Bobbie: Laura Modi. How a Baby Formula Startup Took Market Share From Two Industry Giants
About this episode
Laura Modi shares her journey of building Bobbie, a baby formula startup, overcoming significant challenges to capture market share from industry giants.
Laura Modi set out to build a better infant formula. What followed was years of setbacks: a crippling dispute with the FDA, a frustrating search for a manufacturer, and the constant fear that the company would run out of money before it reached customers. But today, Bobbie generates over $100 million a year and has captured nearly 4% of the U.S. infant formula market by challenging one of the most protected industries in America. In this conversation, Laura explains how she made it through—and why many of the moments that looked like disasters ultimately built a better company, and made her a better entrepreneur. You'll learn: Why Laura left a great job to launch one of the most heavily regulated products in America How she spent nearly $200,000 of her own savings before raising outside capital How 64 investor pitches helped her tell a better story How a public apology changed the trajectory of the company Why Bobbie turned away thousands of customers during its fastest period of growth Why Laura moved to Washington, D.C., and how she thinks about federal oversight Timestamps: 13:17 – The emotional experience that revealed a massive business opportunity 23:09 – Laura learns about…
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