347. Stephen Ellsworth, Founder of poppi

Today, I'm joined by Stephen Ellsworth, founder of poppi.   Originally launched at farmers markets as "Mother Beverage," poppi rebranded in 2020 and scaled rapidly before being acquired by PepsiCo for nearly $2B.   In this episode, we discuss cultivating consumer obsession.   We also cover:   How 2.5 years at farmers markets became the ultimate R&D Why the $50M revenue milestone matters Landing a deal on Shark Tank Subscribe to the podcast → insider.fitt.co/podcast  Subscribe to our newsletter → insider.fitt.co/subscribe  Follow us on LinkedIn → linkedin.com/company/fittinsider    Website: www.drinkpoppi.com/  Stephen's Instagram: https://www.instagram.com/stephenellsworth_/    -   The Fitt Insider Podcast is brought to you by EGYM. Visit EGYM.com  to learn more about its smart fitness ecosystem for fitness and health facilities. Fitt Talent: https://talent.fitt.co/  Consulting: https://consulting.fitt.co/  Investments: https://capital.fitt.co/    Chapters: (00:00) Introduction (01:49) Background and poppi origin story (02:40) Mother Beverage to poppi journey (04:50) Two-year R&D at farmers market (06:20) Shark Tank and capital inflection (08:12) Rebranding decision and strategy (11:00) 2020 timing and category alignment (12:40) Intuition-driven product development (13:40) COVID acceleration (14:45) $50M inflection point (16:20) Founder preferences: zero to one vs. scaling (17:50) Product obsession and team building (18:40) 15–20% better formula (20:00) poppi playbook and thinking differently (21:50) Democratizing better-for-you foods (25:30) PepsiCo acquisition concerns (28:45) Large incumbents vs. innovation (31:00) Post-acquisition emotions (35:15) Preferment vs. retirement (37:30) What's next (39:15) Conclusion