Turmeric Vision Private Limited, which owns the food channel FoodFood, has sold a majority stake to Discovery Communications. FoodFood has a TV channel of the same name, and a YouTube channel with around 2,500 videos on YouTube and over 260,000 subscribers. Its website FoodFood.com hosts recipes, and this weird take on the 2048 game. In February 2015, YouTube multichannel network #fame partnered with FoodFood for its show ‘Hi Tea’ with chef Ajay Chopra.
FoodFood was launched in 2011 in India and is a joint venture owned by Malaysia-based Astro Overseas Limited, Chef Sanjeev Kapoor and Mogae Consultants. As of the year ended March 2015, according to documents filed with the Registrar of Companies, Sanjeev Kapoor held 167,875 shares (for 4.15%); Khana TV LLP had 1,172,442 shares (for 28.95%) and Mogae Consultants held 335,960 shares for (8.3%) in the company.
Kapoor will continue as FoodFood’s brand ambassador and retain a minority stake (size undisclosed) in the company. FoodFood will be managed under Discovery Asia Pacific, led by Arthur Bastings, president & MD, Discovery Networks Asia-Pacific. It is unclear if Khanna TV LLP and Mogae Consultants have retained their stakes or sold them post this deal.
Turmeric Vision reported losses of Rs 12 crore on revenues of Rs 19.88 crore for the financial year ended 31st March 2015 (FY15). For FY14, it had reported revenues of Rs 20 crore and a loss of Rs 16.5 crore. In FY15, it reported digital revenues of Rs 28 lakh, up from Rs 6.2 lakh in FY14.
Discovery says it will sell FoodFood’s advertising, starting immediately.
FoodFood’s shows feature cooking shows from various chefs including Sanjeev Kapoor, Ajay Chopra, Vikas Khanna, Saransh Goila, Rakesh Sethi and Shailendra Kekade. Its shows include Sanjeev Kapoor’s Kitchen, The Fit Foodie, Hi Tea etc. related to Indian as well as international cuisines. Discovery has 11 channels in India including Discover, Animal Planet, Discovery Science etc. The media company has a presence in 220 countries and territories and claims to have 3 billion subscribers.
FoodFood and Sanjeev Kapoor on the web
Currently, FoodFood has over 1.5 million likes on Facebook, 1,600 followers on Pinterest, over 700,000 followers on Google+ which has over 47 million views, 512,000 followers on Twitter (Kapoor has 243,000 followers on Twitter) and 41,000 followers on Instagram (Kapoor has 48,000 followers), where it posts food pictures along with recipes.
Overall, across social media platforms, it seems that Sanjeev Kapoor has more followers than the FoodFood network. As of September 2014, One Digital Entertainment was managing Kapoor’s YouTube channel Khazana, which was then among India’s top 100 channels, with 364,415 subscribers and 115.5 million views, across around 3,300 videos.
On YouTube, Kapoor has over 800,000 subscribers and over 250 million views, however the number of videos is not visible. On his website, Kapoor has recipes, videos, links to buy products as well as jobs for Indian Cookery Private Limited, Wonderchef and Khana Khazana India. On Facebook, Kapoor has over 4 million likes, while on Google+, he has around 930,000 followers and over 64 million views.
Kapoor’s ZuperMeal investment: Note that in October 2015, ZuperMeal, a mobile only food aggregator raised $2 million in seed funding from Sanjeev Kapoor, Ravi Saxena and two unnamed foreign investors.