Haas Entrepreneur Sells Startup Krave to Hershey

Jon Sebastiani and his team came into the 2011 Berkeley Lean LaunchPad class with several key observations, Haas Lecturer Steve Blank writes in Forbes:

  • Snack foods were a large  ~$35 billion, but the moribund food category was starving for innovation and modernization
  • Meat snacks were a $2.5 billion subcategory of snacks. So there was plenty of data that proved that Americans loved to snack and loved meat snacks.
  • There was an opportunity for a new company “Jerky 2.0.” in the snack food market
  • Jon believed his competition was the conventional “Meat Guys” (the existing beef jerky companies).

Read more of Blank’s article here.