Bloomberg Television7 min
The Entrepreneurs Behind Poppi Start Over
Stephen Ellsworth, David Gura, Lisa Mateo
Interview
- In the previous year, founders Allison and Stephen Ellsworth sold their prebiotic soda brand, Poppy, to PepsiCo for nearly $2 billion.
- The couple has immediately launched a new beverage company, Jetty, to enter the general hydration market.
- Poppy's journey began with a decade of bootstrapping, during which the founders maximized credit cards, sold their car to purchase inventory, and performed deliveries with a baby strapped to them.
- While the couple cites "Shark Tank" as a pivotal life-changing moment, they identify the first Super Bowl commercial as the specific catalyst that quadrupled the business overnight and increased year-over-year growth significantly.
- Poppy launched on March 3, 2020, the first week of the COVID-19 pandemic, capitalizing on a forced shift to digital consumption and the public's desire for human connection.
- The brand utilized an early "digital-first" strategy on TikTok; one founder-led video where Allison shared her story personally accumulated over 250 million views.
- Allison Ellsworth notes that the brand evolved from a founder-led social media presence to a "founder-led brand" in the early stages, leveraging authenticity to break through market noise.
- A primary lesson from the Poppy acquisition is the necessity of overinvesting in people early, specifically by delegating responsibilities and surrounding the team with diverse, challenging advisors rather than trying to handle all operations solo.
- Jetty was founded after the founders identified a gap in the market for "approachable everyday hydration," noting that existing products are designed only for extreme sports conditions.
- Jetty's core product features a low sodium content of 100 milligrams, contrasting with the high-intensity electrolyte mixes common in the category.
- Jetty is unique in the hydration sector for simultaneously launching both drinkable liquids and powders.
- Unlike Poppy, Jetty is entirely self-funded, though the founders now leverage established access to retailers, distributors, and a pre-vetted team.
- The founders have adopted a new hiring philosophy focused on "driver" talent—specifically "player-coaches" who can strategize and execute—rather than saving costs by hiring less experienced staff.
- Allison Ellsworth emphasizes a willingness to admit she "doesn't know everything" as a second-time founder, prioritizing the recruitment of A-plus talent who are "better and smarter" than herself.