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Company Background Video (run time: 13:19)

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Company Background Video (run time: 13:19)

Company: Spoon University

1. 00:00:13.056 Spoon University is a food media company for young people.

2. 00:00:16.128 So what that means is we’re a lot like the Food Network

3. 00:00:18.688 and that we have recipes, restaurant reviews, healthy eating tips, food news all
about

4. 00:00:23.552 how food can fit into your life

5. 00:00:25.344 but it’s all made by college students and young people on campuses all around
the world.

6. 00:00:29.696 So we empower teams of students

7. 00:00:31.744 that work with a student publication on their campus

8. 00:00:34.048 to come together to form a community, to build a team, and develop skills and
then start having the fruits of their labor

9. 00:00:40.448 and their work is seen on an international scale.

10. 00:00:43.520 So Spoon originally got started when Sarah and I were undergrads at
Northwestern. We had moved off-campus for the first time into our

11. 00:00:49.920 apartments

12. 00:00:50.944 and suddenly realized we had to figure out how to feed ourselves

13. 00:00:54.016 and we’ve been prepared for so many things run our lives except for this really
important aspect of

14. 00:00:58.880 college.

15. 00:01:00.416 It was so strange to us because there are so many other students on campus
who were probably going through the same thing.

16. 00:01:05.024 We basically wanted to bring everybody together to figure this

17. 00:01:07.584 this thing out together.

18. 00:01:08.864 There was a ton of food media out there like Food Network, Bon Appetit, all
these amazing resources out there

19. 00:01:15.008 but nothing really for us specifically.

20. 00:01:17.056 You know college students do not have a lot of time or money or
experience or resources and so

21. 00:01:22.176 the best

22. 00:01:23.200 the place to learn was from our peers and from each other. So we
wanted to build something to bring everyone together around that

23. 00:01:28.832 we started a publication on campus

24. 00:01:30.624 built the team to about a hundred students. There were writers,
photographers, editors, videographers

25. 00:01:35.232 marketing people ad sales kind of

26. 00:01:38.304 the whole spectrum.

27. 00:01:39.328 And we started getting emails from other people from other
schools who had heard of Spoon

28. 00:01:42.912 and wanted to bring it to their university and so

29. 00:01:45.984 what we realized after launching our first couple of chapters [in our] senior year
was that

30. 00:01:50.848 a lot of college students wanted to be entrepreneurial that needed the help to
get started

31. 00:01:55.968 and a lot of people are suddenly interested in food. Whether that was just

32. 00:01:59.552 for sustenance to try to feed themselves or it was this new passion that people
have they wanted

33. 00:02:04.160 explore

34. 00:02:04.928 and really this idea of bringing people together around the community and

35. 00:02:08.512 having all the content and the experiences are really authentic

36. 00:02:11.584 was

37. 00:02:12.608 really impactful in a way that I think has been done before.

38. 00:02:15.936 So when we graduated we decided to test out over the summer to see if

39. 00:02:20.800 Spoon was a viable thing that could exist in other universities.

40. 00:02:23.872 Sarah spent the summer teaching herself how to code, building a website that
could accommodate these first initial schools

41. 00:02:29.760 and I was going out on campus virtually trying to find other students to start
chapters.

42. 00:02:34.368 It was just me and her on the couch in Evanston finishing out our
leases

43. 00:02:38.720 and by the end of the summer had a lot of great interest in starting new
chapters, the site was launched it was alive

44. 00:02:45.632 and then we knew that moving to New York was going to the best place for
media for startups and entrepreneurship and we could build our network here.

45. 00:02:52.800 So we moved to New York

46. 00:02:54.336 spent that first-year kind of just

47. 00:02:56.640 plugging away on our couch building more chapters building more things on
the site

48. 00:03:00.736 and it was it was quite a grind I think that looking back on it it was

49. 00:03:06.624

50. 00:03:07.392 difficult although we didn’t know how difficult it was going to be and I think
that’s what allowed us to kind of push through.

51. 00:03:14.560

52. 00:03:15.840 And so we began doing that for about a year we were at about what, 30
campuses

53. 00:03:18.912 maybe and then

54. 00:03:20.448 got into the Tech Stars accelerator program in New York.

55. 00:03:23.776 That was really turning point for us because suddenly we were a little bit of
investment we had other people who

56. 00:03:30.176 we’re validating what we were doing

57. 00:03:31.200 and that program kind of really help us

58. 00:03:33.760 set on this trajectory towards where we are today.

59. 00:03:41.952 So the monetization model for Spoon is to be able to connect brands into our
audience in an authentic way.

60. 00:03:47.840 So what traditionally media companies have done the past is try to reach scale
try to get

61. 00:03:52.192 millions [and] millions of people on their site so they can monetize with
against banner ads that brands wanted to put their creative against.

62. 00:03:59.104 You very much see that the industry is moving away from that. So rather than
going that route work completely ignoring the banner ad

63. 00:04:06.016 monetization route saying we want to build more authentic
experiences. We want to have this engagement in this life deeper connection with the students
that

64. 00:04:12.416 already trust us.

65. 00:04:13.440 So the way that we’re connecting brands into that is through sponsored
content.

66. 00:04:17.280 So working with

67. 00:04:18.303 a company

68. 00:04:19.071 understanding what their needs are, what their pain points are, what values
they want to communicate

69. 00:04:23.679 and then pairing them with students who have

70. 00:04:25.471 been top

71. 00:04:27.263 contributors for a while and saying okay let’s bring this brand to life let’s
communicate

72. 00:04:31.615 they want to communicate

73. 00:04:33.919 in a college student voice.

74. 00:04:34.687 So that could be on content on the site, video, even

75. 00:04:38.527 it even extends into social media. So a lot of brands are also wondering how do
we reach this audience in social media

76. 00:04:43.647 as it’s not native to them at all.

77. 00:04:45.439 So we can also create authentic content

78. 00:04:47.231 whether it’s on Snapchat or Instagram or promoting things across Facebook

79. 00:04:51.071 and charge brands to be able to have access our community but also kind of in
the consulting way of understanding how people are using

80. 00:04:58.495 these platforms. And then we are also able to activate events
and experiential

81. 00:05:02.335 campagins on campus as well.

82. 00:05:05.407 So for a lot of like

83. 00:05:06.687 food companies, specifically with a CPG there is a lot of product

84. 00:05:09.759 they want to get into the hands of the right people

85. 00:05:11.807 and so are you able to connect them similarly with our network of students to
be able to throw

86. 00:05:16.415 events around a product on campus or some sort of activity

87. 00:05:19.487 that is beneficial for the campus in the chapter themselves that is also
beneficial for the brand.

88. 00:05:26.143 Another thing that we’re actually exploring is this whole idea around

89. 00:05:29.215 consumer insights and understanding behavior.

90. 00:05:32.543 College students are looking for kind of a black box

91. 00:05:34.591 for a lot of companies and so we can

92. 00:05:38.175 help connect them with

93. 00:05:39.711 our students whether it’s in focus groups or surveys or

94. 00:05:43.039 your product testing things like this and there’s a lot of opportunity kind
of

95. 00:05:47.391 as a side revenue stream to be able to explore

96. 00:05:50.463 and helping

97. 00:05:51.487 big companies understand really what young people want and what they’re
thinking and what their preferences are.

98. 00:06:01.471 So our community team is kind of where it all started and our first fire was

Andrea

99. 00:06:06.335 who actually work with us at Northwestern.

100. 00:06:09.663 She came on to basically

101. 00:06:10.687 help us launch

102. 00:06:11.711 new chapters at

103. 00:06:12.735 universities and maintain them and grow them and help all the

104. 00:06:15.551 student be successful. So it really starts at the community team.

105. 00:06:18.367 Right now we have 4 Community Managers

106. 00:06:20.927 and one is responsibility for growth so getting new people

107. 00:06:24.767 interested in Spoon, getting their chapter is up and running and getting them
launched.

108. 00:06:28.351 Then we have three Community Engagement Managers

109. 00:06:30.655 who are responsible for maintaining all the chapters we already have
launched, helping them solve problems, helping them grow helping them

110. 00:06:37.055 be as successful as possible.

111. 00:06:38.591 There really the core of where it all begins.

112. 00:06:41.407 We also have our Editorial Team. So

113. 00:06:43.711 we have 3 editors right now they’re responsible for basically

114. 00:06:47.551 coaching the writers on campus and making sure

115. 00:06:49.855 the quality of the content that we’re putting out on the site is super high

116. 00:06:53.439 and so you know

117. 00:06:54.719 after the community team of writers, editors

118. 00:06:57.791 photographers, the editoral team

119. 00:06:59.071 helps them guide them through the process and help

120. 00:07:02.143 train them for future jobs and internships.

121. 00:07:04.703 We also have

122. 00:07:06.495 our video team

123. 00:07:07.519 so we have kind of a split video strategy right now. We have a couple
people who are focused on like HQ videos

124. 00:07:14.431 just the stuff that we produce in-house. It’s basically a lot of testing different
formats, testing different ideas

125. 00:07:19.295 and being able to have a controlled

126. 00:07:21.343 Video Production Studio here that we can learn a lot and then be able to help
students be successful in their creating videos.

127. 00:07:27.743 They also have on the Production Manager who’s responsible for overseeing
our

128. 00:07:31.839 video programs. So for right now in about 40

129. 00:07:34.143 video contributors at

130. 00:07:35.167 different universities

131. 00:07:36.191 and he makes sure that

132. 00:07:37.727 similar to the editors of the community managers everyone has all the
information there is successful as possible

133. 00:07:43.359 and if they feel super empowered to

134. 00:07:45.151 make amazing work.

135. 00:07:46.175 Then we have our marketing

136. 00:07:48.479 social media team that’s like slowly growing.

137. 00:07:52.575 We have Rachel who is our Social Media Editor who

138. 00:07:55.391 was actually an editor-in-chief on one of our campus is it at University of
Illinois so we like to let’s keep people in the family.

139. 00:08:03.839 But we have social media on many channels all the ways that we

140. 00:08:05.631 take the content that all of our members are creating and get out there in the
world how people appreciate their work.

141. 00:08:11.263 So that’s everything from social media to email

142. 00:08:13.823 to different partners that we work with

143. 00:08:17.407 both content and social side.

144. 00:08:18.943 And then we have our sales team,

145. 00:08:21.503 what is brand new,

146. 00:08:22.271 this is how we’re going to be

147. 00:08:24.319 intergrating brands

148. 00:08:25.343 into this

149. 00:08:26.111 whole conversation.

150. 00:08:27.135 So a lot of

151. 00:08:27.903 companies specifically food companies, but a lot of companies in general

152. 00:08:31.487 are having a hard time reaching

153. 00:08:33.535 this audience and because

154. 00:08:35.327 we have this amazing network of students and this amazing community

155. 00:08:38.143 we’re able to integrate these brands authentically into that conversation. So
we have a sales team now who is

156. 00:08:43.519 working on finding the best brands we want to work with the
kind of represent our values that our students would be like to be excited about and trying
to find that connection to build

157. 00:08:51.455 value for both our community and also the brands themselves.

158. 00:08:58.111 One challenge that I

159. 00:09:00.415 that I face is

160. 00:09:02.207 in

161. 00:09:03.487 delegating

162. 00:09:04.767 responsibility. I think that

163. 00:09:06.559 when you’re starting a company

164. 00:09:08.351 from the very beginning, it’s you doing

165. 00:09:10.911 all of the things that wearing all the hats

166. 00:09:15.775 and being

167. 00:09:16.799 like

168. 00:09:17.567 working in a growing company an entirely different skill set

169. 00:09:20.383 it entails not doing any not doing that hands-on work but

170. 00:09:25.247 empowering other people to do that work and finding people who can and

171. 00:09:28.575 and making sure that they feel capable of doing all the things that they need
to do and that they have no roadblocks.

172. 00:09:33.951 Which is a really great skill but it’s

173. 00:09:35.743 very different skill than doing everything yourself.

174. 00:09:38.303 And I think that transition is really it is a funny transition for a lot of startup
founders to make

175. 00:09:43.679 and one that I’ve definitely struggled with for a little bit.

176. 00:09:46.495 One of the things that I think is really exciting is

177. 00:09:48.799 when I was in Journalism School

178. 00:09:51.103 in college and I was told often

179. 00:09:53.663 about the end of media and how media business models just don’t
work and

180. 00:09:59.039 someone needs to figure out this problem and I think that we’re in an industry
that

181. 00:10:03.135 is going to need to figure out if it is it’s going to be decided it’s own
idenity and future so it’s really exciting time to be in this industry.

182. 00:10:11.839 The other thing is I think that we have a really

183. 00:10:14.911 innovative way of approaching this problem

184. 00:10:17.471 because there are a lot of contributor networks like

185. 00:10:20.031 Huffington Post

186. 00:10:21.823 and other media companies that take advantage of contributor
networks but ours is so different because it’s really turning

187. 00:10:28.223 that hole

188. 00:10:29.247 process onto it’s head.

189. 00:10:30.783 So instead of us having a contributor network

190. 00:10:33.343 full of people that

191. 00:10:34.623 feels a little bit like it’s taking advantage of all this free labor

192. 00:10:37.695 we’re an educational platform to help these students

193. 00:10:40.255 develop their skills that gives them a platform to be seen on a larger scale
than they ever could have been seen otherwise.

194. 00:10:46.143 It’s all about

195. 00:10:48.191 personal development as opposed to

196. 00:10:50.495 content production

197. 00:10:51.519 and I think that’s a really important distinction that makes

198. 00:10:54.591 are system at it’s core fundamentally different than a lot of companies that
look like us.

199. 00:11:00.223 And that priority in structure

200. 00:11:03.039 affects everything that you do here

201. 00:11:05.343 and that affect the choices that we make with how we interact with the
students

202. 00:11:09.695 and how we pitch story ideas and how we help them set goals

203. 00:11:14.047 and how we like

204. 00:11:16.607 incentivize them and try to reward their success

205. 00:11:20.447 so I think that’s a core part of what we do that I think is awesome.

206. 00:11:28.895 So here are the strategic vision for the next year is being able the next
couple months actually to test out a couple different thing to be a

207. 00:11:35.295 able to have

208. 00:11:36.063 at least a few theories on how we should move forward.

209. 00:11:38.623 So we know that we want to continue to expand to more campus and
we’ve really gotten that process down.

210. 00:11:43.999 So campus expansion is a big priority over the next year.

211. 00:11:47.839 A few things that we are testing and we do want to expand is our video
program so right now it’s kind of a closed program

212. 00:11:54.239 40 students that flucuates from semester to sememster but

213. 00:11:58.847 as people are starting to see video become way more prevalent in media

214. 00:12:02.687 there’s a lot of interest in creating the stuff too so we want to be able to
provide the tools to students to be able to create video if they never have

215. 00:12:09.087 and have it be seen by millions of people. So trying to figure out
exactly how we’re going to expand and scale our video program is a big priority.

216. 00:12:16.511 We’re also really interested in testing out

217. 00:12:19.583 what’s Spoon could look like in cities after college.

218. 00:12:22.655 So we have a lot of students are graduating from our chapters who still want
to be connected they still want to participate in Spoon somehow

219. 00:12:28.799 so this summer we’re going to be testing

220. 00:12:31.103 what could this community look like you when you’re working full-time

221. 00:12:34.431 in a new city trying to explore in a similar way but kind of different life stage.

222. 00:12:39.807 We will also be experimenting more with the sales side of things. So

223. 00:12:44.671 really trying to figure out how we can drive the most value to brand’s, how we
can really be creative

224. 00:12:50.047 and provide products that no other media companies offers

225. 00:12:53.887 and then also to constantly checking with her students and saying

226. 00:12:57.215 trying to figure out did you like his campaign? how do you feel about
this brand now? that what kind of impact or actually making with

227. 00:13:03.103 companies that we’re working with

228. 00:13:04.639 and how can we better that experience for all of our members all of our
audience and also the brands we want to work with, too.

Company Background Packet

Proprietary & Confidential 2

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Proprietary & Confidential 3

COMPANY PROFILE ……………………………………………………… 4

Leadership Team …………………………………………………………………..4
Company Overview ………………………………………………………………..5
Fast Facts …………………………………………………………………………….5
History and Development ………………………………………………………..5
Industry ………………………………………………………………………………..7
Competitive Environment ………………………………………………………..7
Product ………………………………………………………………………………..8
Sales and Marketing ………………………………………………………………9
Business Activities …………………………………………………………………9

Proprietary & Confidential 4

Company Profile

Company Name: Spoon University

Location: New York, NY

Founded: 2013

Website: www.spoonuniversity.com

Holding Type: Acquired by Scripps Media in 2017

Company Size: NA

Estimated Valuation: NA
Industry: Lifestyle, TV

Leadership Team

Mackenzie Barth
CEO, Co-founder

Sarah Adler
CTO, Co-founder

In her role as CEO, Mackenzie Barth works
the front end of Spoon, utilizing her
combined background in communication,
marketing, and psychology from
Northwestern University as well as her
experience in public relations and audience
research.

Sarah Adler takes the lead on technology
from the Spoon site to the training and
analytics tools used for internal operations
and connecting with Spoon’s vast contributor
network. She gained experience in design
and worked to integrate journalism and
technology while attending Northwestern.

http://www.spoonuniversity.com/

Proprietary & Confidential 5

Company Overview
Spoon University manages a foodie digital media blog network made for millennials by
millennials. Co-founded at Northwestern University as a student club producing a local foodie
magazine, it has grown into chapters at 450+ college campuses, all led by students. The
students contribute articles with support and training from Spoon University headquarters,
which has grown to a staff of around two dozen, including editors, video production specialists,
community managers, and tech developers.

Spoon University is on a mission to make food make sense.

Spoon’s mission to simplify food for young adults resulted in a cult-like fan following. Spoon
has transcended the digital experience with events and dining/cooking activities on campus.

Spoon University relies heavily on social media to get articles shared virally and to grow
readership and develop an editorial leadership training program called “Secret Sauce” to
manage their 5,000+ contributors, optimize the content produced, and build loyalty from the
inside. With a highly engaged, loyal, large, and growing readership base, the company has
strong potential for monetization through sponsored content to promote food brands to
millennials.

Fast Facts
• Graduated from TechStars’ 2015 four-month-long accelerator program with $3 million in

first-round seed funding and a network of mentors

• Operates out of a New York City headquarters with a core staff of 24 across five
departments: Community, Editorial, Marketing and Social Media, Video, and Sales

• Publishes 75+ articles a day across all chapters

• Onboards all contributors with a program intended to refine skills and facilitate career
development

History and Development
Spoon University cofounders Mackenzie Barth (not a foodie) and Sarah Adler (total foodie)
started the company as undergraduates at Northwestern University in Evanston, Illinois in
2012. After moving to an off-campus apartment, Barth and Adler were faced with meeting their
own food needs, day in and day out, for the first time in their lives. While there were already
many food media outlets, none targeted college students—who are uniquely lacking in time,
experience, and resources.

Proprietary & Confidential 6

“Spoon University…is the everyday food resource for our generation, on a mission to make
food make sense. On our site, you can find the simplest recipes, the most obvious hack
you can’t believe you didn’t know, and the best restaurants around campus that you
haven’t found yet.” Sarah Adler, CTO & Co-founder, Spoon University

Knowing that they couldn’t be the only students struggling with this issue, Barth and Adler
started a campus-wide publication that gave their peers a place to come together to explore
food in a community and learn from each other. In the fall of 2012, they recruited a team of
about one hundred fellow students who took on roles as writers, photographers,
videographers, editors, and marketing specialists to produce and promote the magazine
around Northwestern. Soon, Barth and Adler were receiving requests from students at other
colleges to help them establish a Spoon chapter at their school. By their senior year in spring
of 2013, Spoon University had successfully launched at three other universities in the U.S.

Exhibit 1: American University’s Chapter Website
Source: SpoonUniversity.com

The Spoon University cofounders spent the summer after graduating from college testing their
business model, building an online platform, and generating interest at other schools. By that
fall, Spoon University had established headquarters in New York City, officially launched their
site, and continued establishing chapters nationwide.

As Spoon University wrapped up their first year, the community had grown to thirty chapters
around the globe. In January 2015, they announced their acceptance into Tech Stars New

Proprietary & Confidential 7

York, one of the top accelerator programs for startups in the country. By the end of the four-
month-long program, Spoon University had developed a network of mentors, validated the
company’s concept, and begun their seed funding, which would amount to nearly $3 million by
the end of the round.

Industry
Since the opening of Whole Foods a generation ago—taking organic, fair trade, and
sustainable produce mainstream—a growing awareness and appreciation of food has
revolutionized the industry. Food is increasingly being seen not just as a source of nutrition,
but also as a way to improve health and impact the world. Fresh, locally grown food is now a
multibillion-dollar industry.

Although it might seem like Spoon University is a publication company, its revenue is
generated through leveraging a reader’s data and selling it. The increasing digitalization of our
world has and continues to fundamentally change the consumer landscape. This created a
struggle for companies to connect to millennials and generation Xers in a way that they find
meaningful and effective. Big Data is one of the newer industry segments, experiencing
incredible growth for the value it could provide for companies facing these issues—companies
that want to develop a better understanding of today’s consumers.

Competitive Environment
With the intersection of increasing food obsession nationwide and the rise of personal blogs
and user-generated content, Spoon University is up against a variety of media sources
barraging consumers with food articles, blog posts, how-to videos, and photos on every social
media platform. While more traditional food media outlets, such as the Food Network,
Epicurious, and AllRecipes, have their place as industry models, millennial-centric platforms
like Buzzfeed, Food52, and InsiderFood are targeting on-the-go students and young
professionals alongside Spoon.

Food Network
Food Network is a “lifestyle network, website, and magazine that connects viewers to the
power and joy of food.”1 Since launching as a cable TV network in 1993, Food Network has
become one of the food and lifestyle industries’ biggest names. While the television channel
still lands in the top twenty most watched networks in the U.S.2, their magazine and online blog
have helped the company take hold as an industry model for popular and trusted food brands.3
Food Network maintains their success by distributing through more traditional media channels.
The network is available in over 100 million households in the United States and in more than
150 countries globally.4 Their website averages nearly 10 million unique monthly visitors, while
Food Network Magazine has 1.4 million annual subscribers.5

1 About FoodNetwork.com. 2016. www.foodnetwork.com
2 Michael Schneider. Most Watched Television Networks: Ranking 2015’s Winners and Losers. December 28, 2015. tvinsider.com
3 Business Wire. Food Network Burns the Competition in the Race for Food Fan Loyalty. May 19, 2016. www.businesswire.com
4 About FoodNetwork.com. 2016. www.foodnetwork.com
5 About FoodNetwork.com. 2016. www.foodnetwork.com

http://www.foodnetwork.com/site/about-foodnetwork-com.html

http://www.tvinsider.com/article/62572/most-watched-tv-networks-2015/

http://www.businesswire.com/news/home/20160519005867/en/Food-Network-burns-competition-race-food-fan

http://www.foodnetwork.com/site/about-foodnetwork-com.html

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Since 2011, overall millennial TV viewership has dropped 38%, demonstrating that this
demographic has largely turned off the television to stream through alternative outlets and
spend their time elsewhere.6 Against these odds, however, Food Network has remained one of
the few networks to increase their millennial audience in the last five years. While the number
of millennials watching the Food Network remains relatively small, the growth trend
demonstrates that the company is providing content this young generation increasingly
demands.

Buzzfeed
Targeting a similar demographic to Spoon, Buzzfeed produces editorials and recipes through
Buzzfeed Food, as well as how-to videos through Tasty. In February 2016, Buzzfeed—as well
as its two food media subsidiaries—all ranked in the top ten media companies of the month.
Tasty, Buzzfeed’s user-generated blog that most closely competes with Spoon, ranked number
two on the list, only behind National Geographic. In terms of the number of fans and followers,
Tasty had over twenty million more followers than the next highest fan base on the list, which
happened to be Buzzfeed itself. Furthermore, the engagement for Buzzfeed Food, which
ranked fifth on the list, had increased by 50% since the previous month. While this jump is
likely due to greater usage of videos across social media platforms, particularly Facebook,
these high engagement numbers with Tasty and Buzzfeed Food demonstrate the growing
engagement with food media.

Product
Spoon University
Spoon University is an online community of crowdsourced food tips, blog posts, healthy
recipes, local menus, and how-to’s. With a presence in over 250 chapters across U.S. college
campuses, each chapter is a unique organization that caters to a specific campus, but all of
them work closely with the New York City headquarters. Spoon University contributors go
through an onboarding process and receive training on how to write headlines, use Facebook
to promote their content, and manage analytics tools to see how well their contributions are
performing. Typically, chapters are headed by two or three student managers. These volunteer
chapter executives generally take on the roles of Editorial Director, Community Manager, and
Social Media Manager, mirroring the makeup of Spoon’s HQ organization. Several Spoon
chapters also have a videographer that produces original video content.

In addition to onboarding, the New York HQ team starts their mornings with a content
brainstorming session. They assist chapter contributors by providing leadership guidance,
organizational structure and change management, training, and ideation for new articles and
editorial review before publishing. The HQ editorial managers oversee the chapter contributors’
content creation process through several stages of editorial review and feedback before
ultimately publishing. This structure is designed to support Spoon’s high-volume, rapid
turnaround process to publish 75+ articles per day across all chapters.

Spoon City

6 Traditional TV Viewing: What a Difference 5 Years Makes. July 5, 2016. www.marketingcharts.com

The State of Traditional TV: Updated With Q2 2017 Data

Proprietary & Confidential 9

Even after graduating and settling into a full-time job, Spoon’s college chapter alumni want to
continue sharing their passion for food and engaging with others with the same interest.
Realizing that desire, Spoon created Spoon City for college graduates and young people.
Similar to Spoon University, Spoon City is a community of food lovers in cities across the globe
who come together to eat, cook, photograph, Instagram, and explore.

Sales and Marketing
The Internet has dramatically impacted the journalism industry by increasing publishers’
competition for both readership and advertisers. For example, the print-centric cost structure of
many newspapers is apparently obsolete, as new online-only publications built for internet
economics are capitalizing on these asymmetries. This further emphasizes the importance of
marketing for companies like Spoon.

While many peer companies may be providing compelling content around food, Spoon
attempts to set itself apart by utilizing its vast contributor network of 5,000+ loyal, highly
engaged college students. Spoon’s model of “For millennials, by millennials” allows them to
better connect to their consumer base since their product is created by people of similar
demographics and interests.

Another reason for Spoon’s success is that contributors see it as an educational platform to
develop their skills in preparation for the job market. While a passion for food may have
brought students to their site, the chance to refine their skills, network, and gain exposure as
writers, editors, photographers, videographers, and marketers is what encouraged them to
work as productive contributors. Additionally, students are incentivized to start chapters where
there aren’t any, because many value entrepreneurial and professional development aspects
that go into establishing a Spoon chapter.

Business Activities
In 2017, Scripps—owner of Food Network cable channel—acquired Spoon University. While
the specific terms of the deal were not disclosed, the plan was for the Spoon team to continue
their daily activities, existing as a separate division and reporting to the head of Scripps
Lifestyle Studios. This acquisition is seen as a strategic repositioning of Scripps, as it strives to
reach younger audiences and strengthen their online presence.

“Spoon University captures the grassroots passion for food and community that is so important
to millennials today,” Kathleen Finch, chief programming, content, and brand officer at Scripps
Networks Interactive said. “Food Network has become a significant force n digital and social
food storytelling over the course of the last year, and this acquisition will provide us with the
opportunity to build content, community, and brand as we seek to accelerate our strategy in
the sector.”7

7 Food Network Owner Acquires Millennial Food Hub Spoon University. May 4, 2017. www.thedailymeal.com

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