Milk substitutes are a $1 trillion category and Perfect Day is angling to be the leader in the market. Iger’s ascension to a director position at the company just affirms that Perfect Day is a big business in the big business of making milk replacements.
Unlike almond milk or soy milk companies, Perfect Day is angling to be a direct replacement for bovine dairy using a protein cultivated from mushrooms.
The move comes as Perfect Day ramps up its development of consumer products on its own and through investments in startups like the Urgent Company. That’s the consumer food company Perfect Day backed to commercialize technologies and create more sustainable food brands.
For Iger, the Perfect Day board represents the first new board seat the longtime entertainment powerbroker has taken since he left Apple.
“Innovation and leadership are both key to world changing ideas,” said Iger, in a statement. “Perfect Day has established both innovation in its use of technology and novel approach to fighting climate change, and clear leadership in building a category with a multi-year head start in the industry they’re helping to build. I’m thrilled to join at this pivotal moment and support the company’s swift growth into new categories and markets.”
Iger joins Perfect Day’s co-founders Ryan Pandya and Perumal Gandhi, and representatives from the company’s international backers and lead investors, Aftab Mathur, from Temasek Holdings, and Patrick Zhang, of Horizons Ventures.
Until yesterday, Perfect Day was the most well-capitalized protein fermentation company focused on dairy in the world. That’s when Impossible Foods, the alternative meat manufacturer which has raised $1.5 billion from investors, unveiled that it, too, was working on a dairy product.
Perfect Day, by contrast, has raised $360 million in total funding to-date.
“We’re thrilled to have Bob Iger join our team, and are confident his tenured operational expertise and visionary leadership style will further help us scale our ambitions,” said Ryan Pandya, the chief executive and co-founder of Perfect Day, in a statement. “We’re focused on rapid commercialization in the U.S. and globally. But we know we can’t do it alone. That’s why we’re excited and humbled to have a proven leader like Bob to help us thoughtfully transform our purpose-driven aspirations into tangible and sustainable impact.”
Gowalla is coming back.
The startup, which longtime TechCrunch readers will likely recall, was an ambitious consumer social app that excited Silicon Valley investors but ultimately floundered in its quest to take on Foursquare before an eventual $3 million acquihire in 2011 brought the company’s talent to Facebook.
The story certainly seemed destined to end there, but founder Josh Williams tells TechCrunch that he has decided to revive the Gowalla name and build on its ultimate vision by leaning on augmented reality tech.
“I really don’t think [Gowalla’s vision] has been fully realized at all, which is why I still want to scratch this itch,” Williams tells TechCrunch. “It was frankly really difficult to see it shut down.”
After a stint at Facebook, another venture-backed startup and a few other gigs, Williams has reacquired the Gowalla name, and is resurrecting the company with the guidance of co-founder Patrick Piemonte, a former Apple interface designer who previously founded an AR startup called Mirage. The new company was incubated inside Form Capital, a small design-centric VC fund operated by Williams and Bobby Goodlatte .
Founders Patrick Piemonte (left) and Josh Williams (right). Image credit: Josh Williams.
Williams hopes that AR can bring the Gowalla brand new life.
Despite significant investment from Facebook, Apple and Google, augmented reality is still seen as a bit of a gamble with many proponents estimating mass adoption to be several years out. Apple’s ARKit developer platform has yielded few wins despite hefty investment and Pokémon Go — the space’s sole consumer smash hit — is growing old.
“The biggest AR experience out there is Pokémon Go, and it’s now over six years old,” Williams says. “It’s moved the space forward a lot but is still very early in terms of what we’re going to see.”
Williams was cryptic when it came to details for what exactly the new augmented reality platform would look like when it launches. He did specify that it will feel more like a gamified social app than a social game, though he also lists the Nintendo franchise Animal Crossing as one of the platform’s foundational inspirations.
A glimpse of the branding for the new Gowalla. Image credit: Josh Williams
“It’s not a game with bosses or missions or levels, but rather something that you can experience,” Williams says. “How do you blend augmented reality and location? How do you see the world through somebody else’s eyes?”
A location-based social platform will likely rely on users actually going places, and the pandemic has largely dictated the app’s launch timing. Today, Gowalla is launching a waitlist, Williams says the app itself will launch in beta “in a number of cities” sometime in the first-half of next year. The team is also trying something unique with a smaller paid beta group called the “Street Team,” which will give users paying a flat $49 fee early access to Gowalla as well as “VIP membership,” membership to a private Discord group and some branded swag. A dedicated Street Team app will also launch in December.