of its launch.
What is the major business of Gousto?
SCA Investments Limited has adopted the trading name Gousto. As of yet, they offer their services only within the United Kingdom. This is a meal kit company that has been regarded as the best company in this domain by many international level magazines (mostly based in the United Kingdom) like the Guardian and the Independent.
Some additional information on Gousto:
Some basic information about this company is here:
- This company was founded in 2012
- Their website is www.gousto.co.uk
- The company has recently been worth more than a billion dollars
- The total number of employees in Gousto is about 900
What is a “Meal Kit” or “Recipe Kit” Company?
Considering the fact that providing recipe kits is the main business of this company, it is important to understand what this thing is.
Basically, in a meal kit (or recipe kit), customers are provided with a box that contains all the essentials for preparing a particular meal, or the meal is partially prepared (usually). Now all a customer needs to do is mix the ingredients and prepare them. The basic recipe and preparing procedure would be provided too.
Why did Gousto become a technology unicorn?
With the advent of modern capitalist society, and with growing commercialism and globalization, people are finding less and less time for themselves. As a consequence, they may be unable to prepare their food at times, and we all know it is not sustainable to eat outside regularly.
Gousto simply used these circumstances for a creative idea that will facilitate the people a lot. Providing people partially prepared homemade food with all the necessary ingredients, people find it quite easy to prepare food for themselves. It saves them a lot of time and energy. And given our social circumstances, it is obvious that this unique startup had to have a lot of popularity.
Moreover, this company also received a lot of funding from other organizations, which helped it grow in revenue significantly.
Final Thoughts
Gousto is one of the few meal kit companies based in the UK. As of yet, the meal kit industry is expected to grow at $9 billion worldwide, making it a fast-growing industry as compared to many others.