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I think the interesting thing here is the tech development angle; online / mobile ordering and delivery service. I'm sure that it's agreed at Sequoia that the r
by vessenes 15y ago
I think the interesting thing here is the tech development angle; online / mobile ordering and delivery service. I'm sure that it's agreed at Sequoia that the restaurant chain idea is just a hard testing ground for the technology.
The tech is what will be worth the money; the rest of this is just sort of the press being slow.
That said, I do really like the idea of a mobile-integrated ordering and delivery system for the restaurant industry, and of course, fast-concept food is the right place to test it.
- hugh3 15y agothe rest of this is just sort of the press being slow. Or just the press doing exactly what Sequoia wants 'em to. "Sequoia invests in yet another startup doing mobile payments for restaurants" = boring story. "Sequouia invests in grilled cheese" = exciting story. And here we are, we're part of it, helping out by talking about it. But I don't mind, as long as the grilled cheeses are good.
- vessenes 15y agoYou're right. I can imagine the press release now.
- SeoxyS 15y agoBuilding 500 restaurants sure is an expensive way to get a cool press release, if it's just a PR play.
- hugh3 15y agoYeah, the 500 restaurants in the next couple of years is believe-it-when-I-see-it territory. I can't see where the money's going to come from.
- vessenes 15y agoThat's plenty of funding to set up a franchise system. Franchises are typically how fast food companies get funding; they pull it from want-to-be owners.
- rdl 15y agoPresumably, franchises or private equity. Building a new restaurant and IT concept MIGHT be a VC investment, but scaling out to a bunch of physical retail locations is either PE or IPO or a big debt (bond) issue (if corp owned, like Starbucks), or a bunch of franchises (e.g. McDonalds).
- minalecs 15y agoIf this really is a technology play it makes little sense to start with the restaurant, because the restaurants requires much more capital ( physical buildings, marketing and promotions, staff, cost of goods, concept, branding.. etc) than building the software and trying to partner up with existing chains or small to local restaurants.
- ry0ohki 15y agoI don't understand why I'd need to online ordering component when they say it only takes 1 minute to make one. Skipping payment is nice I guess, but lots of places already let you do this with fax ahead orders.
- abraham 15y agoBy what orders? What is this Fax? A new startup?