Panna Cooking App Gets Traction, Funding
But that didn’t stop David Ellner from launching Panna, a “digital cooking magazine” on the platform last year.
Now Ellner, a former music executive, has convinced investors that he’s on to something: He has raised a $1.35 million round, led by Anthem Ventures. Other investors include Lerer Ventures, Crosslink Ventures, Howard Schultz’s Maveron and Shari Redstone’s Advancit Capital.
Panna’s pitch is simple: A pure-play cooking publication, combining high-gloss photos and high-end videos, featuring lots of famous chefs, like Rick Bayless and Jonathan Waxman. New apps come out every couple months, and cost $5 apiece; a year’s subscription costs $15.
So far, Ellner has produced four issues, and won’t release sales or download numbers. But apparently they are good enough to round up an A round. Earlier this year, he added an iPhone version to compliment his original iPad launch; an Android edition is in the works.