Tobey and Richmond met at Haas School of Business and came up with the idea of Revolution Foods, a social entrepreneurship venture combining their backgrounds in education and love of food. They wanted to deliver nutritious and healthy lunches to schools. They raised $500,000 initially and launched a pilot program serving one Oakland school. Within two years, they grew to serving 5,000 lunches daily in 30 Bay Area schools. Currently, Revolution Foods employs 120 people and delivers over 20,000 lunches per day to more than 100 schools in California, with plans to expand nationwide.
2. BY THESE FEW BOYS:
Corporal Teo Zi Bin
Corporal Victor Wong
Corporal Yap Yong Shen
Corporal Tay Zhuo Wei :D
3. WHO ARE THE SOCIAL ENTREPRENEUR???
Tobey and Richmond.
They came up with the
social entrepreneurship
4. HOW THEY MET???
Tobey and Richmond met at the
Haas School of Business and
hatched the idea of creating a
venture that combined their
backgrounds in education with
their shared love of food.
5. WHAT WAS THEIR PLAN??
Tobey and Richmond wanted to
devise a concept to deliver
nutritious and healthy lunch
6. HOW THEIR PLANS TURNED INTO WORK
They raised $500,000 in seed money
from venture capital firm Investors
and partnering with executive chef
,Amy Klein, launched a pilot
program at one Oakland school in
the spring of 2006
7. HOW THEIR PLANS TURNED INTO WORK
By year's end, they were serving 10
schools. Within two years, Revolution
Food went from serving 500 lunches a
day to 5,000 in 30 Bay Area Schools
They raised two additional rounds of
funding totalling $10 million from
Catamount Ventures and the Westly
Group.
8. HOW ARE THEY DOING NOW???
Currently, with 120 employees and two
commercial kitchens, Revolution delivers
more than 20,000 lunches to more than 100
schools in the Bay Area and Los Angeles,
with plans to expand across the country.
Last year, the company earned $4 million in
revenue for their fiscal year that ended in
June .They are now on track to make $10
million this year