Photography Start-up Feedsauce Scores an Unconventional Seed Round at £3 Million Valuation
We have witnessed the power of social media many times before, but wait until you hear this story. Omar Choudhry, designer and CEO at Feedsauce, raised a 3 million pounds valuation within 24 hours through his 60k Instagram audience; just by talking about the fundraising challenges small businesses are faced with. Within hours, his messages were flooded with investors putting down cash ready to take Feedsauce to the next level to take over the world of content.
Feedsauce is based on the concept of making spectacular content, but also: quick, accessible and affordable, something completely new to the world of product photography. In a world where visual content is everything now, Feedsauce has come up with a model that hasn’t yet been seen before. The Feedsauce model currently works whereby brands select a style of photos from the Feedsauce library of ‘recipes’, customise the sizes of frame and number of photos needed, and can then have their images shot and ready to be downloaded in as little as 24 hours. This is all managed from the Feedsauce platform, where you can add photos to the checkout just as you would buy anything else online. Omar Choudhry, CEO at Feedsauce comments:
“brands can have their desired photos taken within 24 hours, in other words, their photos can be done quicker than they even check their emails the next day. We manage all the logistics to ensure the content is ready to download and be used quicker than quick. This is unheard of in the space of photography; think of it like the Mcdonalds Drive-Thru of content.”
Within a short time frame of launching, Feedsauce has already worked with big industry players such as Dior, Marvel and L’Oreal; as well as working with home start up brands- helping contribute to an equal playing field for all brands with all different levels of budgets. Feedsauce has already had interest in partnerships from Facebook and Shopify, as well as various other big players in today’s content driven world.
Feedsauce pricing model at just £30 per photo makes this a compelling solution for brands of all sizes. Recently, Feedsauce has experienced high levels of demand especially in this uncertain Covid-19 period where the world has been in a time of uncertainty, but where e-commerce has skyrocketed making what Feedsauce do even more relevant. In the light of this, CEO Omar recognised the need for fundraising to be able to invest into supply and capacity to ensure Feedsauce could continue to grow at the rate envisioned. Sharing the Feedsauce journey to his audience from the beginning, again taking to social media to talk about the challenges of a small business, Omar found himself finding the investment he needed virtually overnight with his vast network on social media. “I didn’t expect much of a response at all, but within minutes I had people in my inbox offers of £100-150k without even a phone call. I’m truly grateful and blown away by the interest.
In a week where the UK has been hit with news of a second lockdown, Feedsauce has been using this time to invest more heavily in technological innovation and an operational infrastructure that can allow customers to get their photos as soon as the next day; following the increased demand they have experienced in the past quarter, invest into a talented team and continue to grow the business on all fronts as we push through into 2021.
Feedsauce creates high quality custom photos on-demand, so brands can have ready to use images as and when they need them. Feedsauce have experienced increased demand since they started in 2017 and continue to be in a position to grow and deliver to their customers. Based on Feedsauce’s average order value and the number of e-commerce brands active, the market size for this type of business is in excess of $70bn. Currently, consumer brands on average spend $1400 per piece of content through traditional methods, such as hiring a product photography freelancer. Feedsauce is able to offer a service which is up to 90% cheaper due to the operational and technological advancements that they have been able to innovate; allowing them to create high level quality content for a fraction of the price. Feedsauce are currently based in London, but have customers from all around the world. As Feedsauce grows, the team envision they will have bases globally to cope with worldwide demand.
For more information on Feedsauce, please visit https://feedsauce.com/ and find us at Instagram Feedsauce (@feedsauce)
Click for: Feedsauce Press Images
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For more information, contact Sabah, Head of PR at Feedsauce at: [email protected]