The Ledger
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Berkowitz: Six-year Insomnia Cookies co-founder lawsuit settled in January 2024
“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”
Campus newspaper feature surged Insomnia Cookies orders from five to 80 nightly
“And the phone started ringing. I mean, it started ringing at a different pace, let's say, and from three to five orders to 80 orders that night.”
Berkowitz: Insomnia Cookies funded 120 store openings entirely from company profits
“And we then opened a 120 stores exactly like that directly from the profit of the business.”
Berkowitz: Retail sales have equaled delivery at Insomnia Cookies for a decade
“Retail and delivery, right around that point, retail reach about 50%, and it's kind of been like that for 10 years now.”
Berkowitz: Insomnia Cookies resisted DoorDash and Uber Eats until COVID-19
“I didn't really open up to the DoorDash and Ubers of the world in earnest until the middle of COVID when we had to rethink the entire business model.”
Berkowitz: Insomnia Cookies Met With ~60 Potential Buyers Before Krispy Kreme Deal
“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.”
Berkowitz: Expanding delivery radius to five miles sparked Insomnia's fastest growth
“But we extended out to five miles from three miles, and all of a sudden we were back to normal. And growing, and adding stores and since then, it's been the fastest growth we've ever had.”
Berkowitz: Insomnia Cookies launched with around $100 in initial investment
“I think I spent a hundred dollars on, like, everything. Like, the first mixer, it was like 30 dollars, and like, the first ingredients. It was effectively no investment.”
Berkowitz: Insomnia Cookies did 500 weekly orders and $20K monthly in 2004
“At that point, we're probably doing 500 orders a week, 20 grand at most.”