Melbourne startup ReciMe cooks up a move to New York City in search of US growth
Melbourne-born recipe sharing startup ReciMe has decamped for the next-best foodie destination, New York City, as it pursues growth in the massive American market.
Melbourne-born recipe-sharing startup ReciMe has decamped for the next-best foodie destination, New York City, as it pursues growth in the massive American market.
ReciMe, co-founded by sisters Christine and Ivy Nguyen, and their friend, Will Kent, allows users to import, share, and save recipes in one app.
It is free to download, with premium features available to power users through a paid subscription.
Taking to LinkedIn on Friday, Kent said the co-founding trio moved to New York City in April.
The move is intended to focus ReciMe’s efforts on a market that already accounts for over 75% of the startup’s users and revenue, Kent said.
Setting up a base in the United States will “get us one step closer to ReciMe becoming the go-to platform for cooks to manage all their recipes,” he said.
Its founding team telegraphed the move in December, after a year that saw its user base grow from 20,000 to 400,000 in 12 months.
“As a team, we’re doubling down on the US market, which is the largest market for ReciMe in terms of users and revenue,” Christine Nguyen told SmartCompany at the time.
“Part of the team is relocating there early in 2024 and our entire focus is on acquiring US users given they have stronger retention and a higher willingness to pay.”
By moving to New York City, ReciMe will attempt to follow in the footsteps of locally-born startups like Export360 to put down roots in the metropolis.
The startup will now seek to grow its paying userbase, after claiming annual recurring revenue of $60,000 in the final months of 2023.
Previously, ReciMe booked $500,000 in pre-seed funding from the Alice Anderson Fund, Even Capital, and Tractor Venture’s co-founder Jodie Imam.
