Summary:
Jonas Tempel hands over Opopop leadership to Patrick Yee.
Opopop projected to exceed $7 million in revenue this year.
Unique flavor-wrapped popcorn sets Opopop apart from competitors.
Yee aims to expand retail presence after initial success in direct-to-consumer sales.
The company raised over $2 million to support growth initiatives.
As Jonas Tempel steps down, Patrick Yee steps in as the new CEO of Opopop, a unique flavored popcorn company known for its innovative popcorn technology. Tempel, who founded the company in 2021, has been transitioning out since July, after bringing in Yee, a former chief marketing officer at Refinery29 and Daily Harvest.
A Shift in Strategy
Tempel's focus has been on fundraising, brand development, and production, with hopes for Opopop to expand beyond its direct-to-consumer model into broader retail channels. With projected revenues exceeding $7 million this year, Opopop has carved a niche with its flavor-wrapped kernels, offering unique flavors like Super Butter, Cinnalicious, and Maui Heat.
Premium Product Pricing
Opopop's products, including an 11.3-ounce bag priced between $17 to $18, position it as a premium option in the market. Tempel emphasizes the use of real ingredients as a key differentiator, stating, "We’re expensive, but it’s because we use real ingredients."
Retail Expansion Plans
Yee, who helped Daily Harvest triple in size, aims to replicate that success at Opopop. The company has recently entered Meijer grocery stores in six Midwestern states and is exploring further retail partnerships for the upcoming year. With a strategy focused on learning the market, they expect to see revenue growth beyond the average 20% increase experienced over the past three years.
Operational Insights
The company currently ships about 1,000 orders per week, which can surge to 15,000 during the holiday season, accounting for 65-70% of their annual revenue. They recently raised over $2 million to bolster their next growth phase.
Tempel's New Venture
While Tempel will remain on the board, he is transitioning to his new agency, Alfa, which focuses on branding for startups. As he advises three startups on their branding, he remains confident in Opopop's future under Yee's leadership.
Opopop is not just another popcorn brand; it’s a blend of innovative flavors and a fresh approach to retail, aiming to dethrone long-standing favorites like Orville Redenbacher.
Comments