The Ledger
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Processed David bars test cleaner for microplastics than agricultural RXBARs
“RX bars were like really bad on, on plasticizers. So microplastics and RX bars predominantly an agricultural product. It's dates, almonds, eggs. David scores like is super clean. It doesn't have any plasticizers, heavy metals, and that's because of its process…”
RXBAR generates $200M in revenue but wasn't an extraordinary acquisition
“I think probably like 200, but profitable right now for, and especially in Mars portfolio, like they need stuff to get to a billion in revenue. And I think that its position is hard to innovate. You can't go down on price because you're using a whole real food…”
RXBAR was approaching its growth ceiling before selling to Kellogg
“I also like knew we were close to our ceiling.”
RXBAR abandoned early fundraising to focus entirely on product creation
“We just totally stopped doing investor work and went straight to just actually designing and making the product.”
RXBAR's minimalist packaging design capped product innovation and total market size
“The product portfolio that we could do was defined by quantifiable whole food ingredients. So our design, that famous design of our X-Bar, really was a constraint on where we could innovate. Because you had to formulate stuff that could be communicated on the …”
RXBAR reached $161 million in annual revenue at its acquisition
“We did a hundred sixty one million in sales.”
Raising early venture capital would have caused RXBAR to make stupid mistakes
“If we would have raised money and had grow like a balance sheet, I think we would have done stupid shit for sure.”
Early investors offered profitable RXBAR only 1x to 2x revenue valuations
“Whenever we tried, they wanted two times revenue, one times revenue, and we were profitable, you know, from inception more or less.”
RXBAR grew revenue by 300% annually for four consecutive years
“Like we were 300% year a year for like five years, four years.”
RXBar raised only $10,000 before selling to Kellogg's for $600M
“RX Bar, a snack bar, raised 10,000 dollars to sell for six hundred million dollars to Kellogg's.”