Stuart Landesberg Stuart Landesberg Investor Profile: Portfolio & Exits Id been at it for four years with mixed results. 4. The current estimated net worth of Grove Collaborative Holdings, Inc's President & CEO, Stuart Landesberg, is estimated to be about $14.7K . All Rights Reserved. At TPG, I had the opportunity to cover the grocery space and learned that Seventh Generation is actually a relatively small company in the consumer package good landscape, and that non-foods TPG is a category that has two really interesting characteristics for their division. 14. How was that experience for you? Again, both the success and failure of a company are truly a human experience. I think they both embraced it and added immeasurably in their specific dimensions to what we were bringing to market. Gurus may be added or dropped from the GuruFocus site at any time. I think this goes back to one of the early things I learned from computers is that if the truth exists, its always better to name it even if its not right. Grove offers innovative products, such as bath and facial tissue, tree-free paper towels, napkins, and toilet paper made from 100% bamboo. We worked with [29:03] originally there who are both phenomenal partners; still close partners of ours today. Stuart Landesberg: Yeah. The board should never be surprised by me. Next Billion-Dollar Startups 2019 - Forbes Stuart Landesberg: Every board is a little bit different, just like every companys different. I guess leadership is defined differently for everyone in every context, and I dont think theres one definition of a leader. More than 5,000 teams, at companies like Microsoft, Volvo, Uber and Square, are users. Every company has bad months and bad quarters and our partners, and I think most really great partners are able to focus on the long-term instead of prosecuting short-term growths because as a company, especially a small fast-growing company, the resources are so limited. He discovered through research that customers were wildly engaged in natural products. Im thrilled to be here. Mr. Landesberg co-founded Grove Collaborative in 2012 and has served as its Chief Executive Officer Opening up environmental consciousness to new The process gave him much data about what customers wanted. And it wasnt like there was a breakout moment. Our board is excited and embraces that approach. While larger containers appear to have more product, they are mostly water. Mr. Landesberg started his career in the investment banking division of Lehman Brothers. So how was TPG Growth for you? : So I wouldnt necessarily believe everything you read. In those early days, I wish I had just Im really grateful we did focus as much on the consumer as we did, but we also wasted a lot of time in cycles on things that werent ultimately value-creating in the long run but were only there to sort of swage short-term founders of a small business insecurities. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Its stu_land or my email is [emailprotected]. . Those are a few suggestions, and I think as always being clear upfront about board expectations is really important. The Proxy app is like having a set of keys on your smartphone: Your profiles signal gives you access to any building where youre registered, eliminating the need for traditional ID cards and keys. But what was the experience before that happened? In 1988, Forbes estimated he was worth $775 million (nearly $2 billion in todays dollars). Yeah, just having a comfort with intellectual honesty, I think is especially important in a board context. The company was removed from consideration after our investigation, and its CEO resigned in mid-June. Theres one question that I always ask the guests that participate on the show, and that is knowing what you know now, and youve seen a lot, and I know that this is impossible, but if you could go back to the past and give your younger self one piece of advice, what would that be and why before launching a business? So I think that aside from having a culture thats authentic to the company and to the people in the room, the other factors are transparency, preparation, and what I would call a sense of shared mission around seeing the companys vision get realized. and Sculptor Master Fund Ltd in Computer Science from Vanderbilt University. The amount of time that we spent coming up with our splash page when we first bought the domain it was three of us sitting in an accelerator. For our feature on Next Trucking, clickhere. Five years later, Figma started charging professionals to use its product. So talking about boards and especially for the people that are listening, from your experience, what makes a good solid board. How was that experience for you? Grove Collaborative Holdings Inc (GROV) No kidding. I feel so fortunate to have such a great group of capital partners whove been with the company through a pretty transformative period. Stuart Landesberg: The biggest two takeaways were not to take anything for granted. If you can leave a review as well, that would be fantastic, and if you got any value either from this episode or from the show itself, share it with a friend. So the number one consumer preference wasnt matched by assortment. Im thrilled to be here. Stuart Landesberg: Yes. In 2016, Grove started to manufacture its own all-natural products that now make up nearly 50% of its sales. So I knew Jordan just a little bit in high school, and then he moved out to San Francisco, and we reconnected when he got out here. According to Grove, the company purchases credits to fund projects which reduce pollution. Already one of the largest fintech firms targeting immigrants, the Seattle startups long-term goal is to branch out into other financial services, potentially including credit cards, personal loans and auto loans. : The biggest two takeaways were not to take anything for granted. I think thats a little bit of whats behind the A-players hire A-players saying. So many times. Founders Evan Wallace, 29, and Dylan Field, 27, met at Brown UniversityWallace graduated, Field dropped out with a Thiel Fellowshipand launched the San Francisco-based company in 2012. Landesberg forecast this outcome in September 2019. Mr. Clark co-founded Grove in 2012 and has served as its Chief Technology Officer since 2013. , Lattice founders Jack Altman, 30, and Eric Koslow, 28, learned first-hand the impact of work culture while working at startup Teespring, which sells custom t-shirts. He is also an angel investor. Theyre really busy, and I think our board meetings are fun because we genuinely love what were doing and were not ashamed to make our board meetings something we super look forward to. But Im aligned with your point. David Glazer who bought 25,548 units worth So we started guiding to the flywheel, and it felt really good. 18. When we closed our Series A, I had more money on a personal credit card in the business than we had cash in the bank account. At TPG, my role was focused on the private markets, and this would allow me to do it in the public markets. It was scary, but it felt really natural because I didnt know at the time that this was the one change that was going to allow us to get traction and go. Then like 400. According to CNBC, Boot Barn currently has over 250 locations in the US. For our feature on Rothys, clickhere. So many times. of 445,739 shares made by Oz Enhanced Master Fund, Ltd. He also says that the word collaborative is used when a problem is bigger than any one person can solve. He is an Investor at This is Water. Grove customers use a reusable dispenser for their cleaner and that saves them money while reducing plastic waste in the environment. $9.18K . Alejandro: Yeah. This is a profile preview from the PitchBook Platform. Amy Adams, 2014 Golden Globes Estimated worth: $8 million. During the past 18 months, 0 shares of Virgin Group Acquisition Corp II (VGII.U) were sold and 0 shares were bought by its insiders, resulting in a net Enjoy a 7-Day Free Trial Thru May 08, 2023! Im excited about the guest that we have today because he has the experience not only as an operator, as a founder, but then also before, he was on the investment side. We had a really great 2017. And its totally okay for there not to be perfect alignment. After 75 Rejected Pitches, Here's How This CEO Finally Today, Remitly serves 60 countries and processes $6 billion a year in money transfers, about 1% of the nearly $700 billion remittance market. One where you are literally reporting to the board, and its more toxic, and then the other one is like the board is working for you and helping you to really succeed and tackling the strategic issues. I think that it is neither an either/or, and board relationships are complicated. Really, its great. The entire effort helps to reduce the entire communitys carbon footprint. : One of the things that Ive seen here, Stuart, and let me know if you agree or not is that there are two types of boards. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Its been multiple rounds that youve gone through. Stuart Landesberg, Grove Collaborative: Prioritizing the Ill always be embarrassed about that as I recall. I believe that the category is going to go from 3% online to 40% or 50% online in the next two decades. Stuart Landesberg: Exactly. I can start with the very first financing, which was me putting my own money in, and a couple of people who I worked with putting in small amounts of money. To scale up quickly, the Mountain View, California-based company offered a free, open-source version to hook developers. You sort of look back at the end of the month and go, Man! I remember vividly. SEC.gov | HOME there will be demand growth for labor, he says. You cant do without open source if you want rapid adoption, says Bengal. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Stuart Landesberg is a well-known figure in the world of media. At least thats been my really fortunate history. Its ready-made and custom kits allow researchers in academia and the private sector to rapidly develop gene-edited products, including new medical treatments. In Summer 2016, he had a serious talk with his wife about the $200,000 he had invested in the business and $400,000 on a corporate credit card. While competitors collect and query data in batches every two to three minutes, SignalFx evaluates and alerts users to anomalies in two to five seconds. Stuart Landesberg is the director & 10 percent owner & President & CEO of Virgin Group Acquisition Corp II. I'm Ken Martin. At the end of their time, if they liked, he would take their credit card and run it through a card reader to pay for products. Chris and Jordan both are I cannot say enough good things about them as individuals, as partners, and I cannot stress how important or how valuable it is to have great people as partners on this entrepreneur journey. 15. Chris and I went to high school together, so weve known each other since we were about 14 years old, maybe 13, however old you are when youre a freshman in high school. I think the category that we are in as a company is one that has been defined by really brilliant market leaders of 150 years who mastered the art of generating profit in a brick-and-mortar environment. Still, Im proud of it, I suppose. Stuart Landesberg: So, even though it wasnt taking off the way that we had all hoped, we were making progress. The first is transparency, and its got to go both ways.

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