Preventing waste with a marketplace for food nearing its ‘best before’ date
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Preventing waste with a marketplace for food nearing its ‘best before’ date
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While millions of people struggle to afford adequate nutrition, 40 percent of all the food produced in North America ends up wasted. And a lot of that food is perfectly edible, but sent to landfill simply because it’s getting too close to its best before date. Today’s company is working very hard to change that.
Jordan Schenck is the CEO of Flashfood, a company with a platform that lets grocers sell near-expired food to deal-hungry consumers at a discounted rate. And through their marketplace, they’ve compiled reams of data on user preferences that give grocers unprecedented insight into where shrink is occurring, and how to prevent it.
So will grocery giants be willing to let inventory go at a discount? And if they are, what's to stop them from just doing it themselves?
Let’s find out.
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To learn more about Flashfood, you can check them out at: https://flashfood.com/
If you have any feedback on today's episode, shoot us an email at PIPE@bcg.com
For more information on BCG’s commitment to sustainable investing, and to stay updated, visit our website at: https://www.bcg.com/industries/principal-investors-private-equity/sustainability-in-private-equity