I was introduced to the female founders of Liddabit Sweets and wrote about their journey. I knew their product already just by watching new items pop-up in the food industry in the NYC area. The products are delicious and worth every bite.
I met with the founders because I do have a soft spot in my heart for people starting food businesses particularly ones where I have tasted their wares. I was upfront that I was happy to talk and perhaps be of help through advice or a friendly ear but I wasn’t going to invest. Wrong.
After we met them I couldn’t stop thinking about what they had built and where they were going to take the business. They learned a lot over the last couple of years and now it was time to really build the business. Look at every product and understand the margins, figure out where the products should they be sitting in a big box store vs selling their products online (you can do both), and how to narrow down the line and move into other sizes based on all of that knowledge. Impressive and focused.
And so…I made the investment leap. Three women who each have different roles in the company but what is more unique is that they make their own products which I really like. If you have any interest in this, check out their info on Circle-Up. They are raising capital right now and I am thrilled to be part of this sweet team.
How does an LLC raise on a Note?
They all do. Cpg tends to remain LLCs vs other companies.
Right but Im asking – does the Note mature – and how does it convert? Is it an ownership right in the partnership?
Converts just like any other note.
Got it, interesting!