Gabi Lewis, co-founder of Magic Spoon, discusses the company's early sales velocity and how explosive initial demand reshaped their direct-to-consumer timeline.
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“So our first month, I think we were hoping to maybe do a hundred grand a month in sales towards the end of our first year. We blew past that after a few days.”
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More from Gabi Lewis
Opinion
Lewis: Legacy cereal brands are declining because they ignore modern consumer demands
“So the cereal category is, Is enormous, about eleven billion dollars, and it's been declining slightly, and people would actually say that to us as a reason for why we shouldn't go into that category, and we said to them, hey, why has nobody created a cereal, …”
Gabi LewisFeb 12, 2024▶ 40:02Magic Spoon & Exo: Gabi Lewis and Greg Sewitz
Disclosure
Lewis: Magic Spoon gave influencer investors bonus equity based on attributed sales
“Actually, what we did when we founded Magic Spoon is we created an equity pool for these influencers who are investors in the business, and based on the revenue they drove through their sites or email lists, we divided up this bonus equity pool Amongst them af…”
Gabi LewisFeb 12, 2024▶ 1:00:23Magic Spoon & Exo: Gabi Lewis and Greg Sewitz
Insight
Lewis: Novel foods mainstream when hidden in familiar formats like California rolls
“There's a long history of foods that at one point were viewed as bizarre in the U S you could look at sushi, for example, which 50 years ago, eating raw fish was a little bit strange to most Americans, and the way it became popularized was that a chef in LA cr…”
Gabi LewisFeb 12, 2024▶ 16:55Magic Spoon & Exo: Gabi Lewis and Greg Sewitz
Insight
Lewis: Kickstarter excels at generating press and concept validation over capital
“Yeah, in hindsight, Kickstarter probably wasn't the easiest way to raise money, but it was an amazing way to get attention and get press and prove the concept.”
Gabi LewisFeb 12, 2024▶ 18:54Magic Spoon & Exo: Gabi Lewis and Greg Sewitz
AssertionNot checkable as stated
Lewis: Early investors told Magic Spoon founders to avoid the word 'cereal'
“You know, some investors we spoke to were so anti the idea. They actually said to us, okay, you can do this, but don't use the word cereal. That's a dirty word. You've got to call it clusters or rebrand cereal somehow.”
Gabi LewisFeb 12, 2024▶ 53:34Magic Spoon & Exo: Gabi Lewis and Greg Sewitz
“When you think about it, a cardboard cereal box that doesn't reseal at the top is actually not the most practical packaging to use. A stand-up pouch that you can reseal from a purely practical perspective Perhaps makes more sense, but that doesn't create the s…”
Gabi LewisFeb 12, 2024▶ 57:35Magic Spoon & Exo: Gabi Lewis and Greg Sewitz
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