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Invest in EatOkra

🍴EatOkra is a platform that makes it easy to support Black-owned restaurants

Highlights

1
📈 450k+ downloads on Andriord and IOS, 1,500+ Reviews avg. 4.7 ⭐️
2
💵 2021 revenue exceeded $1.2M from contracts, $500k in contracts as of 2022.
3
🤝 Strategic Partnerships with Pepsi, Apple Maps, and Uber Eats to drive over $100M in sales to black-owned restaurants
4
🤓A strong team from the U.S. Department of Homeland Security, US ARMY, BuildingBlok, New Era Cap, Mastercard, & more...
5
🏆 2021 AppleStore Developer Award Winner (1 of 15) 🎉

Our Team


FOODIES OF THE WORLD, UNITE!

INVEST IN THE FUTURE OF THE LEADING
BLACK-OWNED, COMMUNITY-DRIVEN,
RESTAURANT ENGAGEMENT AND DELIVERY PLATFORM 

We believe EatOkra is the first community-driven platform connecting customers to black-owned restaurants in their neighborhood. Our aim is to increase the discoverability of so many black-owned restaurants that go unnoticed on competitor platforms', and become the most trusted ordering platform for black restaurants. A niche valued at over $3billion in the U.S. alone, according to... 

We founded EatOkra because we saw an opportunity to foster stronger relationships between black restauranteurs and the communities they serve. By enabling them through a standalone product to increase their discoverability, revenue streams through our marketplace for goods, delivery partner options, event hosting, and the ability to market directly to individuals interested in their offerings which increases their likelihood of a Return on Investment. Not only do we provide all these benefits, but the ability to share their story and receive genuine feedback from their community makes EatOkra the perfect partner for them.

So, what is this all leading to? We, as a community, make ripple effects every single day. From the businesses, we support in our neighborhoods on a micro level to our overall contribution to the economy on a macro level. Our mission at EatOkra is to be a part of that change by increasing the bottom line and providing the necessary tools for Black Restauranteurs to thrive in this market. So as we continue on our journey to do just that, we would like to invite our friends, family, restauranteurs, early adopters, customers, and all-around stakeholders to join in on our first capital round.  

We will be carving out an allocation of our current round specifically for our community by utilizing a Community Round platform aka RegCF portal to do so. We invite you to join this mission alongside us to provide the necessary tools for black restauranteurs to turn from a niche to mainstream. Become a shareholder of a company providing value for black-owned restaurants.

Check out
the app in the 🍏&🤖 app store.


TELL US YOUR STORY

EatOkra came about in late 2016, Janique Edwards had recently moved from the Bronx to Brooklyn, NY. Janique and Anthony knew absolutely nothing about the neighborhood, but on that day they ventured out to find food and a space that felt familiar. That is how the concept of EatOkra was born. Their story is an organic one, she was hungry, and they wanted something to eat. However, they wanted to have a meal in a place that was inclusive and reminded them of home.  

After a few days, they were very taken aback by the lack of awareness of such black spaces. Looking through other directory platforms, it was difficult to pinpoint businesses that catered to what they were searching for.  So, they decided to build it themselves and the rest is history! 

SO WHAT IS THE PROBLEM?

Along with the normal challenges of starting a business, Black restaurant owners face obstacles that make it difficult to thrive. 

  • Some owners lack the knowledge, resources, time, and skills to market themselves and acquire new customers. (Source)
  • Pre-existing inequities have been compounded by the economic crisis brought on by the pandemic. (Source)
  • Food delivery aggregators fail at verifying Black ownership. (Source)

Even though 70% of cuisines ordered on platforms like UberEats are from Non-American cultures. (Source) These are just a few key challenges many faces in this industry. 

TELL US ABOUT YOUR SOLUTION

Our solution is a business directory focused on black restaurateurs. Local chefs and food creators who provide their goods and services on our a food-themed directory of Black-owned restaurants in local communities. Not only are they able to list themselves on our platform, but customers can nominate them onto the platform providing them a buy-in from individuals that love their service. 

EatOkra is more than just a directory, we provide on-platform marketing tools, delivery service integration, digital events management, and a suite of additional tools to come to help those within our community. 

Below is our app 😋 👇

SO WHY NOW?

Well..." BLACK OWNED" is a growing opportunity space

Nearly 45% of consumers in the United State agree that companies should pledge to support Black-Owned brands, suppliers, and vendors (Source). Nearly 90% of black consumers say that supporting Black-owned businesses is important to their buying decisions (Source) and Gen Zers are 1.4 times more likely to say that inclusivity is one of the most important factors in their buying decisions (Source).

HOWS TRACTION

Well, it's been CRAZY!

We've grown since we first launched in 2016, from 347 users to more than 400k+ users. We are extremely grateful to our partners and stakeholders.

Over 1500+ positive reviews and...

Because of them, we've been able to partner with Pepsi, BET, Budlight, and UberEats to position ourselves as an advocate at the forefront of solutions for Black restauranteurs and our target market.  

🍏 Winning an Apple App Trend of the Year Award in 2021 from Tim Cook himself 🏆


I mean have you seen our business spotlights?...

Click for episodes

Mrs. Carters Kitchen, Click Here | Pearl's Place, Click Here | Make My Cake, Click Here, and many more on Budlights and UberEats Superbowl spots.

SO HOW DO WE STACK UP AGAINST OUR COMPETITORS?

So what makes EatOkra different, unlike other platforms Black-Owned restaurants aren't just a seasonal category for us. We see black-owned restaurants are the cornerstones of many communities here in the United States. Our mission is to enable Black-owned restaurants to continue serving as the cornerstones of their community through access to training courses and mentors that work with small and medium-sized businesses in order to increase the survival rates of so many of these businesses. 

We provide multi-services for these Black-owned restaurants and provide them a safe place to connect, share insight, and support one another while allowing them a platform to reach out to platforms like UberEats with their needs. 

WHAT IS YOUR CURRENT MARKET ANALYSIS?

As seen below, our current Total Available Market is around $42B in regards to Food Delivery by 2025 (Source). Our Serviceable Market is around $3.4B, which has an 8% makeup of black-owned food businesses. We are targeting a Serviceable Obtainable Market of $92M. 

How do we do this...well let's first review our Business Model

So EatOkra has three main points of revenue.

1. Brand Partnerships:
Our brand partnerships work alongside institutional stakeholders aiming to provide favorable services to our network of black restauranteurs.

2. EatOkra Service Fee:
On every order, EatOkra charges a service fee for facilitating the order through our platform from our current delivery partners. 

3. Restaurant Listing Fee:

Lastly, our restaurant's partners pay an annual subscription fee for listing on our platform and access to our educational content and tools.

Our current Pro Forma is as follows...

We see a gradual change from the platform's reliance on Brand Partnerships as we scale and develop our own in-house ordering options, that will provide direct value to our business partners and us. 

TODAY WE ARE FUNDRAISING FOR OUR FIRST-EVER EQUITY ROUND.

We aim to raise a total of $2.5M during this round, with a 10% allocation of the round to our community. This round will provide us a runway of 18 months and will help

1. Build our Team:

Currently, we are looking for the following positions to be filled:
- Product Manager
- Growth Marketer
- Project Manager

If you know of anyone feel free to drop their LinkedIn in this airtable. (Click Here)

2. Launch in-app ordering in 5 markets

3. Establish our Product Market Fit

4. Grow our Customer Base

6. Get us to Profitability 

From U.S. Department of Homeland Security, US ARMY, Grubhub, BuildingBlok, New Era Cap, Mastercard, Reimagine Digital, NY Tech Alliance, and more...

The women and men of EatOkra have a century of combined leadership, software development, branding, and hospitality experience between them. They’ve worked in front of the camera as Founders and behind as Advisors. Have had successful exits and sat in senior positions in multiple industries

So that's our story and we are sticking to it! 

From a moment like many others that have passed to a decision to uphold local black businesses. To the present, where we have built the framework to support a community that has been the cornerstone for so many. This is what we were built to do at EatOkra!

SO, JOIN US ON THIS JOURNEY, AND INVEST IN THE TECHNOLOGY AND TEAM PAVING THE WAY FOR OUR COMMUNITIES FUTURE.

Overview