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June 2023 FirstLook Brands
Highlights from our June box, Founder Pro Tips, and more...
FirstLook
November 12, 2023
Welcome to our 116 new subscribers since the last newsletter. I'll try my best to keep this fun, light, and informative. Glad you're here.
Salve! (“Hi” in Latin)
Welcome back to another consistently inconsistent newsletter. So much has happened since the last one so let’s jump in.
Congrats to Flings and MARGIN who landed checks totalling $535K from FirstLook Investors! Flings from an angel, and MARGIN from an NBA superstar. More on both of these brands from the June Box brands section below.
The FirstLook Merch Shop is officially live! Grab your swag. It would support FirstLook, and more importantly my wife Michele and I as we are saving up to buy our first home and start a family.
I’m still on the hunt for a Marketing Cofounder. Ideally a strong, charismatic, and scrappy person in a major city who loves consumer and wants to be a titan in VC. On top of all the fun we’ll have, there’s also a mouthwatering amount of money to be made with what I have planned for the future.
I started another company! I seem to have an obsession with getting products into the right hands. Please meet Distrobox, a box full of beverage, snack, and beer brands sent to DSD distributors. Brands and Distributors can sign up here.
I’m proud to share I’ve joined Cloud3PL as an advisor. They’re a first-of-its-kind logistics platform allowing brands to use Amazon’s shipping network as their 3PL solution. I think Cloud3PL is the future of this industry. Give me a shout if you need an intro - [email protected]
And finally, let’s have a peek at our scoreboard to wrap things up:
Founder Pro Tip of the Month 💡
Founders, please be cognizant of your valuation when raising. This has by far been the biggest sticking point over the past 18 months on why investors pass. Too high of valuations creates several problems:
The size of your exit must be big for investors to get an ROI which becomes a tougher sell.
Your round takes longer or worse, never gets done, which means less time building or having to close up shop.
Expectations for growth intensify, which can lead to strain and poor decisions that sink the company.
Achieving f*ck-you money is nice. But you know what’s nicer? Achieving a reasonable amount of f*ck-you money and having a business and legacy to point back to and say “Yeah, I built that.”
At the end of the day, you still have f*ck you money. Is your life really that different if you have $100M versus $300M in your bank? NO!
With too high of a vals, you set yourself on a single path to success. More practical valuations, instead, help you move faster, create optionality, and increase odds of success. Above all, you can STILL build a massive business.
Did a friend forward you this email and now you want to join?
June Box Brands 🚀
Investors: 41 → Apply Here | Brands: 7 → Apply Here | Intros: 44
Investors Interested in brands below, email [email protected] for decks.
Earth Brands
Founded by Misha Medvedev + Peter Frelinghuysen | Site + IG + TikTok | 📍NYC
What made them stand out: On top of championing a sustainable solution, AND Mark Cuban being an investor, AND a robust plan to vertically integrate, what stood out to me is EB’s ability to make sustainable cups COOL. I’ve never seen a brand capture this movement among Gen Z’s so well. Just look at their IG, it’s infectious. The holy grail for brands is capturing “cool in a bottle.” If you watch the recent Juul documentary, they show how this playbook is run. Lucky for us, Misha and Peter are nailing this strategy which explains how they recently closed their $4M Series A.
Flings
Founded by Benjamin Outmezguine + Dino Vassiliou | Site + IG + TikTok | 📍Montreal
What made them stand out: Two things stood out here. First, the founders had previously started and sold a BFY ice cream brand. This brings a wealth of experience which ultimately leads to a quicker moving brand. Second, the toaster pastry category has largely been overlooked. Other than a few brands who focus on more niche consumer groups, Flings is amongst the first to have a brand with mainstream appeal. I can confirm they nailed the recipe, Flings tastes amazing.
Happy Moose Juice
Founded by Ryan Armistead + Henry Armistead | Site + IG + TikTok | 📍SF
What made them stand out: I had been following Ryan for a while and was really impressed with his perseverance. “Pressed juices & wellness shots made from heirloom produce sourced direct from family farms” is a difficult business to build! But Ryan is a special type of founder, and his recent acquisition of a 3rd Gen cold-storage business in the heart of SF is what really set them apart. This unlock will help boost margins, capabilities, and generate additional revenue so they can go the distance. Happy Moose’s journey may take longer than the average brand, but it’s the challenges Ryan continues to overcome that become their moat.
MARGIN
Founded by Drew Stevens | Site + IG + TikTok | 📍Toronto
What made them stand out: This one is simple- Drew is one hell of an operator with the fortitude to go the distance. His strong finance background lends well to maintaining a strong grasp on the numbers so smart decisions can be made. Furthermore, there is an argument to be made for the lack of elevated skincare lines addressing the evolving 21st century man who cares about this part of their life more than ever. Considering the NBA superstar we send boxes to, and his persona, it makes perfect sense why he jumped in to invest.
MYRO
Founded by Greg Laptevsky | Site + IG + TikTok | 📍NYC
What made them stand out: On top of the sustainable model MYRO products leverage, and the impressive cap table which includes Serena Williams, Carmelo Anthony, and other well known athletes and VCs, what I really liked was MYRO’s traction with B2B opportunities. Hotels use A LOT of soap, shampoo, and conditioner every day. Yet very few actually provide sustainable solutions for their guests which leads to a ton of waste and stress on the planet. MYRO has been expanding here to be that solution which creates a win-win for consumers, hotel co’s, and the environment.
SUNiCE
Founded by Wyatt Carder | Site + IG + TikTok | 📍NYC
What made them stand out: SUNiCE stuck out to me for three reasons. First, Wyatt is a very experience founder who started and solid his first company which was a canned wine brand. This gives him deep expertise in the alc world which can be challenging to navigate for newbies. Second, the nostalgia is strong. Remember Capri Suns? Yep, those folks are now over drinking age, and the way SUNiCE was designed is perfect. They are see-through, which creates curiosity, and you can open the pouches to add ice. Love it. Lastly, SUNiCE’s traction with retailers, and more importantly the velocity of sales, was incredible. This brand has many of the hallmarks to go the distance.
The Cumin Club
Founded by Ragoth Bala + Kiru Rajagopal + Harish Visweswaran | Site + IG + TikTok | 📍Chicago
What made them stand out: Another three-fer here on what made this brand unique. First, Cumin Club has a great supply chain in place to source ingredients and produce product directly in India. Authenticity box checked. Second, the Indian-American population is growing at an alarming clip (remember Rupee Beer from the Jan box? Yeah, they’re killing it right now). Lastly, I really like The Cumin Club’s use of quick-serve restaurants to profitably market the brand. They literally just prep and serve their product out of their own smart format spaces primarily in Chicago to consumers who pay for it and (hopefully) become customers for life.
And that's a wrap. The July box is next. Keep on building my friends.