The Ledger
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Dang Foods lost up to $2 million launching a failed onion chip
“We had just gotten venture funded, and so for about four million dollars, and about one and a half to two of the million dollars went to the onion chips.”
Dang Foods' container costs surged from $5,000 to $22,000 in one month
“So with the container prices going up from five K to 22 K in one month, you can't increase your price on shelf by 400%.”
Dang Foods halted inventory orders in 2022 to pay off creditors
“What we decided to do is, with the board's permission, we stopped ordering inventory. Because we didn't see a path forward and that the supply chain at that time was not being alleviated. So we decided that we were going to sell off our assets and have this ti…”
Dang Foods' average port times spiked from 50 to 100 days
“The average time in port also spiked during that time from 50 days to a hundred days, or seven weeks to 14 weeks.”
Vincent Kitirattragarn initially gave co-founder Andrew Kitirattragarn a 20 percent equity stake
“I'll give you. 20%. And you're gonna earn over three years. And then later that got modified even higher later, as I, I've been with the company longer and whatnot.”
Dang Foods launched onion chips with 20 percent margins, anticipating scale
“I think when we first launched, I think we were looking at something like 20% margins and we're like, listen, we can do this because if this is going to get as big as Funyuns, like when we sell up to ten million and we get to scale to the next level, those mar…”
Snack and energy bar category sales dropped 50 percent during COVID-19
“I think the data was about 50% drop in bar category sales pre and post-COVID.”
Dang Foods' corporate tech pantry sales dropped 90 percent during the pandemic
“Because of stay at home, they, those sales dropped about 90% pre and post-COVID, and even now they're not fully back.”
Dang Foods burned $400,000 per month at the start of the pandemic
“Our burn rate was like 400,000 dollars per month in the beginning, and we had to get to positive.”
Dang experienced seven-week ocean freight delays due to supply chain disruptions
“We haven't exhaled, because right after that, we had these supply chain issues, whereby our ocean freight containers have been delayed about seven weeks on average.”
Dang Foods' early success was mostly luck, but maturity demanded execution
“I'd say, seventy-thirty luck to effort in the early years, and more recently, it's been seventy-thirty effort to luck.”
Andrew Kitirattragarn used therapy to resolve co-founder conflict with his brother
“I think for my specific situation with Vincent, like, it was important for me to get a therapist because what would happen was that a lot of tension would come up with my brother, like, I remember getting really, really angry at him, When he wasn't being defen…”