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Mark Ramadan

17 statements across 2 episodes · 1 bullish · 3 bearish · 3 people on the record · first statement Oct 23, 2023 by Guy Raz · across every show →

On the record as a speaker too: Mark Ramadan's record, appearances and statements → this page counts the times other people say the name.

Everything said about Mark Ramadan, oldest first

Oct 23, 2023
Assertion Supported
Guy Raz: Heinz Sold $10.5 Billion of Ketchup in 2010
“Anyway, in 2010, the year Mark Ramadan and Scott Norton decided to start a ketchup brand, Heinz sold 10 and a half billion dollars of the stuff.”
Guy Raz Oct 23, 2023 ▶ 2:57 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023 neutral
Assertion Not checkable as stated
Mark Ramadan: Industrial Ketchup Is Made From Rehydrated Paste
“The way ketchup is made industrially is pretty difficult to replicate at home, because it's essentially a rehydrated paste.”
Mark Ramadan Oct 23, 2023 ▶ 17:43 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Assertion Not checkable as stated
Sir Kensington's originally split equity equally at 25% across four founders
“When we first incorporated the business, none of us were full-time. I believe it was 2009, and so I say it was easy in the sense that there were four of us, so it was You know, 25% all around.”
Mark Ramadan Oct 23, 2023 ▶ 39:20 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023 neutral
Assertion Not checkable as stated
Advisors almost universally told Ramadan to oust co-founder Scott Norton
“The advice I mostly got was, number one, this happens to every co-founder set. [4357] Mark Ramadan: It always happens. [4358] Mark Ramadan: Co-founders have falling outs or fights. [4360] Mark Ramadan: And then number two, the only solution is to remove Scott …”
Mark Ramadan Oct 23, 2023 ▶ 1:12:30 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Assertion Not checkable as stated
Ramadan: Sir Kensington's CEO and CMO simultaneously stepped away for months
“So on Wednesday, the company has both a CEO and a CMO, and by Monday, we're both gone for months.”
Mark Ramadan Oct 23, 2023 ▶ 1:15:41 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023 neutral
Disclosure
Ramadan: Sir Kensington's initial checks came from founders' parents
“And I think the very first check into the business was my parents, and then Scott's parents, and a few other people who were very close to, and that allowed us to order this minimum run”
Mark Ramadan Oct 23, 2023 ▶ 35:02 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Assertion Not checkable as stated
Ramadan: Sir Kensington's 2016 revenue was around $20 million
“I think it was probably about 20 million-ish.”
Mark Ramadan Oct 23, 2023 ▶ 1:20:55 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Assertion Not checkable as stated
Norton: Sir Kensington's conducted employee terminations at an off-site restaurant
“We had this restaurant that was two blocks from our office that we would fire people at. So we wouldn't fire people in the office. We'd fire people at this restaurant.”
Scott Norton Oct 23, 2023 ▶ 1:13:43 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023 negative
Insight
Ramadan: Product formula alone does not determine food market dominance
“I think when we read this as food people, it didn't make sense to us that the only thing that matters to market dominance is the formula of a product. Of course it's not. That takes zero account of how people think about brand, how people discover brands, how …”
Mark Ramadan Oct 23, 2023 ▶ 11:28 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Assertion Not checkable as stated
Raz: Sir Kensington's sold over 2.5M jars by 2015
“And by 2015, the two founders had sold over two and a half million jars of product.”
Guy Raz Oct 23, 2023 ▶ 4:22 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Disclosure
Norton: Sir Kensington's rejected founder-led naming to build an immersive world
“We were totally sure we were not going to call it Scott and Mark's ketchup. Like, to us, that was totally boring. We wanted to come up with something that was so radically interesting and different, and was a world that people could inhabit.”
Scott Norton Oct 23, 2023 ▶ 14:18 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023 positive
Disclosure
Ramadan refused to fire co-founder Norton, opting for temporary step-away
“I ended up, I wouldn't say fighting with the board, but informing the board that that wasn't the path I was going to take, but that we would go down a slightly different path, which is that I would ask Scott to step away from the business for a little bit. [44…”
Mark Ramadan Oct 23, 2023 ▶ 1:13:15 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023
Disclosure
Norton: Sir Kensington's set seed valuation at $2.5 million
“We were going to raise at one million a valuation, and then I met with someone who said you should raise at ten million, and I said ten million seems crazy, and so Mark and I agreed on two and a half.”
Scott Norton Oct 23, 2023 ▶ 38:43 Sir Kensington's: Scott Norton and Mark Ramadan
Oct 23, 2023 neutral
Assertion Not checkable as stated
Scott Norton Forged a Skadden Arps Legal Letter for Campus PR
“We used fake letterhead for the law firm Skadden Arps, and we wrote a letter to the Brown Daily Herald, the campus newspaper, accusing them of stealing Sir Kensington's recipe as a way to get the newspaper's attention”
Scott Norton Oct 23, 2023 ▶ 28:46 Sir Kensington's: Scott Norton and Mark Ramadan
Jun 27, 2024 negative
Insight
Ramadan: Restaurant Debt and Outside Equity Distract Founders from Operations
“I work with a lot of restaurants, and those that are loaded up with debt can't focus on operations, and those loaded up with equity investors also are distracted from finding opportunities with their operations.”
Mark Ramadan Jun 27, 2024 ▶ 28:43 Advice Line with Mark Ramadan of Sir Kensington's
Jun 27, 2024 negative
Disclosure
Ramadan: I pretended everything was fine to investors when building Sir Kensington's
“I felt like I was constantly putting on some sort of suit of armor every day, like pretending things were great, pretending that everything was going well, including with investors, even when they could have helped.”
Mark Ramadan Jun 27, 2024 ▶ 48:51 Advice Line with Mark Ramadan of Sir Kensington's
Jun 27, 2024 neutral
Insight
Ramadan: Consumer inertia and habit are the real competitors in condiment markets
“If anything, we saw inertia as the competitor. People are on, you know, they're not impulse buying different catch-ups every week, and so the real competitor was Habit. And so we thought about how do we break a habit rather than how do we switch people away fr…”
Mark Ramadan Jun 27, 2024 ▶ 32:58 Advice Line with Mark Ramadan of Sir Kensington's
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