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I think the biggest patterns were CEOs that were truly passionate about their people. Because misinformation and lack of standardization was sometimes misleading to customers, eight national animal protection groups formed the Coalition for Consumer Information on Cosmetics (CCIC). I want them to hold me and the company accountable. Stuart Landesberg has been working as a Founder & Chief Executive Officer at Grove Collaborative for 11 years. Other key executives at Grove Collaborative Holdings Inc include We offer a really curated selection of 1,000 SKUs, some of which are from national brands like Seventh Generation, Mrs. Meyers Method, some of which are from brands that we owned and developed in-house. WebStuart Landesberg, Co-Founder and Chief Executive Officer, Grove Collaborative, Inc. P R E S E N T A T I O N . According to Inc. Magazine, the 2018 revenue represented a three-year Running in an undercapitalized startup where you only sort of have product/market fit, in my experience, was extraordinarily stressful. So, how much is Sylven Landesberg worth at the age of 33 years old? Transparency that I can be honest about, whats happening in our business, what are my goals, the company and companys long-term vision? Mr. Clark co-founded Grove in 2012 and has served as its Chief Technology Officer since 2013. Alejandro: Were you there when the actual Chapter 11 and all of that happened? In those early days, I wish I had just Im really grateful we did focus as much on the consumer as we did, but we also wasted a lot of time in cycles on things that werent ultimately value-creating in the long run but were only there to sort of swage short-term founders of a small business insecurities. in Economics and Spanish from Amherst College where he graduated magna cum laude with distinction. Founders Roth Martin, a former art gallery owner, and Stephen Hawthornthwaite (aka Hawthy), a former investment banker, launched the footwear brand after listening to their wives complain about the lack of stylish, comfortable shoes. : 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? Nor was seeing I remember the managing director who sat right in front of me. You wont find ammonia because it can irritate eyes, skin, and asthma. We have seven locations across the U.S., and we ship to hundreds of thousands of customers a month. Stuart Landesberg - Co-Founder & CEO - CrunchBase I think of our board meetings as a time to talk about my favorite topic in the world with a bunch of super-smart people that I really like. So, continued focus on the long-term is so valuable to allow us as a company to also focus on the long-term. Virgin Group Acquisition Corp II (VGII.U)'s detailed insider trading history can be found in Insider Trading Tracker table. Then the third thing that I took away was a comfort with intellectual honesty is an unusual but highly valuable skill. Read More 10 Companies Similar to RobinhoodContinue, Bose is a firmly established American company that specializes in the manufacture of sound system equipment. I love our team, and I have come to believe that people are the primary asset of every organization and the most important thing. So if we reposition, we think theres a higher maximum rate, a different global maximum that we can shoot for. When we relaunched the company, it was extremely nerve-wracking, but we had built at that point a culture of constant improvement, which I think is still really with the company today that allowed us to see this as just one more natural step in our own evolution as a business. Prior to joining Grove, in 2016 Mr. Cervantes served as the Chief Financial Officer of Unilever Prestige. Deciding to be an artist shouldnt have to be a difficult conversation, says Conte. Regardless of where people exist in their beliefs, he believes that the goal for the world must be more than just making money. He believes that Grove wins over Amazon by being trustworthy for its consumers. Landesberg believes that Grove makes it possible for people to avoid single use consumption in their homes. Alejandro: Yeah. Consumers are now demanding that companies provide products which consider impact on the world. It was close a lot of times. Our board is excited and embraces that approach. Alejandro: Got it. We got one term sheet, and I had to beg for it. Every company has bad months and bad quarters and our partners, and I think most really great partners are able to focus on the long-term instead of prosecuting short-term growths because as a company, especially a small fast-growing company, the resources are so limited. I have the pleasure of knowing him personally, so a really great guy and probably one of the best investors out there today. 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. Following the purchase, the chief executive officer now directly : Wow. : And then it becomes toxic. It should feel like a viable career choice. Using Patreon, artists offer exclusive experiences in return for contributions from their subscribers or patrons. HBOs Issa Rae, Humans of New York founder Brandon Stanton and comedian Heather McDonald are some of the creators currently using Patreon and by 2019, the company expects to pay out more than $1 billion to its users. That allows us to understand where theres really good alignment and where theres less good alignment. He says that the reason it has been successful is due to the people who work there. Grove considers itself to be a digitally native brand and works as a direct-to-consumer platform for natural products. The board should never be surprised by me. If you like the show, make sure that you hit that subscribe button. The first one, MHS, and Nestle in particular, those two firms really stepped up and supported the company then as well. I was watching Sunday night football. 10. , Alejandro: Just out of curiosity, what was that time where you were like touching the cliff? Stuart Landesberg: The first four years, candidly, were kind of a scary experience. I think thats a little bit of whats behind the A-players hire A-players saying. 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. That Series A Round wasnt at the highest price, and obviously, it wasnt a super-clear story at that point that we were going to be really successful. It was scary, but it felt really natural because I didnt know at the time that this was the one change that was going to allow us to get traction and go. During the past 18 months, 0 shares of Virgin Group Acquisition Corp II (VGII.U) were sold and 0 shares were bought by its insiders, resulting in a net Instead of charging per user, Lehi, Utah-based Divvy gives businesses custom Mastercards and takes a cut of merchants fees to the bank when people make purchases. I'm Ken Martin. He was previously an investor at TPG Growth, where he was involved in over $400 million in consumer and technology investments. It was really personal. Today, Front has 5,000 customers including Shopify, MailChimp and Stripe. The opportunity cost of our time was real, and it wasnt taking off the way startups are supposed to when you read about them. These include Portland, ME; San Francisco, CA; St. Peters, MO; Elizabethtown, PA; Reno, NV; and Los Angeles, CA. I love the potential that our category already has for a positive change. Stuart Landesberg, CEO of Grove Collaborative, If you like the show, make sure that you hit that subscribe button. The first is transparency, and its got to go both ways. But the byproduct of that is, as an employee you end up meeting a ton of brilliant executives and. This site uses Akismet to reduce spam. You might contact Stuart Landesberg via mailing address: C/o Grove Collaborative Inc., 1301 Sansome Street, San Francisco Ca 94111. Stuart Landesberg owns 3,172,651 shares of Grove Collaborative Holdings Inc (GROV) as of March 20, 2023, with a value of $2 Million. Grove has raised more than $200 million of investment capital, to date. How was that experience for you? He believes that one reason that product sellers choose to partner with Grove is that the company can tell their product stories very well. That was cool. Then do it again, and over time wed look at the aggregation of those results, and its been a very solid run. . Its really important that there are no surprises. See Stuart Landesberg's compensation, career history, education, & memberships. WebIt is now valued at over one billion dollars and is leading the category in sustainable venture by being first to pledge a 100% plastic free service and platform by 2025. Also, remember, if you need any help whether it is with your fundraising efforts or with selling your business, you can reach me at, Robert Sadow And Jonathan Sadow On Raising $100 Million To Reinvent How You Commute To Work, He Sold His Last Company For $130 Million And Now Raised Millions To Help Others Build Wealth, Satyen Kothari On Selling His Last Company For $130 Million And Now Raising Millions To Help Others Build Wealth, He Built An $8 Billion Venture Capital Firm To Invest In Startups That Are Fixing Our Broken World, Drew Oetting On Building An $8 Billion Venture Capital Firm To Invest In Startups That Are Fixing Our Broken World, This Entrepreneur Raised $124 Million To Power The Next Generation Of The Web. Theres no subscription fee for the consumer experience. : I dont know if anybody is listening from a tactical perspective. Alejandro: Got it. No one should. So how much money have you guys raised so far? WebHis net worth has been growing significantly in 2022-2023. Alejandro: How do you define success, Stuart? Theres one question that I always ask the guests that participate on the show, and that is knowing what you know now, and youve seen a lot, and I know that this is impossible, but if you could go back to the past and give your younger self one piece of advice, what would that be and why before launching a business? But Im aligned with your point. That will give you a rough sense for how big we are. An example of data being processed may be a unique identifier stored in a cookie. Mr. Stuart Landesberg is a Co-Founder and serves as Chief Executive Officer, Board member & President at Grove Collaborative. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Stuart Landesberg, Grove Collaborative Holdings: Profile Stock Ideas All-In-One Screener S&P 500 Map S&P 500 Bubble S&P 500 Aggregate Buffett-Munger Screener Industry Overview Undervalued Predictable Benjamin Graham Net-Net 52-week/3Y/5Y Lows 52-week/3Y/5Y Highs Magic Formula(Greenblatt) Dividend Stocks Peter Lynch Screen S&P500 Grid Predictable Companies Spin Off List So I knew Jordan just a little bit in high school, and then he moved out to San Francisco, and we reconnected when he got out here. Running in an undercapitalized startup where you only sort of have product/market fit, in my experience, was extraordinarily stressful. Proceeds from the sales of Seedling products are used to plant trees in the United States. You think of them as a big machine and greater than any one person. I love the potential that our category already has for a positive change. We had a really great 2017. But youve really been on the tough side of the equation, and now, obviously, its a different story, but Im sure that youve learned a lot. Please subscribe to unlock this content. Obviously, once you put it out there, and you start seeing the reaction, then youre able to breathe. 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. Stuart Landesberg: So I wouldnt necessarily believe everything you read. I think weve reached local maximum, but theres still a lot of opportunity in this category. Ive experienced investors who have a little bit of an entitlement, and they think the company does the work, and the investor sees some of the returns. They must be non-toxic, provide ingredient transparency, be made of plant-based formulas, be 100% cruelty-free, use ethical supply chains, and be of sustainable materials. : Got it. He says it is part of the DNA of Grove as a company. Landesberg believes that Grove has been able to compete against Amazon because, in practice, more than 50% of the product Grove sells today is not available on Amazon. Landesberg believes that our society needs to pay close attention to the legitimacy of our supply chains. They sit on a lot of boards. I know they funded me $40,000 in the bank. I can start with the very first financing, which was me putting my own money in, and a couple of people who I worked with putting in small amounts of money. He also serves as Advisor & Board Member at Knox Lane. If theres a person who wants to get to know our company better, there isnt a board member of a major investor that I cant get on the phone, see them today to talk to that person. We had a really great 2017. With products from major brands Hello everyone and welcome to the. It was a really quick education about the extent to which all business really is truly personal. I will talk about people a lot. And its totally okay for there not to be perfect alignment. I called Paul, and I was like, Paul, theres a price at which this deal gets done. In just three years, it expanded rapidly with direct-to-consumer sales online, reaching revenue of $140 million last year. Over the past 18 months, Stuart Landesberg: So, even though it wasnt taking off the way that we had all hoped, we were making progress. That transition has the opportunity to materially change, not just the channel but the products people buy and the footprint of the channel on the planet in a way that is materially possible. United States household paper consumption is responsible for felling approximately 94,000 trees daily. I viewed it as just part of constant chipping away. The New York Giants were playing. 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. We had a couple of other potentials on the insiders that wouldnt have let the company go out of business. Thats normal. The categories that we operate in are natural home and personal care things like dish soap, laundry detergent, bath tissue, oral care, shampoo, and stuff like that. I think its something thats really designed to be a service to the consumer so that our community can build and maintain healthy habits around the products they bring into their homes. He serves on the National Resource Defense Council's SF Council and is a frequent startup advisor and investor. Stuart Landesberg: 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. The number of his fans has been increasing rapidly over the last few days. Over time, we evolved it to a point where we said, Okay. Stuart Landesberg has long been passionate about sustainability. In total, Stuart Landesberg has made about 9 transactions over a year of their time at Grove Collaborative Holdings, Inc. Ms. Perry has served as Groves Chief Marketing Officer since 2021. 5. Grove offers innovative products, such as bath and facial tissue, tree-free paper towels, napkins, and toilet paper made from 100% bamboo. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Stuart Landesberg is a well-known figure in the world of media. Prior to co-founding Grove, he worked for TPG Capital, where he was involved in consumer and internet investments. : Just out of curiosity, what was that time where you were like touching the cliff? : The second piece is that it wasnt the money in the Series A that led to the business transformation. So, Stuart, let me ask you this. Concentrated products use less plastic packaging overall. So the number one consumer preference wasnt matched by assortment. We got that round done, and then it took us 19 months and a bunch of bridge rounds between there and the time when we had when I had twice as much money on my personal credit card as we had in the company bank account before we raised our Series A. It says a lot about you guys. Ms. Perry received a M.B.A. from the University of Pennsylvania, Wharton School of Business and a B.A. Robinhood is a free brokerage firm and desktop platform that offers commission-free stock, ETF, and crypto trades. WebMr. How Clarence Thomas Friend Harlan Crow Got So Rich The key? Im thrilled to be here. Augusto Marietti, 31, and Marco Palladino, 30, launched the company out of a garage in Milan, where they both attended university, and were constantly flying back and forth to Silicon Valley to fundraise. I think of it as we all are working together, and we have various roles to play. I think my own style as an executive, as a startup founder is definitely influenced by the folks who I most looked up to as a young professional at TPG. Chris, actually, had a small sock business that was sold; argyle socks called Oberon Socks. Stuart Landesberg's largest purchase order was 60,000 units , worth over 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. : Yeah. Stuart Landesberg: Sure. A lot of really terrific and brilliant people there. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Its really important that there are no surprises. You cant do without open source if you want rapid adoption, says Bengal. The New York Giants were playing. Only the transactions in Open Market or Private Sale at the market prices are included. I saw how much time was wasted with people sorting through their emails, she says. Why are you at the office in the middle of the night packing up your stuff? He said, You didnt hear? How did the idea of Grove come together? Stuart Landesberg: I define success for the company and success for myself slightly different. Ask Grove Collaborative CEO Stuart Landesberg, 34, who his typical customer is, and hell give you a specific answer: A 29-year-old mother of two working as a substitute teacher in Lawrence, Kansas. Even in the age of Amazon, Grove has carved out a $104 million niche in e-commerce by selling natural products, from laundry detergent to sponges, in easy-to-order shipments. So without further ado, Stuart Landesberg, welcome to the show today. If anyone listening ever has an opportunity to work with Josh Mehlman or anyone from the Serious Change family I cant speak highly enough about the folks at Serious Change, Nestle Ventures, and MHS Group, and Pennington Capital Ventures Group, the four largest participants in our seed round. I feel so fortunate to have such a great group of capital partners whove been with the company through a pretty transformative period. 4. Stock quotes provided by InterActive Data. What does a solid board look like? 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. I feel like we are 1% of the way. Its a straightforward idea, but Australian-expat founders Denis Mars, 42, and Simon Ratner, 39, are confident that theyve just scratched the surface of its potential. Stuart Landesberg: When we started the business, none of us had ever built a consumer internet company before. Grove Collaborative is just a few years old but generated $104 million in revenue in 2018. purchase But I dont think I understood at the time that there were really important milestones, and the story of what happens in-between those is much less important. WebFamily & Personal Life. Really, its great. Stuart Landesberg - Biography - MarketScreener.com Lattice founders Jack Altman, 30, and Eric Koslow, 28, learned first-hand the impact of work culture while working at startup Teespring, which sells custom t-shirts. 2. Did that feel great? He was like, The day after we signed the deal was the first day that I believed the company would be around for the long-term.. Looking at the numbers for December, I was like, Oh my gosh, we are going to go out of business.. Landesberg As those strategies started to work, we were able to attract better talent, and as we brought on more and more strong talent, theres a really wonderful virtuous cycle where strong talent breeds strong performance which breeds more strong talent. Landesberg compared Groves one-ounce glass cleaner to the average 24-ounce store brand. 10. No one should. That is how supply chains are run even now without a solution like FourKites. A lot of really terrific and brilliant people there. US Navys $255 Billion Budget Request Prioritizes Submarines and Hypersonic Capabilities Over Amphibs Employees are looking for more meaning from work than ever before, and have more visibility into and access to other jobs than ever before, Altman says. I am far from the primary source of leadership at this time. Alejandro: Got it. Stuart Landesberg: Sure. The company has been in business since 1964. We got that round done, and then it took us 19 months and a bunch of bridge rounds between there and the time when we had when I had twice as much money on my personal credit card as we had in the company bank account before we raised our Series A. He says that many companies across the supply chain are not careful about their supply sources. Stuart Landesberg There were multiple times I wasnt sure we were going to get the money we needed to keep going. We end up spending resources in part where our stakeholders, including our stockholders, want us to focus. : Got it. Our investors, to a person, are available to us to hop on the phone, help me close candidates. Its no problem to skip a month. So I think its a really good transparent and ongoing dialog, and I think of our board as our partners, not as anything else. 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. Stuart Landesberg is the President & CEO, 10% Owner of : Yeah. Then during one of the commercials, it said, Crisis at Lehman. I saw a friend of mine walking out of the building with a box. Sylven Landesberg Social Network : The biggest two takeaways were not to take anything for granted. The stock was acquired at an average price of $0.34 per share, with a total value of $20,400.00. : Thats a great question. He believes that it takes everyone to work together on the current environmental crisis. This is a BETA experience. Number two, penetration through e-commerce is still vanishing. He is an Investor at This is Water. Contact Information Website www.grove.co Formerly Known As ePantry Ownership Status , Alejandro: Alrighty. Or having all of your users on Twitter complaining.. But it wasnt like there was a moment where Okay. Landesberg has over 34 years of experience and has had the privilege of treating many of our local athletes as well as college athletes and professional athletes from the NBA, NFL and boxing. stock. At least it was for us, and so I would remind myself that we could not put too much energy into that customer interaction. Shaw, believes RigUp can improve on the good ol boy network by more efficiently connecting the hyperfragmented market of roughnecks, engineers and business owners with the big oil companies that call the shots. In 2019, the Grove community saved a million pounds of plastic just by changing from conventional products to products in concentrated formats. We had signed a term sheet in December, and I had gone on a trip and gotten engaged and had been a little bit out of the business for a few weeks. Enlarge. Hes like, Dude, you dont want to have this conversation. Actually, I did. : Yeah. Israeli tech veterans Ofer Bengal and Yiftach Shoolman set up a fast-database service, in 2011, to help businesses looking to speed up responses on their apps. That was awesome. $14.67K on November 16, 2022. 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. We never gave up on listening to the consumer, make a little more progress, listen to the consumer, continue to evolve the experience. : Got it. I was talking to a friend of mine who sold his business recently for a substantial sum, and I was like, Oh, man. As a college student at Loyola Marymount University, Jason Wilk, now 34, blew through his budget, collecting overdraft fees. I know that intellectually now that the business is stable and theres a tomorrow. The first was that consumer presence wasnt and still isnt super-well represented on shelf. Grove, which has been a B Corp since its founding, serves hundreds of thousands of households in the U.S. The difference between getting reliable alerts within seconds and getting them in minutes is the difference of seamlessly dealing with an issue, says Rau. : 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? Theyre really busy, and I think our board meetings are fun because we genuinely love what were doing and were not ashamed to make our board meetings something we super look forward to. This is so embarrassing, but Ill just say it. While larger containers appear to have more product, they are mostly water. So, Stuart, let me ask you this. : Ill just say its in the hundreds of millions. Then raised our Series C from Norwest at the end of that year. Description. Manage Settings From what youre saying, Stuart, it seems that once you were able to really secure the Series A its like you got the money to really kick things into high gear and things became a little bit easier. What was the big takeaway for you from this experience? : Yeah. Then during one of the commercials, it said, Crisis at Lehman. I saw a friend of mine walking out of the building with a box. Required fields are marked *. In summary, during the past 3 months, insiders sold 150,000 shares of Grove Collaborative Holdings Inc (GROV) in total and bought 409,609 shares, with a net He founded Grove, which has been a Certified B Corp since its founding, after learning that offline distribution meant that just a small percentage of families were choosing healthy, sustainable home care products. Right? : My pleasure. Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership, Virgin Group Acquisition Corp II (VGII.U), director & 10 percent owner & President & CEO. Its a common refrain, and Ive certainly said it myself that if only we had all this money, it would be so easy. : I dont believe everything I read. 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 Continue with Recommended Cookies, Your email address will not be published. I am far from the primary source of leadership at this time. and B Corps drive a global movement of people who seek to use business as a force for good. So in 2013, she launched the San Francisco-based startup to help companies become more productive with a shared email inbox that incorporates Facebook, Twitter and SMS, and encourages team collaboration. Stuart Landesberg: TPG is a wonderful firm. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. . Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Seventy-five or so took muse with us. I define success for the company our company vision statement is that consumer products will be a positive force for human and environmental health, not just less bad, but actually more good for human and environmental health.

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