Angie Bastian, co-founder of Angie's BOOMCHICKAPOP, describes in an archival interview clip the personal collateral required to secure early bank loans for the popcorn company.
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“Which was our home. Future earnings. Everything but the minivan.”
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More from Angie Bastian
AssertionNot checkable as stated
BOOMCHICKAPOP became the top-selling SKU in four months as first non-GMO popcorn
“And it was that first non-GMO branded popcorn on the market, and it became our number one selling skew in four months. The yellow bag.”
Angie Bastian: Entrepreneurs do not own their time; the business owns it
“We have the misunderstanding that when you have your own business, you, you're the, you know, you own your time. That the opposite is true. The business owns your time.”
Angie Bastian: The best time to raise capital is when you don't need it
“Even though we don't need it now, it made complete sense to us, and now we were in a position where we didn't need it, and that's the time to go ask for it.”
The dominance of male-named popcorn brands inspired the company name Angie's
“So we went to the grocery store, and we looked online, and what we saw at the time was in the grocery store, it was Orville, it was Vicks, it was Cracker Jack, Poppycock, Dale and Thomas, Harry and David, and I just turned to Dan, and I said, where are the pop…”
Private equity firm Sherbrooke Capital formalized BOOMCHICKAPOP's board and equity pool
“And they helped us set up a an employee equity pool. They helped us set up a board. They helped us set up a professional sales team and build a marketing team.”
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