Coco App
The new way for students to skip cafeteria queues in College Campuses.
Startup Snapshot
Startup name: Coco App
Industry: Foodtech
Business Model: B2B2C, SAAS
Founders: Antonio Miguel Vivanco, Juan Pablo MartÃnez, Conrado Andrade
Operates in: Mexico
HQ Location: Puebla
Team Size: 7
Founded: 2021
Stage: Seed
Investors: Friends and family
Accelerators: Founder Institute
Website: cocoapp.mx
What does Coco do?
Coco eliminates cafeterias´ congestion by enabling campus-wide food ordering from one App. This allows students to order food anywhere on Campus, creating loyalty and skipping queues.
What’s your backstory?
Juan Pablo and Antonio became acquainted in their high school class, and they quickly realized that they both had a common issue - wasting time waiting in long lines to order food during their short breaks between classes. It was when Antonio's tardiness caused him to flunk a class which prompted them to seek a solution to this problem not just for themselves, but also for others. From that moment on, they began reinventing how students order food on campus. Soon after, they made their first hire, Conrado Andrade, whose incredible contributions earned him a seat at the founder’s table.
How did you acquire your first customers?
Coco’s first customer was the Universidad Anahuac in Puebla. To attract their first users, they offered free donuts to anyone who downloaded and registered on the app. This strategy was very successful and led to a rapid increase in downloads and adoption rates. Their success at the Universidad Anahuac Puebla allowed them to expand their services to other universities soon after.
When did you realize you had achieved PMF?
Juan Pablo and Antonio realized they had achieved Product-Market Fit (PMF) when they observed that not only schools but also restaurants began utilizing Coco. However, they noticed that schools generated significantly more transactions than a restaurant. With this insight, the team decided to focus solely on schools, accelerating MoM user, transaction, and revenue growth.
What's your motivation?
Coco's founders are motivated by their solution’s significant impact on the cafeteria and student experience. They are confident it can transform an entire generation's approach to food ordering in their schools.
What's next for Coco?
Coco has set its sights on becoming the leading player in the Mexican market within the next year and plans to expand its reach into other parts of Latin America by the end of 2024. In the coming years, the company is committed to entering different niches to increase its lifetime value (LTV). Also, the team intends to create new ways for students to interact with its services, making it easier for them to use.
Tips for other founders:
When you have a big cake, and your goal is to eat the entire thing, it's best to start with one piece. This way, you can digest the rest more easily. Similarly, focusing on dominating a specific niche is essential when embarking on a large project. Instead of trying to please a thousand people who only mildly like your product, focus on getting a hundred people to love it. Once you have succeeded in that niche, you can replicate the formula across the rest of the market and eventually dominate the entire industry.
Special offer for our readers!
20% revenue share for three months for every college campus referred. *
*Must use the provided link. The offer is valid until the end of 2023.
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