stuart landesberg net worth

The number one thing that I wish that I had spent more time on in the early days was we spent a lot of time on evolving the product, but we also spent a lot of time on positioning the progress that we had made. So those relationships are complex but again, I think it comes down to transparency and trust and authenticity. According to Inc. Magazine, the 2018 revenue represented a three-year growth rate of 3,665%. Landesberg has over 34 years of experience and has had the privilege of treating many of our local athletes as well as college athletes and professional athletes from the NBA, NFL and boxing. Im thrilled to be here. I think its something thats really designed to be a service to the consumer so that our community can build and maintain healthy habits around the products they bring into their homes. The board should never be surprised by me. According to Grove, the company purchases credits to fund projects which reduce pollution. So make us insiders of that breakout moment. Its been a crazy journey. There are a lot of different companies that have been trying for years to capitalize on the idea of using electric cars as opposed to traditional automobiles. Its just like because they feel alright with me. : Got it. The company was established in 2013 by Baiju Bhatt and Vlad Tenev, Stanford Graduate School of Business classmates. Click through to keep reading In any organization that reaches scale, theres leadership all over the place. 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. Stuart Landesberg usually trades in March, with the busiest year in 2022. Running in an undercapitalized startup where you only sort of have product/market fit, in my experience, was extraordinarily stressful. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. No kidding. 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. So thats the first thing. These people are extraordinarily busy, but if I call up Jack at Norwest whos fantastic or his partner is also involved if I call and ask them to talk to a candidate, theyll make it happen the same day. Landesberg forecast this outcome in September 2019. Landesberg believes that Grove has been able to compete against Amazon because, in practice, more than 50% of the product Grove sells today is not available on Amazon. Alejandro: I dont believe everything I read. I think there was never a day that I worked at Lehman Brothers where the stock was higher than my first day. Stuart Landesberg: Yeah. Grove not only provides a good price point for a valuable product but also explains why that product is good for the buyer. I love our team, and I have come to believe that people are the primary asset of every organization and the most important thing. They sit on a lot of boards. Your email address is 100% safe from spam! Mr. Cervantes joined Grove in 2022 as its Chief Financial Officer. We wouldnt be our best if they didnt, on the one hand. Mr. Landesberg co-founded Grove Collaborative in 2012 and has served as its Chief Executive Officer How was that like for you guys? Here's why the CEO is bullish on California. That Series A Round wasnt at the highest price, and obviously, it wasnt a super-clear story at that point that we were going to be really successful. So in 2016, he founded Dave, short for David, who beat Goliath, which Wilk sees as the big banks. Stuart Landesberg owns 3,172,651 shares of Grove Collaborative Holdings Inc (GROV) as of March 20, 2023, with a value of $2 Million. The work that I was doing was a lot of junior-level stuff: running analyses, bringing in our presentations, working closely with management teams to make sure that we could accurately portray their businesses and understand their businesses as we considered investing. Matt Elenjickal, 37, a logistics geek with an MBA from Northwestern Universitys Kellogg School of Management, founded FourKites in 2014 to help companies know where their deliveries are, when theyll arrive and whats going on along the way. Ken Martin . All work to improve the environment. International groups from around the world also support the Leaping Bunny Program. The business is forming well. Alejandro: I see that the last round that you guys did was the Series E on December of 2018. He posed the thought that if each family used concentrated Grove laundry detergent, approximately 95% of consumer plastic waste could be eliminated. Read More: Robert Sadow And Jonathan Sadow On Raising $100 Million To Reinvent How You Commute To Work. We got one term sheet, and I had to beg for it. I think of our board meetings as a time to talk about my favorite topic in the world with a bunch of super-smart people that I really like. : Got it, and valid points. The first was that consumer presence wasnt and still isnt super-well represented on shelf. and Dude, theres got to be a price. Pauls a really great guy. GuruFocus tracks the stock performance after each of Stuart Landesberg's buying transactions within different timeframes. (Individuals are still free.) Again, both the success and failure of a company are truly a human experience. We definitely lost a few pounds when we were first starting up. Now based in San Francisco, Kong has successfully penetrated the enterprise market with 130 customers that include SoulCycle, Yahoo Japan and WeWork. Theres no subscription fee for the consumer experience. Ask Grove Collaborative CEO Stuart Landesberg, 34, who his typical customer is, and hell give you a specific answer: A 29-year-old mother of two working as a substitute teacher in Lawrence, Kansas. Even in the age of Amazon, Grove has carved out a $104 million niche in e-commerce by selling natural products, from laundry detergent to sponges, in easy-to-order shipments. Groves mission today is to help families by delivering the best of all natural and healthy home and personal care items. In this podcast episode, Stuart sheds light on how he's been able to get so many people who've never tried eco-friendly products And that counts, especially for many of the folks on our board. So when the tragic bankruptcy happened, it was incredible to watch the gears really grind to a halt as people stopped being able to do their jobs, and seeing the extent to which even giant companies like Lehman are really just the combination of collaborative efforts of a lot of great people. Same with Chris. Ms. Perry received a M.B.A. from the University of Pennsylvania, Wharton School of Business and a B.A. The entire effort helps to reduce the entire communitys carbon footprint. As a result, Next Trucking has doubled revenue every year since 2016, reaching $46 million in 2018. From what youre saying, Stuart, it seems that once you were able to really secure the Series A its like you got the money to really kick things into high gear and things became a little bit easier. December is a seasonally bad month for us, but it was a particularly bad season of December that year. That doesnt necessarily come from the company. That was exciting. He had been leading Lehmans for 30 years and famously never sold a share of stock. To scale up quickly, the Mountain View, California-based company offered a free, open-source version to hook developers. Grove has been able to effect change in the natural products market because the Grove community believes in the importance of having a noble mission and following through on protecting the environment while offering excellent products to its consumer. (The full story is here.). 8. For our feature on Next Trucking, clickhere. A lot of really terrific and brilliant people there. Redis Labs relies on whats known as NoSQL, an alternative form of compiling data that is faster than traditional models. Its awesome to know that I have that partnership. Today, Lattice works with 1,300 customers, including Coinbase, Instacart, Slack and WeWork. This is a profile preview from the PitchBook Platform. Well, Stuart, thank you so much for being on the DealMakers show today. . Less than 5% today in most categories in non-food TPG even though youre in-person customer experience with a bottle of glass cleaner is not worth talking about, that category is still some 90-some-odd-percent offline. Some of my best mentors and my favorite conversations have been ones about bringing more of the companys vision into the room, not just our financials. But doing a pivot is also quite scary. 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. But it wasnt like there was a moment where Okay. I think of it as we all are working together, and we have various roles to play. WebStuart Landesberg, Co-Founder and Chief Executive Officer, Grove Collaborative, Inc. P R E S E N T A T I O N . Grove is an auto-replenishment platform by default, but in fact, half of our shipments are ad hoc, half of them are through auto-ship, and theres a super customizable experience for consumers to make sure that people are only getting what they want and not other things. Companies started to use their own bunny logos to let customers know they were in some way animal friendly. And it wasnt like there was a breakout moment. 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. Enlarge. : Absolutely. 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. 4. Alejandro: Were you there when the actual Chapter 11 and all of that happened? I shouldnt say that. Lattice helps their employers step up. A couple that I remember in particular, we raised our seed round in January of 2016, I think. A lot of really terrific and brilliant people there. The first is transparency, and its got to go both ways. It was close a lot of times. Right? We never gave up on listening to the consumer, make a little more progress, listen to the consumer, continue to evolve the experience. Our board is excited and embraces that approach. We had a really great 2017. I think there was never a day that I worked at Lehman Brothers where the stock was higher than my first day. . The store brands weigh more, and seem to give the customer more, but cost more in the long run because the customer pays for shipping the excess water in addition to cleaner. Consumers are now demanding that companies provide products which consider impact on the world. I feel like we are 1% of the way. Grove customers use a reusable dispenser for their cleaner and that saves them money while reducing plastic waste in the environment. I was at my buddys house. It was really personal. of 354,782 shares made by Sculptor Master Fund, Ltd. This is so embarrassing, but Ill just say it. 5. : I left TPG with one of the partners who I respected deeply and actually had been an operator previously, and we started Toro on many of the same themes as TPG: long-term investing, looking for companies that had sustainable, competitive advantage. I called Paul, and I was like, Paul, theres a price at which this deal gets done. I remember coming back from this trip where I had just gotten engaged, and I was so happy. Although, Read More 20 Things You Didnt Know About Karat PackagingContinue, Planet company, which operates a network of around 200 satellites that provides Earth-imaging and analytics of the data derived from that observation, is going public in a merger with special purpose acquisition company (SPAC) dMY, Read More 20 Things You Did Not Know About PlanetContinue, Boot Barn is your one-stop-shop for cowboy or cowgirl workwear, boots, and hats. I still try to go to work every day with the same feeling of Its my job to continue listening to our consumer, continue to set our teams up for success, and continue to just make a little bit of progress every day. : Just out of curiosity, what was that time where you were like touching the cliff? Ms. Perry has served as Groves Chief Marketing Officer since 2021. Number two, penetration through e-commerce is still vanishing. That was cool. Then do it again, and over time wed look at the aggregation of those results, and its been a very solid run. WebHis net worth has been growing significantly in 2022-2023. Its stu_land or my email is [emailprotected]. The first round was like $280,000, and I was so proud of it. But I have a saying that Ive said many, many times through the last six-and-a-half years on this journey, which is, The only way out is through. Even though for those first four years four years is a long time, especially when Chris, Jordan, and I, and a lot of people on the team had given up good-paying, stable jobs to come do this. The San Francisco-based company helps retailers discover and buy new products online, and will accept free returns from them within 60 days for items that dont sell. I mean, I see at least a publicly-reported 165 million. I want them to hold me and the company accountable. Grove Collaborative maintains an anti-ingredient list. CEO Luis von Ahn, 39, is a 2006 winner of a MacArthur genius grant and a former Carnegie Mellon computer science professor. In 2019, the company founded by three Stanford graduates and the former cofounder of Meraki (a cloud startup since acquired by Cisco) signed on the city of Memphis a nearly 1,000-camera contract Juul Labs and Newtown Public School District, the district of the 2012 Sandy Hook Elementary School shooting tragedy. How Grove Collaborative Grew From a Tiny Self-Storage 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. Alfred Lin at Sequoia said something quite smart at a conference I was at recently. Then we raised our Series B from Mayfield in the first quarter of the following year. I think they both embraced it and added immeasurably in their specific dimensions to what we were bringing to market. It can be a really rich and rewarding and super enjoyable experience. GuruFocus.com a net So every step of the way, weve been fortunate to have truly phenomenal people sitting across the table from us who believed in the company vision, have been with us through when were ahead of plan and when were behind plan. Stuart Landesberg We end up spending resources in part where our stakeholders, including our stockholders, want us to focus. Stuart Landesberg around $20,350. Stuart Landesberg, Grove Collaborative: Prioritizing the Its founders, brothers Paul and Michael Dabrowski, 34 and 38, previously worked at SpaceX as engineers and drew on that experience to bring a new way of thinking to biotech. He explained that the move from heavy weight cleaning products typically found in grocery stores to the use of highly concentrated products sold and delivered to homes by Grove is making a difference in the way Grove families buy products. : My pleasure. Stuart Landesberg Net Worth (2023) - GuruFocus.com Yan forecasts revenue will hit $120 million this year, helped by large contracts with retailers Dollar General, Rite Aid and Steve Madden. Ultimately, the tissue Grove sells takes up less space on trucks, takes up less space in a home closet, and the company has less cost for shipping. For those first four years, we just strung together small angel rounds, 280, then 450, 700. The team is extraordinary, and I love my job as much today as I did on the first day, which is a lot. For me, that was just a blinding insight because it really is true that a lot of times if you dont have capital or didnt, you end up spending all of your time focusing on the consumer, which is a really, really valuable place to focus in the formative years of the business. Ive experienced investors who have a little bit of an entitlement, and they think the company does the work, and the investor sees some of the returns. 3 transactions in Grove Collaborative Holdings Inc (GROV) over the past 5 years, including 2 buys and 1 sells. : Right, and then after this, you did a little bit of a stint at Vincraft Group, and then after that, you went into TPG Growth, which Im sure taught you a lot about the way that you see and work with companies, more on the investment side. After we made our repositioning, a bunch of our strategies just started working better because the business was better positioned. But I dont think I understood at the time that there were really important milestones, and the story of what happens in-between those is much less important. I know they funded me $40,000 in the bank. I called Paul, and I was like, Paul, theres a price at which this deal gets done. Prior to joining Grove, in 2012 Mr. Clark led project management and engineering at Kaggle, Inc. and was a product manager and engineer at Blackbaud from 2007 to 2012. 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. This Is Water : Got it. You can select different timeframes to see how Stuart Landesberg's insider trading performs compared to the benchmark. Stuart Landesberg currently owns a total of 1 I think my own style as an executive, as a startup founder is definitely influenced by the folks who I most looked up to as a young professional at TPG. Virgin Group Acquisition Corp II (VGII.U) Grove does factory audits before the collaborative does business with them. 34 CEO, Grove Collaborative What the company does San Francisco company specializing in natural and sustainable 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. That research caught problems at San Francisco-based Cleo, a parenting app with a troubled workplace and a CEO who lied about her age and background. Mr. Landesberg earned a B.A. That was our only viable Series A option. So we started guiding to the flywheel, and it felt really good. But the byproduct of that is, as an employee you end up meeting a ton of brilliant executives and entrepreneurs in a very short amount of time both inside of TPG, the advisors, and the companies that we end up talking to. 40 Under 40 Class of 2020: Stuart Landesberg I feel like we are 1% of the way. Our investors, to a person, are available to us to hop on the phone, help me close candidates. 14. Stuart Landesberg was previously an investor at TPG Growth, where he was involved in over $400 million in consumer and technology investments. I saw how much time was wasted with people sorting through their emails, she says. You mentioned earlier that it took you four years or so to do your Series A, so would it be possible for you to walk us through the fundraising journey? I will talk about people a lot. How did the idea of Grove come together? And its totally okay for there not to be perfect alignment. So I think its a really good transparent and ongoing dialog, and I think of our board as our partners, not as anything else. There were multiple times I wasnt sure we were going to get the money we needed to keep going. Alejandro: Amazing. The number one thing that I wish that I had spent more time on in the early days was we spent a lot of time on evolving the product, but we also spent a lot of time on positioning the progress that we had made. Continue with Recommended Cookies, Your email address will not be published. Alejandro: Alrighty. The company name was changed in 2016 with a focus on being trustworthy for its engaged customers. show. The company had raised $150 million in its Series D round, led by Lone Pine Capital, General Atlantic, and Glynn Capital; along with new investor Greenspring Associates. : Why did you take the CEO role out of the three of you? Stuart Landesberg, Grove Collaborative Holdings: Profile There were a lot of small angel rounds. of 445,739 shares made by Oz Enhanced Master Fund, Ltd. It offers Cleaning accessories, Home and Pantry, Personal care products, Pets supplements and Other products. sale Members involved in BSCI actively participate in the auditing and integration of suppliers into the BSCI qualification and auditing program. $20.35K on March 17, 2023. They get it delivered, and they pay a subscription fee for that. Three Hills Capital Partners (THCP) is pleased to announce that it has signed an agreement with Gary Landesberg, former Chairman of the renowned Arts Club in London, and his business partners to invest in their holding to finance the launch of a newly-branded, high-end private members club group which will be rolled out globally. Stuart Landesberg: So two co-founders: Jordan Savage who is our Creative Director and fantastic guy, and Chris Clark who is also terrific, whos our CTO. So how much money have you guys raised so far? Grove was required to think carefully about everything including best practices, ratio of highest paid employees to lowest, and company equity. US Navys $255 Billion Budget Request Prioritizes Submarines and Hypersonic Capabilities Over Amphibs CEOs and operators who really understood their consumer and the depth of consumer insight and research that was possible to internalize and turn into really great decision-making was quite impressive and could be really difference-making in an industry. So many times. Just enter your email below. WebFamily & Personal Life. You might contact Stuart Landesberg via mailing address: C/o Grove Collaborative Inc., 1301 Sansome Street, San Francisco Ca 94111. Same with Chris. : The second piece is that it wasnt the money in the Series A that led to the business transformation. In 2014, he and former Aspect analyst Arshan Dabirsiaghi, 36, founded Los Altos, California-based Contrast Security to monitor the code within running apps and directly notify developers of potential vulnerabilities. Thanks, so much for having me. Then for this years-end, we ended up pivoting the business slightly. He serves on the National Resource Defense Council's SF Council and is a frequent startup advisor and investor. Number three is a willingness to think like an RM. Stuart Landesberg All Rights Reserved. not registered on network-100% Fixed in 2021, Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. Please subscribe to unlock this content. I think our personalities also meshed quite well, and there was a good shared vocabulary, and also a real mutual respect for the others areas of expertise. You were talking about the pivot earlier, and Im always a believer that theres not a single business plan or pitch deck that is going to hit the market and its going to be bulletproof, so in you guys case, you started to receive feedback, and that really contributed to making or to understand that it was the right time or the right decision to change course of action. At TPG, my role was focused on the private markets, and this would allow me to do it in the public markets. : Were you there when the actual Chapter 11 and all of that happened? And I feel so privileged to come into work every day with such smart people and work on the hard problems that have a chance of changing the category for the better. Management Team :: Grove Collaborative, Inc. (GROV) I think that normally, people give themselves three years, so the fact that you were at it for four years is remarkable. Stuart Landesberg owns about 3,172,651 units of Grove Collaborative Holdings, Inc common stock. Musician turned entrepreneur, Jack Conte, 35, wants to break the starving artist archetype by helping creators earn a regular income. But what was the experience before that happened? Seedlings product line is comprised of paper items made from bamboo and up-cycled sugar cane. For our Series A, I think we went out and talked to 156 firms. , That was awesome. 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? I still try to go to work every day with the same feeling of Its my job to continue listening to our consumer, continue to set our teams up for success, and continue to just make a little bit of progress every day.

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