Laird Superfood files for $40M IPO
Big Wave Surfer Laird Hamilton's Laird Superfood's, a creator of plant-based superfood products, filed for a $40 million IPO with the SEC. Filings show the brand had revenue of $13.1 million in 2019 compared to $8.3 million a year earlier.
In the first six months of 2020, revenue jumped to $11.1 million and has proposed trading under the ticker symbol LSF.
Laird's products are currently sold in about 5,500 stores and in its filing, said its goal is "to build the first scale-level and widely recognized brand that authentically focuses on natural ingredients, nutritional density, and functionality."
Out of all the action sports athlete-driven brands we've seen launch lately, this one seems like its not only on-trend but it also has a pretty sound business plan. And while Laird is no stranger to risk when charging big waves, it's estimated the market for natural, organic, and functional foods and beverages is $152 billion making it very competitive but also prime for disruption.