#109 Modern Picnic: Surviving the Adpocalypse

The Pitch

Josh Muccio

Technology, Business, Investing, Entrepreneurship

4.6 • 1.5K Ratings

🗓️ 29 March 2023

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

When Ali Kaminetsky started her first job out of college, she quickly realized she didn’t have a stylish way to pack her lunch every day. So, she created Modern Picnic, a company that makes insulated vegan leather lunch boxes for women. The first two years of the company were a success. But then, in 2020, when Apple released IOS 14, it completely changed the way D2C companies scale. Now Ali needs to convince investors she’s found a new way to build a billion dollar consumer business. Today’s investors are Jillian Manus, Phil Nadel, Mark Phillips, Victor Gutwein, and Neal Sáles-Griffin If you would like to invest in Modern Picnic, go to pitch.show/picnic Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	The pitch. Day two, pitch two. September 16th, 2020. The day Facebook stopped serving
0:10.8	us eerily spot on ads. Before this, Facebook was tracking our every move on every app
0:18.2	and targeting us for products we didn't even know we needed. Startups like Glossier, Allbirds
0:24.8	and Casper all turned into billion dollar companies by pouring VC money into these targeted
0:31.2	ads. It's like for this brief moment in time, there was a machine that printed unicorns.
0:38.0	That was until Apple shut it all down with their release of iOS 14. It completely kneecapped
0:45.2	Facebook's ability to collect data on you. And overnight, that unicorn printer got jammed
0:52.5	indefinitely. What then should you do if you're a founder trying to scale the next big consumer
0:59.2	brand? How do you convince VCs to give you money? Sounds like a tough sell. Today, that's
1:06.4	exactly what's happening on our show. Founder Ali Kamonetski will need to convince investors
1:12.7	she has her own path to build a billion dollar business. I'm Josh Muccio and you're listening
1:18.9	to The Pitch, where relaunch per newers pitched to real investors for real money.
1:23.7	I'm Neil Salis Griffin, managing director here at TechSar Chicago and I'm happy to welcome
1:29.7	me all to my city. I'm Phil Neadell, I'm the managing director of Forefront Venture Partners.
1:34.8	I'm Jillian Manes, managing partner of Structure Capital. I'm Mark Phillips, managing director
1:39.6	of 11 Tribes Ventures. I'm Victor Gutwine, I'm the founder and managing partner of M25.
1:48.8	And Pitch, for Modern Picnic, is coming up after this.
1:55.8	Time for Diet Coke. Yes, yes, yes.
2:04.8	I really need a good zap. Love what you love. Diet Coke. Get runaway ready, a chance
2:14.3	to win the ultimate shopping experience plus hundreds of prizes curated by Cabe Moss.
2:19.2	From a Paxen store, 18 plus teas and teas visit Coke.co.uk slash break.
2:24.2	The information provided on this show is not intended to be investment advice and should
	...

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