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Smart Lunches(TM), a Successful Business Serving Thousands of Smart Meals for Great Students, Has Been AcquiredShoebuy.com Founder and Former CEO Brings Business Model and Channel Innovations Experience to Proven, Growing Start-Up, Names Yankee Group's Emily Nagle Green as CEO (January 26, 2012)
BOSTON, MA -- (Marketwire) -- 01/26/12 -- Smart Lunches -- formed by two busy moms to provide healthy, fun lunches for school children -- announced today that it has been acquired by Shoebuy.com founder and former CEO Scott Savitz. Savitz's success with Shoebuy helped establish footwear as a viable and leading category for online commerce. Shoebuy was acquired by IAC in 2006.
Savitz's first order of business was to name Emily Nagle Green as CEO of Smart Lunches. Green, honored as a Mass High-Tech All-Star in 2011, is the former CEO of Yankee Group, a storied technology research firm that for over 40 years has guided a global clientele through profound connectivity change. She will bring extensive entrepreneurial experience and business acumen to accelerate Smart Lunches' impressive momentum and growing profitability.
School lunches are estimated to be a $22 billion national market(1), yet one that health authorities and food experts believe is failing many of our nation's children. Thousands of school programs across the country have been cited for serving food of poor quality, low nutritional value and high in sugars and unhealthy fats. These facts, in combination with the frenetic pace of today's society -- making it difficult for parents to prepare nutritionally balanced lunches every morning -- are causing many children to lack the nutrition necessary to stay healthy and be at their best in school. Solving this problem through the online purchase of healthy, appealing and "kid-friendly" lunches is why Smart Lunches was formed.
Through Smart Lunches Meal Services, parents use an easy, secure website (www.smartlunches.net) to order meals for their children that are fresh, fun, nutritional, and delivered directly each day to each child's school. Through Smart Lunches Meal Solutions, schools can outsource their on-site lunch program to Smart Lunches, a decision that reduces expenses and ensures nutritional lunches with higher satisfaction from students and parents alike.
Smart Lunches has quickly become the largest Internet-based meal service of its kind on the East coast; the firm is currently serving 11 schools and day care centers in the Boston area alone, and is beginning expansion into summer sessions and day camps. Schools include The Riverbend School, Good Shepherd School, and Brimmer and May. "We started Smart Lunches with one goal in mind: to create a convenient way for parents and schools to get children nutritionally recommended lunches that they would eat and love," said Susan Frigoletto, co-founder of Smart Lunches. Adds Cathy Goldman, her co-founder: "We are super excited to be answering such a great need. With Scott's involvement as owner and Executive Chairman and Emily leading the team, we're convinced that Smart Lunches will be in the best possible position to handle our rapid growth in improving the daily eating habits of students everywhere."
"I'm delighted to join Smart Lunches as its CEO," said Emily Green. "Smart Lunches has already proven itself a successful, meaningful business, and helping it grow will be an amazing adventure. I look forward to radically expanding the business as we focus on having an impact on children not just in the Boston area, but nationwide. Ultimately we'll aim to bring smarter lunches to companies and their employees too, making lunchtime easier and healthier for millions across the United States. Furthermore, with entrepreneurship and innovation being key contributors to a growing economy, I am happy to say that we are now hiring for a number of positions in Boston to join the fun Smart Lunches team."
Co-founders Frigoletto and Goldman will stay on as advisors of the company. Job inquiries can be sent to [email protected].
About Smart Lunches
Smart Lunches is one of the largest providers of healthy, fun meal services for schools. The company's focus is making life easier for parents while improving the diets of students everywhere. The company gives back a portion of its earnings by returning a percentage to its school partners and contributing to programs for underprivileged children. Smart Lunches is located in Boston, Massachusetts and is a proud member of 12 X 12 (www.twelvebytwelve.org), which brings together leading entrepreneurs, venture capitalists, and business service providers committed to support and accelerate the growth of promising start-up businesses in Massachusetts. The 12 X 12 Organizing Committee includes Desh Deshpande (Chairman, Sycamore Networks and A123 Systems), Paul Sagan (CEO, Akamai), Andy Ory (CEO, Acme Packet), Michael Greeley (General Partner, Flybridge Capital) and other leading business leaders in Massachusetts.
About Emily Green
Prior to joining Smart Lunches, Emily Nagle Green was the Chairman of the Board of Yankee Group, a storied technology research firm that for over 40 years has guided a global clientele through profound connectivity change. From 2005 to 2010 she was the firm's CEO, partnering with investor Alta Communications in its acquisition and leading the transition to exploring the connected future it calls Anywhere.
Previously, she had been the President and CEO of Cambridge Energy Research (CERA), leading its sale in 2004 to IHS. From 1995 to 2003, she served with Forrester Research. Her first contributions there came as the Internet exploded in 1996, when she developed early models for adoption of residential broadband. She later launched and built the company's European operations. At her departure she was the general manager of Forrester's North American division. Earlier in her career, she worked in marketing and engineering roles in startups in special effects, fiber-optic communications, and video training services.
Emily earned a B.S.L. cum laude in linguistics from Georgetown University and an M.S.E. in artificial intelligence and computer graphics from the University of Pennsylvania's Moore School of Engineering. ANYWHERE, her book on the business impact of global connectivity, was published in January 2010 by McGraw-Hill.
She currently serves as a member of the Executive Committee of the Board of the Massachusetts Technology Collaborative, a state economic development agency. She was named a Mass High-Tech All-Star in 2011.
About Scott Savitz
Scott Savitz is the founder and former CEO of Shoebuy.com. Scott is a strong advocate of entrepreneurship and innovation, especially where it aims to raise the bar on the consumer experience. Scott founded Shoebuy in 1999, and served as its CEO for twelve years. Under his guidance, Shoebuy became one of the largest online retailers in the country, with over 1 million products and $3.5 billion in inventory available for sale, serving over 8 million visitors a month and growing on average over 55% a year since launching in January, 2000. Shoebuy was acquired by IAC in 2006 (having tripled revenues between the time of sale and Scott retiring in June, 2011).
Scott currently serves on the boards of Bluestem Brands, SimpleTuition, Two Ten, and MITX, and serves as an Advisor for Olejo Stores and On The Spot Systems, Inc. He also serves on several committees focused on fostering growth and a more robust New England economy including the Massachusetts Technology Collaborative and 12 X 12. Scott received a B.A. in English from the University of Colorado and currently resides in Boston, MA. He is a frequent industry speaker and has received numerous awards and accolades including Ernst & Young's New England Entrepreneur of the Year.
(1) Using data from the U.S. census on national population and school and daycare enrollment, in conjunction with cost data from the U.S.D.A National School Lunch Program
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