Michelle Obamas New Startup - PLEZi Nutrition
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GM! It's Thursday, May 11th - Today we're covering Michelle Obama's new nutrition startup and Tucker Carlson taking his massive reach to Twitter.
Michelle Obamas New Startup - PLEZi Nutrition
The Obamas have been busy since leaving the White House– acquiring an 8-figure Netflix deal, selling 2M+ copies of memoirs, and starting the Higher Grounds production company.
Despite all of this success, Michelle Obama’s latest venture, PLEZi Nutrition, may turn out to be the most lucrative.
So, What’s the Business?
PLEZi plans to bring a variety of healthy snack and drink alternatives to market and serves as an educational platform to educate families about child dietary health.
While there are plenty of sugar-free drinks for adults, the market for children’s health drinks is basically untapped. That is where PLEZi’s product innovation lies, and they make it clear with labels on each bottle that the drink contains 75% less sugar than competing brands.
Seeing how 44% of Americans want to reduce their family’s sugar consumption, starting a line of healthy kids’ drinks is a strategic move to attract a large consumer base of health-conscious parents.
PLEZi’s stated mission is to transition children away from high sugar and fat diets, regardless of family income or background. To back this mission statement, they sell their beverage at the affordable cost of $3.98 per 4-bottle pack.
The Power of Michelle Obama’s Brand Equity
Michelle Obama is technically a co-founder of PLEZi, but it’s CEO Leah Dunmore who is running the day-to-day operations. Dunmore has a track record of bringing profitable growth to M&M’s, Campbell Soup, and other big brands.
However, that’s not to say that Obama is not a critical asset to PLEZi– her brand equity is integral to the company’s success.
Massive Demand: Every business needs a way to drive demand, and Michelle Obama has a history of accomplishing this. During her time in the White House, Michelle drove over $2B into the retail sector just through her fashion choices, and companies saw an average 2.3% stock gain anytime she wore their clothes.
Audience Alignment: When Michelle Obama launched PLEZi at the Wall Street Journal’s Future of Everything Festival, she continually referred back to her health initiatives as First Lady. One of those initiatives was the “Let’s Move!” campaign in which she promoted healthy eating habits and physical activity in public schools across America.
Circle of Influence: Juggernaut Capital Partners, a private equity firm connected to over $115B in annual spend, has invested in PLEZi for an undisclosed amount. John Shulman, the founder and managing partner of Juggernaut, has openly discussed his 15-year friendship with the Former First Lady and how he’s excited to work with her.
Michelle Obama’s work in PLEZi is a perfect example of how to tap into your brand equity and scale a brand rapidly. She's sourced top-tier talent to power the operations of the business and can use her reach to drive massive demand.
While Michelle Obama will still serve a role as brand ambassador, she is free to pursue other business ventures as PLEZi is in the reliable hands of CEO Leah Dunmore and her team.
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Tucker Carlson Is Taking His Show To Twitter
You Should Know:
Tucker Carlson will now make content on Twitter, breaking his non-compete contract with Fox News that runs until 2025. The political pundit is expected to forgo at least $25M that Fox would pay him to keep quiet.
Carlson says his decision to take his show to Twitter is because he views the platform as one of the last bastions of free speech.
In less than 24 hours, Carlson’s first piece of independent content has been viewed over 100M times. For comparison, on Fox News he pulled an average 3.3M viewers a night.
Despite rumors that Elon Musk was partnering with Carlson to expand Twitter as a news outlet, Musk has denied making a deal of any kind.
Carlson’s lawyers have accused Fox News of being the first to breach the non-compete contract by releasing his private messages and blaming him for the Dominion settlement of $787.5M.