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Revolutionizing Waste: How OLIO is Changing the Sharing Economy

OLIO App and Model

In today’s age, we are increasingly hearing about food waste and its impact on the environment. This is where OLIO comes in, with a revolutionary model and platform that allows people to share spare food and household items with each other.

The OLIO app is available for both Android and iOS users, making it accessible to a broad range of people.

How OLIO Works

The app works by allowing users to list any extra food or household items they have at home that they want to share. They can set a pick-up location and browse listings from others in their local area.

Once they find something they like, they can arrange for pick-up with the person who has listed it. OLIO relies on volunteers to help distribute the items, making it a community-driven model.

Founding Story of OLIO

The idea for OLIO came to Tessa Clarke and Saasha Celestial-One when they were frustrated with the amount of waste they saw in the food industry. After completing their MBA at Stanford University, they decided to start OLIO in an effort to reduce wastage and promote a more sustainable future.

OLIO’s Growth Trajectory

Since its inception, OLIO has been on a growth trajectory with multiple partnerships and funding rounds. It has partnered with major businesses like Tesco to reduce their waste and has launched BORROW, a platform for sharing non-food items.

OLIO has also expanded its reach globally, with listings in over 50 countries.

How OLIO Makes Money

Despite the app being free to use, OLIO has managed to generate revenue through various streams. One of the significant sources of revenue comes from fees paid by businesses that use the app.

For instance, Tesco pays OLIO to have its Food Waste Heroes list unsold fresh produce on the platform. Another revenue stream comes from subscriptions.

OLIO supporters pay a monthly fee to access additional features like Reciprocation, which allows users to swap items with one another. Finally, OLIO generates revenue through the sale of its branded clothing and merchandise.

OLIO’s Revenue Streams

Fees from Businesses

A significant proportion of OLIO’s revenue comes from fees paid by businesses. The company has partnered with Tesco, the UK’s largest supermarket chain, to tackle food waste.

Tesco employees list unsold fresh food on the OLIO app, which can then be picked up by community members. This partnership has allowed Tesco to redistribute hundreds of thousands of meals to people in need, while also reducing waste.

By charging Tesco for the Food Waste Heroes service, OLIO generates a significant portion of its revenue.

Subscriptions

Another source of revenue comes from subscriptions. OLIO supporters pay a monthly fee to access additional app features.

These features include Reciprocation, which allows users to swap items instead of just giving them away, and badges that show how active a user is on the platform. By charging for these features, OLIO can generate a steady stream of revenue while also providing added value to its users.

Merchandise

Finally, OLIO generates revenue by selling branded merchandise. While this may seem like a small revenue stream, it serves two purposes.

Firstly, it helps to promote the brand and increase awareness. Secondly, it provides an additional source of revenue that the company can use to fund expansion and growth.

OLIO’s branded clothing, water bottles, and shopping bags are all popular items that are sold through its website.

Conclusion

In conclusion, OLIO’s innovative model and platform are helping to reduce food and household wastage while promoting a more sustainable future. The app’s community-driven approach relies on volunteers to distribute items, making it a unique and empowering experience for its users.

OLIO has managed to generate revenue through a variety of means, including fees from businesses, subscriptions, and merchandise sales. As the world becomes more conscious of waste, it is no doubt that OLIO will continue to grow and evolve with the needs of its users.

OLIO’s

Funding, Revenue, and Valuation

OLIO, the app that enables the sharing of surplus food and household items, has been growing rapidly since its inception. The company has been able to raise significant funds to support its growth through equity-based funding rounds.

OLIO’s success has also translated into revenue growth and increased valuation for the company.

Funding

Since OLIO received its first round of funding in 2016, it has raised over 10 million in equity-based funding. The most recent round in June 2021 saw the company raise 4.6 million in funding led by Octopus Ventures, an early investor in OLIO.

The goal of the funding round was to continue OLIO’s growth trajectory and facilitate its international expansion. Overall, OLIO has been successful in securing funding from a variety of sources, including VC firms and angel investors.

By raising equity-based funding, OLIO has been able to acquire the capital that it needs to support its growth and expansion efforts. The company has successfully maintained its independence, remaining a private company with no plans of going public in the near future.

Revenue and Valuation

OLIO’s revenue has been increasing steadily over the past few years. In 2020 alone, the company generated 130,000 in revenue, which was a significant jump from the previous year’s revenue of 50,000.

However, due to the company’s private ownership, it is not required to disclose its financial statements publicly. Despite the lack of publicly available financial information, OLIO’s valuation has been steadily increasing, thanks to its successful fundraising rounds and growth trajectory.

With the recent 4.6 million in funding, OLIO’s valuation has reportedly increased to 28 million. This valuation is a significant increase from the company’s previous valuation of 16 million back in 2019.

OLIO’s success in securing funding and increasing its valuation is a testament to the potential of its sharing platform for reducing food waste and promoting sustainability. The company’s community-driven model has resonated with users, allowing for a significant expansion of its user base.

The company’s growth potential and revenue streams likely play a critical factor in its increasing valuation. As OLIO continues to expand globally and find new partnerships, it’s valuation is expected to increase even more.

Conclusion

In conclusion, OLIO’s equity-based funding has enabled the company to remain independent and support its growth and expansion efforts. The company’s revenue has been increasing steadily over the years, although the actual figures are not disclosed due to its private ownership.

Despite this, the company’s valuation has been rising impressively, reflecting its potential for further expansion and growth. OLIO’s community-driven model has had a tremendous impact on reducing food waste and promoting sustainability.

With its success in funding and valuation, OLIO has the potential to be a significant player in the sharing economy and make an even greater impact on our planet’s environmental well-being. In summary, OLIO is a sharing platform that enables users to share surplus food and household items, reducing waste and promoting sustainability.

OLIO has been successful in raising funds through equity-based funding, totaling over 10 million. Although revenue figures are not publicly available due to OLIO’s private ownership, the company’s valuation has been increasing and is currently at 28 million.

OLIO’s community-driven model has resonated with users, allowing for significant expansion and growth potential. The company’s success favors it to have a significant impact on reducing food waste and promoting sustainability while continuing its upward trajectory.

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