Well here’s a Kickstarter success story if we’ve ever seen one. Four years after the completion of its successful crowdfunding campaign and a couple high-tech device releases later, Anova has achieved the dream of many startups — acquisition. On Monday, the company that sought to make sous vide accessible to home cooks everywhere announced that it had entered into an agreement to be acquired by Electrolux. The Swedish home appliance maker will pay $115 million in cash up front and an additional $135 million later, subject to adjustments and the achievement of certain financial objectives.
Anova, which has helped gourmands everywhere tap into the seemingly complex cooking technique by way of its smart device, very recently debuted an even more affordable version of its sous vide cooker at CES 2017. And to continue in its quest to turn home cooking into fine dining, Anova says that this latest chapter in its company storyline only aids in its overall goals.
“Our vision has always been about building an Anova Kitchen — a kitchen where devices are accessible, affordable, and connected in a meaningful way to help people cook like pros, every day,” said Stephen Svajian, CEO and co-founder of Anova, “We’re excited to join the Electrolux family and to continue this mission of building the smart kitchen of the future.”
Electrolux says that it will seek to have Anova maintain its unique culture, which Svajian has been cultivating since the company got its start in 2013. As per the brand’s press release, “Anova will continue to operate under Svajian’s leadership and with its own distinct brand identity.”
With the addition of Anova to its portfolio, Electrolux may be able to up its game when it comes to smart, connected devices (clearly all the rage with the rise of the Internet of Things). “This is a space we are developing in and learning in and this is a way for us to accelerate that learning in terms of smart, connected devices,” Electrolux CEO Jonas Samuelson said.
The executive further noted that it wants to tap into Anova’s highly effective direct marketing and sales network that has forged a community of half a million customers who have bought a sous vide machine, and who remain engaged for recipes, updates, and more information from the startup.
So take a close look at Anova, aspiring entrepreneurs. Looks like this smart kitchen device company did something right.