INSUBCONTINENT EXCLUSIVE:
Brava had a lot of things working in its favor, as startups go
It was founded in 2015 by serial executive John Pleasants, whose past stints have included being co-president of Disney Interactive Media
Group, COO of Electronic Arts and CEO of Ticketmaster.His plans to create a suite of snazzy direct-to-consumer smart hardware and software
products, beginning with the Brava oven, also attracted tens of millions of dollars from an impressive lineup of backers, including True
Ventures, TPG Growth and Lightspeed Venture Partners, among others
Indeed, though some sophisticated kitchen devices have come and gone (Juicero), some liked what Pleasants and his growing team in Redwood
City, Calif., were trying to cook up
One of these admirers, apparently, was the Middleby Corporation, a publicly traded commercial and residential cooking and industrial process
via email yesterday with both Pleasants and the CEO of Middleby, Tim FitzGerald, to learn what they can share about the tie-up, as well as
to ask what happens to Brava and its tens of employees now.TC: This was a young company
the fastest way to achieve this bold goal is through a strategic partnership with someone who can help make that happen.TC: How did Brava
about financing, and a select group of strategics about a deeper partnership to achieve our objective
We had the assistance of City Capital in the process, and they made the introduction to Middleby in Chicago.TC: How much is Middleby paying
for the company? Also, is this an all-cash deal?JP: While not disclosing the total amount, the consideration includes a mix of cash and
only continue but see accelerated growth and expansion
We will continue to sell the product and support our customers under the Brava brand while further innovating new products and services for
our customers.TF: The Brava name will remain
The product and technology will enhance our existing residential and commercial kitchen appliance portfolio
employ and how many if any are going to Middleby?JP: Brava employs 38 people and all will be going to Middleby
services for their existing brands
segments (residential and commercial) and geographies
This all becomes more feasible with Middleby.TC: We last talked before the Brava oven was out in the world
lessons learned with this experience?JP: People love it
You can see this every day throughout our online communities
we hear comments all the time about how spouses who hardly ever cooked now do, how kids who never liked vegetables now ask for more ..In
we can do) and more flexibility; we can uniquely cook multiple ingredients simultaneously to perfection with our light-cooking technology
and this enables lots of fun combinations [but] our customers would like even more flexibility in mixing and matching ingredients.TC: Any
true.TC: Do you think the market for smart cooking appliances is big enough at this point? What do you think are the remaining hurdles and
There are still very few pioneers in the space and household penetration is negligible
But this is all about to change
Once people know someone who can personally attest to the benefits, I fundamentally believe the adoption curve will bend exponentially
home cooks] who currently rely on and demand a digital experience.
