setting the scene
- you wake up at 6am and pound a cold brew to fight exhaustion ☕️
- still fatigued, you hit your local coffee shop on the way to work ☕️☕️
- you struggle to resist the office coffee machine and take an espresso shot to prepare for your busy morning ☕️☕️☕️
- at your 9am meeting, you find your hands shaking, head spinning, and heart rate accelerating 🤯
- this week’s company makes coffee that provides a caffeine fill while making drinkers feel productive, clear, and mentally sound
in a sentence
Jibby makes CBD-infused coffee and lattes
- CBD: derived from hemp; increases focus and reduces stress and anxiety
- coffee: sustainably sourced beans; boosts energy and alertness
bulleted version: Jibby is like yin and yang, with alertness from coffee and calmness from CBD bringing caffeinated equilibrium ☯️
the basics
- industry: cpg, beverage, cannabis
- headquarters: Miami, FL 🌴
- year founded: 2020
- company size: < 5 employees 🧳
- investors: Pete Lescoe, Dan Pantelo, Eliana Goldstein, Beth Goldstein
- amount raised: $300k; currently raising pre-seed
- business model: retail distribution, wholesale direct, d2c
sponsored by
- Sweater Ventures is proud to announce Barnburner, the world’s largest CONSUMER pitch competition.
- Imagine Shark Tank meets America’s Got Talent. Founders will compete to pitch on a live stage for a $500k investment from a panel of VCs, filmed in front of a live consumer audience, and premiered globally.
- Apply today, as applications for founders close on February 3rd, 2023.
due diligence
what we like
- 💥 caffeinated markets: the global ready to drink coffee market was estimated at $26.3b in 2022 (growing 8.3%), and the CBD beverage market was valued at $3.2b in 2022 (growing 28.7%)
- 💨 tailwinds: the diversifying CBD industry, preferences for low-cal, low-sugar drinks, and the evolution of coffee culture presents Jibby with a promising market opportunity
- 🚀 product expansion: the company has the potential to expand to new formats (beans, pods, and powders) and ingredients that address different functions
potential risks
- 📚 safe for work: while CBD has been readily adopted for its health benefits, Jibby must assure consumers that drinking cannabidiol is legal, healthy, and safe
- 👮🏽 regulation: despite legislation from Congress, FDA regulation may raise investor concern and prevent Jibby from effectively marketing the product
- 🛒 shelf space: Jibby competes with ready to drink coffee, CBD drinks, and functional beverages for competitive shelf space
founder profiles
- James Reina (CEO; prev. @ Venture for America, founder @ The Nut Button, The Outloud Group)
- Alvaro Ortega (COO; prev. @ Wilma Schumann, Simplesa Nutrition, Venture for America)
comps
why Jibby: with 300+ active retailers in Miami and NYC, 43% MoM reorders, and 26% monthly revenue growth, Jibby has a latte potential to define the CBD coffee industry
bulletin board
- 🗞 must read: ever thought of investing in playing cards? sneakers? whisky? our friend Wyatt Cavalier educates investors on alternative assets in his newsletter alts.co
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- 💰 deal flow: Camber is raising their pre-seed round with 20% already committed
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REDEFINING VENTURE