Grilled Cheese Sandwich Gets $10 Million in Venture Funding
A prominent startup founder dramatically unveiled a grilled cheese sandwich at the Wall Street Journal-affiliated "D" conference today and announced that a leading venture firm put upwards of $10 million into the cheese and bread combination. No, really.
Jonathan Kaplan, who invented the popular Flip digital video camera, took his startup "The Melt" out of stealth mode while on stage today at this year's D gathering in Rancho Palos Verdes, California. His big news? Sequoia Capital, which in the past has backed Apple, Google and Oracle, has decided to fund the opening of 20 stores, where the sandwich will be sold, at a cost of $500,000 to $1 million per location. The grilled cheese is blessed by chef and restaurateur Michael Mina and will sell for around $5 each, or $8 in a combo.
But wait! This grilled cheese isn't just a sandwich; it's a technology platform. "We created a set of applications and mobile technology to allow you to order your Melt anywhere," Kaplan told a (probably!) rapt audience. Through the magic of this advanced iPhone technology, people will be able to enter a restaurant and emerge minutes later with a hot sandwich. Can you imagine? The future is almost here! And remember: Despite what anyone tells you, we're not in a tech bubble!