He Paid Himself $60K While Vita Coco Did $100M In Sales | Built Different

Michael Kirban co-founded Vita Coco in 2004 and didn't turn a profit until 2011. He maxed out credit cards, missed payroll, and by his account was paying himself $60,000 a year as sales reached around $100 million. The Vita Coco co-founder and executive chairman tells Ian Schwartzman how a waterfall of discarded coconut water in the Philippines became a supply chain no competitor can match, how Madonna and a group of celebrities took his entire $10 million round, and why the brand is now winning over teenagers. Timestamps 00:00 Intro 00:55 The Brazilian bar origin story 02:38 Creating a category that didn't exist 03:45 Why speed beats perfection 05:15 Moving faster than legal and HR 06:25 The CEO who is his opposite 07:38 Maxing out credit cards and missing payroll 09:45 Finding the source 11:09 The waterfall in the Philippines 12:47 The supply chain no one can copy 14:14 How Madonna became an investor 17:13 Ringing the bell 17:36 Seven years without a profit 19:28 From sampling cups to creators 22:26 Why teenagers are buying it 23:08 Center Cut Cards #VitaCoco #CoconutWater #Entrepreneurship #BuiltDifferent #YahooFinance == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors. 👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571

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