In Shark Tank Vietnam season 3 aired on October 9th, 2019, Do Phan Hoang Suong – CEO of DalatFoodie made a strong impression on Sharks and TV audiences about his startup story.
Stemming from the sympathy with the common concerns of pregnant women about the safety and health of their children since they were still in the womb, DalatFoodie aims to expand the industry of producing Organic food and raising health and environmental awareness as well as sustainable agricultural development.
The amount of 460 million VND of profit after 4 years of establishment through the specific calculation of the founder with a good financial background let Shark Viet himself humorously call the startup project the ancestor of an economist due to constant losses in agricultural business. After the negotiation process, the CEO of DalatFoodie successfully persuaded Shark Nguyen Thanh Viet to invest 5 billion VND for a 20% of share.
Shark Nguyen Thanh Viet determined that agriculture was a sustainable industry and agreed to delay the due diligence time for DalatFoodie to serve customers and prepare documents due to the increase in the number of orders. After 6 months of due diligence, both parties officially signed investment cooperation on June 8th as the last round of appraisal took place at the end of May.
DalatFoodie CEO Do Phan Hoang Suong exposed gratitude on Intracom and Shark Viet’s support during the business appraisal from process standardization to business orientation. This collaboration between DalatFoodie and Shark Nguyen Thanh Viet and Intracom has brought a new opportunity for DalatFoodie to expand its market, bringing organic products at reasonable prices to more customers.
Shark Nguyen Thanh Viet highly appreciated both the DalatFoodie team for the meticulousness activeness in work and DalatFoodie’s products for the diversity, freshness, and the combos divided by customer segments come with attractive preferentiality.
Intracom would please be an ecosystem that could support and direct the business to bring clean and fresh products from the farm to every Vietnamese family.
Intracom also determined that clean agriculture will dominate in the future due to the bad impact of diseases and environmental issues on human health. Intracom would cooperate with technology companies to help DalatFoodie trace the origin of foods and vegetables, to create absolute faith from customers.
After signing the cooperation agreement and receiving support from Shark Viet and Intracom, DalatFoodie would expand the market to the North by opening stores in Hanoi the next July.
Along with providing fresh fruits and vegetables for customers to cook themselves, the company also sells Jarganic products including fruit juices, instant Salad, and develops a range of specialized weaning products Weabie for children. Especially, DalatFoodie will prepare and present a cooking suggestion recipe to help customers save time in processing fresh, nutritious dishes when purchasing products by a combo.
In the investment signing ceremony with Intracom on June 8th, 2020, DalatFoodie also signed a cooperation agreement with ZaloPay to provide a convenient online payment platform. Currently, the product has been widely sold through food delivery applications such as Grab, GoViet, Now, Baemin, and E-commerce as Shopee, Lazada, Sendo.
Source: To Quoc News
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