Fast-growing Yuppiechef sticking with organic growth

Yuppiechef, one of SA's prominent online stores, says it is "growing rapidly", but has no immediate plans to accept outside investment into the thriving business for now.

Paul Galatis, a director at Yuppiechef, says the company - which sells kitchen accessories, specialty foods and ingredients among other things - is growing at a 100% year-on-year.

Speaking on the sidelines of eCommerce 2013 Conference in Johannesburg, Galatis says the company is largely self-funded and notes that it received funds from New York-based venture capital fund Tiger Global in 2011. He declined to reveal how much the company was paid.

Now, Galatis says, Yuppiechef seeks to attain "organic growth" and planned to focus on long-term growth. He played down any prospect of listing on a stock exchange or raising further outside capital.

Cape Town-based Yuppiechef, founded by two friends Andrew Smith and Shane Dryden, has built its range from seven to around 8,000 different products since its inception in 2006. It has a huge warehouse located in the city and carries mostly third-party products.

The company has managed to achieve scalability and keep track of inventory and has avoided debilitating disruptions that plague Internet ventures, Galatis told about 400 delegates at the e-commerce conference on Wednesday (11 September).