48-year-old started with $75,000 in savings and multiple maxed-out credit cards—and built a $1.1 billion company
Publishing timestamp: 2024-02-06 12:53:32
Summary
Vita Coco, a coconut water company, started with a small investment and credit card debt. The co-founders discovered the popularity of coconut water in Brazil and decided to bring it to the US. They faced challenges such as regulatory issues and competition from another brand. The co-founders used credit cards to fund the business and avoid taking on debt. Eventually, they took on outside investors and now control half of the US coconut water market. They plan to expand globally.
Sentiment: POSITIVE
Tickers: COCO,
Keywords: vita coco company inc,
Source: https://www.cnbc.com/2024/02/06/vita-coco-from-maxed-out-credit-cards-to-billion-dollar-company.html