Stuart Landesberg: So, the Grove was really my idea, and the initial based it upon the experiences that I had had. You were talking about the pivot earlier, and Im always a believer that theres not a single business plan or pitch deck that is going to hit the market and its going to be bulletproof, so in you guys case, you started to receive feedback, and that really contributed to making or to understand that it was the right time or the right decision to change course of action. the President & CEO, 10% Owner of Grove Collaborative Holdings Inc and owns about 3,172,651 shares of Grove Collaborative Holdings Inc (GROV) stock worth over $2 Million. : The idea of Grove was a combination of something Ive always cared deeply about as an individual and industry trends that I saw at TPG. : Got it, and valid points. 10. As a result, Next Trucking has doubled revenue every year since 2016, reaching $46 million in 2018. This is a BETA experience. Hes like, Dude, you dont want to have this conversation. Actually, I did. In any organization that reaches scale, theres leadership all over the place. The entire effort helps to reduce the entire communitys carbon footprint. You mentioned earlier that it took you four years or so to do your Series A, so would it be possible for you to walk us through the fundraising journey? Less than 5% today in most categories in non-food TPG even though youre in-person customer experience with a bottle of glass cleaner is not worth talking about, that category is still some 90-some-odd-percent offline. It was a lesson that I never forgot. I still have the feeling, though, which I think a lot of entrepreneurs do that this could all go away. Perhaps they will also appreciate it. of 0 shares. So the number one consumer preference wasnt matched by assortment. There were a lot of small angel rounds. According to Leaping Bunny, the Leaping Bunny idea began in 1996 when cruelty-free shopping was popular, but confusing. The business opportunities are created by the business, not by the financing. Throughout his time in finance, he focused on global technology and retail investments. Consumers who use the Grove one-ounce cleaner get only cleaner. Before founding Pittsburgh-based Duolingo, he sold two inventions to Google, including reCAPTCHA, the software that spits out the squiggly lines you type to alert a website that you are not a bot. The three-year-old startups founders Umar Afridi, 37, a former retail pharmacist, and Sid Viswanathan, 35, who previously worked at Johnson & Johnson and LinkedIn, see a growing market in bringing technology and efficiency to pharmacy. The number one thing that I wish that I had spent more time on in the early days was we spent a lot of time on evolving the product, but we also spent a lot of time on positioning the progress that we had made. He said that Oftentimes the companies in the space that have raised the least money are the long-term winners because they have to focus on their consumer. There are a lot of examples of this. The work that I was doing was a lot of junior-level stuff: running analyses, bringing in our presentations, working closely with management teams to make sure that we could accurately portray their businesses and understand their businesses as we considered investing. So how much money have you guys raised so far? And that counts, especially for many of the folks on our board. So thats number two. The company has recently decided to take the business public and begin trading on the stock market exchange. But I dont think theres ever a moment, and I still dont feel like theres a moment of like liftoff. The rate of transformation is determined by how much customer insight you can get. Its just like because they feel alright with me. Groves concentrated products, on average, cost 35% less than leading store brands. So I think its a really good transparent and ongoing dialog, and I think of our board as our partners, not as anything else. According to Social Accountability Accreditation Services (SAAS), the Business Social Compliance Initiative (BSCI) is a program of the Foreign Trade Association of Europe. Stuart is related to Perry R Landesberg and Sam Isaac Landesberg as well as 1 additional person. Just enter your email below. Grove Collaborative You may opt-out by, 7 Unicorns, A $2.6 Billion Acquisition And 1 FBI Raid: This Year In Forbes Next Billion-Dollar Startups, These Forbes 30 Under 30 Founders Are Now Running The Next Billion-Dollar Startups, Why Only Two Companies Founded By Women Made The Cut, Cryptocurrency Crimefighter Chainalysis Becomes First Blockchain Company To Make The Cut, The Next Billion-Dollar Startups: Where Are They Now? A couple that I remember in particular, we raised our seed round in January of 2016, I think. Any idea that can be Reddit tested is a good place to start.. Stuart Landesberg was previously an investor at TPG Growth, where he was involved in over $400 million in consumer and technology investments. As a college student at Loyola Marymount University, Jason Wilk, now 34, blew through his budget, collecting overdraft fees. Looking at the numbers for December, I was like, Oh my gosh, we are going to go out of business.. THCP ANNOUNCES PLATFORM INVESTMENT IN But we spent a ton of time in the first few years getting to know our consumers. Where they get like the products that are about really everything that has to do with the home. For the first four years of the companys existence, it was possible to spend much time with customers. I think I really understood that the most from watching the leaders with whom I most identified at TPG. Transparency that I can be honest about, whats happening in our business, what are my goals, the company and companys long-term vision? I think weve reached local maximum, but theres still a lot of opportunity in this category. Before teaming up to found Chainalysis, CEO Michael Gronager, 49, cofounded cryptocurrency exchange Kraken, while CTO Jan Moller, 47, built the Mycelium cryptocurrency wallet. . Hello everyone and welcome to the. : The biggest two takeaways were not to take anything for granted. You think of them as a big machine and greater than any one person. Grove Collaborative Holdings Inc is engaged in providing consumer products. Over 100,000 Grove trees were planted in the U.S. in 2019. But in those first few years, we got a good sense for who our customer is, what he or she really values, and where we can be really differentiated in the market over the long-term. : Paul Martino at Bullpen Capital who I also think the world of and if you folks who are listening have an opportunity to work with Paul or Bullpen another phenomenal group. a net Robinhood is a free brokerage firm and desktop platform that offers commission-free stock, ETF, and crypto trades. Jordan actually went to a rival high school. Its really important that there are no surprises. : Obviously, when youre looking on the investment side, and you take a look at companies that make sense versus companies that dont make sense, what were some of those patterns that you were able to recognize? While larger containers appear to have more product, they are mostly water. The New York Giants were playing. How do you see it? How do you define leadership? So those relationships are complex but again, I think it comes down to transparency and trust and authenticity. Maybe like there was a time where you said, I think were into something., : Yeah. Lehmans going to file Chapter 11 tomorrow. So I went into the office after the Sunday night football game and packed up my stuff, and sure enough, Lehman filed the next day. Alejandro: Got it. 2004-2023 GuruFocus.com, LLC. But doing a pivot is also quite scary. So how much money have you guys raised so far? 40 Under 40 Class of 2020: Stuart Landesberg Stuart Landesberg: When we started the business, none of us had ever built a consumer internet company before. In the last year at Grove Collaborative Holdings, Inc, Stuart Landesberg has sold an estimated value of $1.51M worth. Chris, actually, had a. : Just so that our listeners understand, it is basically a subscription-type of experience. You can find me on Twitter. Im excited about the guest that we have today because he has the experience not only as an operator, as a founder, but then also before, he was on the investment side. He says that many companies across the supply chain are not careful about their supply sources. Grove considers itself to be a digitally native brand and works as a direct-to-consumer platform for natural products. Landesberg said that 70% of households in the United States identify as preferring natural products. Then for this years-end, we ended up pivoting the business slightly. 17. But he wants to do more than sell Seventh Generation or Method soaps online. : Got it. Stuart Landesberg, CEO of Grove Collaborative, Chief Marketing Officer Jennie Perry I think that it is neither an either/or, and board relationships are complicated. in Computer Science from Vanderbilt University. Cofounders Lior Div, Yossi Naar, and Yonatan Striem-Amit met during their service in the Israel Defense Forces elite intelligence unit, Unit 8200, fertile ground for many high-tech startups. We wouldnt be our best if they didnt, on the one hand. And I feel so privileged to come into work every day with such smart people and work on the hard problems that have a chance of changing the category for the better. : I dont know if anybody is listening from a tactical perspective. So the three of our skill sets were quite complementary. Groves offers 30% more product for 40% less cost. What does this mean? We actually changed the name to Grove at that time, and the changes that we made based on the insights of those first four years have been the things that fueled the growth of the company so rapidly over the last two-and-a-half years or so. Its predictive supply-chain management software is now used by more than 260 of the worlds top shippers and upwards of 500,000 loads per day including Best Buy, Kraft Heinz, Nestl and Smithfield Foods. My parents were probably some of the largest early customers of the brand called Seventh Generation, which back when I was a kid, I thought was the biggest company in the whole world. To make Grove Collaborative a 100-year company, CEO and Co-founder, Stuart Landesberg, only looks far enough ahead to see the next milestone. WebMr. Stuart Landesberg: Thats a great question. Three Hills Capital Partners (THCP) is pleased to announce that it has signed an agreement with Gary Landesberg, former Chairman of the renowned Arts Club in London, and his business partners to invest in their holding to finance the launch of a newly-branded, high-end private members club group which will be rolled out globally. Stuart Landesberg On the other hand, we also wouldnt be as successful if our board members werent happy to hop on the phone at a moments notice about any issue. Past performance is a poor indicator of future performance. Musician turned entrepreneur, Jack Conte, 35, wants to break the starving artist archetype by helping creators earn a regular income. Every Grove Collaborative shipment is carbon offset. The cost of purchasing credits costs Grove Collaborative customers no cost. The first round was like $280,000, and I was so proud of it. Above is the net worth, insider trading, and ownership report for Stuart Landesberg. of 354,782 shares made by Sculptor Master Fund, Ltd. Then like 400. But doing a pivot is also quite scary. So without further ado, Stuart Landesberg, welcome to the show today. GuruFocus also compares Stuart Landesberg's trading performance to market benchmark return within the same time period. The first, Im not sure that the stuff in Crunchbase is totally accurate. One where you are literally reporting to the board, and its more toxic, and then the other one is like the board is working for you and helping you to really succeed and tackling the strategic issues. No kidding. When we closed our Series A, I had more money on a personal credit card in the business than we had cash in the bank account. So many times. All rights reserved. We had a really great 2017. I saw how much time was wasted with people sorting through their emails, she says. Grove Collaborative is included among companies which commit to the highest level of corporate social responsibility. The work that I was doing was a lot of junior-level stuff: running analyses, bringing in our presentations, working closely with management teams to make sure that we could accurately portray their businesses and understand their businesses as we considered investing. Buying concentrates and adding water is the way to save money. Grove Collaborative Holdings, Inc. (NYSE:GROV Get Rating) CEO Stuart Landesberg purchased 60,000 shares of the businesss stock in a transaction on Friday, March 17th. He believes that Grove wins over Amazon by being trustworthy for its consumers. How did the idea of Grove come together? : Yeah. I think our personalities also meshed quite well, and there was a good shared vocabulary, and also a real mutual respect for the others areas of expertise. Virgin Group Acquisition Corp II is a blank check company. Stuart Landesberg has long been passionate about sustainability. Grove Collaborative just scored a mega funding round. Right? No kidding. Stuart Landesberg The performance of stocks bought by Stuart Landesberg within 3 months outperforms times out of transactions in total compared to the return of S&P 500 within the same period. Dude, theres got to be a price. Pauls a really great guy. Grove helps these families have easier access to these conscientious products. Around 60% of its revenue comes from products not sold on Amazon, says Landesberg. Alejandro: Was there a time for you when you were actually heading into the office knowing that there was going to be a tomorrow, and that you guys were going to survive? That will give you a rough sense for how big we are. We had a really great 2017. WebFamily & Personal Life. GuruFocus.com : Thats a fair amount of employees, so Im sure that for you, it has been an unbelievable journey as well as learning as a leader. Grove Collaborative has a set of conscientious values. I consider many of the people brought on board as friends, mentors, I learn a lot from them, and I super-enjoy working with them. I feel so fortunate to have such a great group of capital partners whove been with the company through a pretty transformative period. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Stuart Landesberg, Grove Collaborative: Prioritizing the Stuart Landesberg is a Co-Founder and serves as Chief Executive Officer, Board member & President at Grove Collaborative. I have the pleasure of knowing him personally, so a really great guy and probably one of the best investors out there today. Stuart Landesberg - Co-Founder & CEO - CrunchBase But I have a saying that Ive said many, many times through the last six-and-a-half years on this journey, which is, The only way out is through. Even though for those first four years four years is a long time, especially when Chris, Jordan, and I, and a lot of people on the team had given up good-paying, stable jobs to come do this.
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