Krispy Kreme

“We started a process trying to find buyers. We hired an investment bank and we spoke to dozens and dozens of people. I met Krispy Kreme in February of 2018. Then I met sixty-ish people.”

“I mean, it started right around the Krispy Kreme announcement, and it settled in January of this year. It was almost a six-year litigation, which is pretty wild”

“By the way, shortly after we did this interview, Krispy Kreme did announce that they sold a majority of their shares to two private equity groups. Krispy Kreme is still a shareholder in Insomnia, and Seth will remain its CEO.”

“And for us, what's economically savvy about it is, It's free earned brand and media as opposed to needing your sales channels to drive a revenue that brings enough money to like the EBITDA line that you can invest in it from a marketing standpoint.”