Laura Modi: evaluation

Transcript context

…Yeah. Okay. So let's talk about Bobbie, just broadly. Can you just talk about what is Bobbie and then what is the scale of Bobbie these days? What stats can you share to give people a sense of how large this has gotten? Bobbie is a powdered milk company. We are an infant formula. And prior to infant formula, the formula-gate of 2022, which everyone is now familiar with. The short of it is that this is an industry that is owned by a duopoly. It's one of the last remaining industries in the CPG space that has seen any disruption or change in probably 40 years. And my desire was to create a formula that parents could feel proud of, an infant formula that felt modern and met where science is today. Because frankly, none of the infant formulas on the market really had caught up to where science has evolved to. Now, obviously, I only experienced this as becoming a mother myself. I knew nothing about this at all. And then I pick up a can of formula and I read the back of the can and there's ingredients in there I would never feed myself. And I think the thing that really hit me, and this was more of the business investor side of me, I just hated the product and I couldn't understand why, as something that is used by so many, 83% of parents, why is it that I'm embarrassed about it? I feel guilty feeding my child this and it's also ugly. It's sitting on my counter every day and this isn't what I want to see. I remember saying to my husband, "I feel like we have failed to breastfeed." And the alternative is that I need to give her a medical solution to survive, which it's milk. I should feel like I'm giving her food. But for whatever reason, society has set this up to make formula feel like you have failed. I mean, that was the impetus. I know you asked me, what is Bobbie? We are a better-for-you infant formula without the guilt. Ooh, I like that. That was a good summary at the end. How about about the scale of Bobbie? What kind of numbers can you share? Just to give people a sense of how large this has become.…

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