Funding

My question is, how are you guys funded? Certainly there isn't enough income generated through the memberships and the sales generated through your site, or am I wrong? There seem to be a great number of ChefSteps employees in the films you have made. How can we be assured that you will continue to be there in the coming years?

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Afonso_Tito_de_Morais_164825

They monetize a bit from youtube, but that's like 1 employee's yearly salary or something. This is a good question. With Joule obviously coming to play a part in the future, I wonder who funded the start of the company and all it's uber expensive equipment and great employees. Praise whoever did it, for he is the best patron of them all!

elviswasjesus

Co-founder Chris Young addressed this a couple of years ago:

https://www.chefsteps.com/forum/posts/how-does-chefsteps-make-money-10

I'd assume (always a bad way to begin a sentence) that a % of revenue for ChefSteps also comes from back of house activities we don't see: consulting, events, recipe development, etc.

You can't be assured ChefSteps will continue to exist in the coming years, any more than you can be assured any company will stick around - but everything I've read about the careers of Chris and Grant leaves me comfortable in betting on it.

Amos_Schorr_168815

The Modernist Cuisine cookbook has made tens of millions of dollars in sales after selling well over 100,000 copies. I'd imagine Chris and Grant probably used a nice piece of their earnings to bootstrap. And Gabe Newell gave them a low-interest loan after falling in love with them after buying a private dinner cooked by them in an auction. They haven't received any VC funding that I know if.

Their classes probably made them a decent amount of money. They probably also monetize through affiliate marketing (though that's probably not a major revenue stream). Restaurant consulting is very lucrative, but I doubt they do much of that anymore. They've already got a lot on their plate.

Theo_129732

Maybe Chefsteps will put you in touch with their accountant, or maybe you should just order a joule or two, and refrain from asking inappropriate questions.

brian_martin2001

I have a question for you: why do you honestly think this is any of your business? Granted every member here wants them to keep going. There's a wealth of knowledge here that no one wants to lose. There it's no guarantee that ChefSteps is going to remain. There's never any guarantee that any business, product, service, or website will remain or endure. That is a risk that every person who enjoys something out in the world takes. If you walked in to any business, and demanded to see their financial books, chances are you'd be told to leave. I fail to see how this is any of your business.

Sally_1141148

I totally agree with your point of view.There was a story that happened with a friend of mine that has a small business in his hometown and he struggling through some financial issues for a couple of time as his business was attacked by some companies that wanted to kill this business of my friend, all right I don't know the exactly story of this but the only thing I know is that this friend of mine took a loan from https://credit-10.com/mx/ to keep his business alive and as far as I know he succeed. So the main Idea is that every project could not last for a long term but you need to fight for it to keep it alive, if this is your project you need to do everything to keep it alive and only then you will succeed