Exits & Endgames The State of Play for DTC M&A, IPO, SPACs & More
Nov 10, 2020 / 4:15 PM EST
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The days of DTC brands being valued like tech companies – unicorns galloping towards billion dollar exits- may be behind us. So what’s a founder to do? New financial vehicles like SPACs offer a different path than traditional IPOs, and this will impact how big brands think through whether to buy or build their own direct-to-consumer products and practices. In this session, industry experts share their POV on what this means for the entire brand ecosystem.
Michael Duda is the co-founder and managing partner of Bullish, an early-stage consumer investment company armed with a marketing Agency based in New York City.
Bullish is unique in that it combines the power of top-flight brand marketing, strategy and creative talent with the fund. Investing at the pre-seed, seed and series A stages, portfolio companies include Harry’s, Peloton, Casper, care\of, function of beauty, Hu Chocolate, Sunday Lawn and Warby Parker. Additionally, the marketing agency works at the highest levels in the industry, successfully building brand identities for emerging DNVB/DTC businesses to creating Super Bowl campaigns or brand launches for the likes of Anheuser-Busch, Pepsi, Nike, Walmart, and other Fortune 500 firms.
Duda has earned recognition from the likes of Business Insider (Top early-stage investor, Silicon Alley Top 100), Crain’s 40 Under 40, Modern Retail’s “DTC Investors to Know” and been featured on the critically acclaimed podcast “Invest Like the Best.”
Prior to Bullish, Duda spent 20 years in the world of Madison Avenue, including 13 at Deutsch Inc. where he became the youngest partner in company history, CEO of Johannes Leonardo and founder of Consigliere Brand Capital (rebranded as Bullish in 2015).
Duda is a graduate of St. John Fisher College (Rochester, NY) and is on the Board of Directors of Syracuse University’s Falk College of Sport and Human Dynamics. When not spending time with his wife and three sons in Connecticut, he can be found arguing with referees at a sporting event or offending someone on Twitter.
Jesse Horwitz is Co-Founder and Co-CEO at Hubble, one of America’s fastest growing direct-to-consumer e-commerce companies. Horwitz and Co-Founder Ben Cogan earned spots on Forbes’ “30 Under 30” list in 2016, and over the past two years have extended Hubble’s footprint around the world. Under Crown Publishing – Penguin Random House, Horwitz wrote and recently published “Selling Naked,” a how-to and guidance book on Direct to Consumer marketing. Horwitz is also Co-Founder at Mockingbird, a baby stroller brand, and BZR, a one-stop shop DTC platform, as well as a board member for Andie Swim, a fashion and apparel company. Horwitz is currently active in advising Resolved CX, a customer service platform for direct-to-consumer companies, AdCouncil, an online campaign to optimize voter registration for the 2020 election, and Humanity Forward, a non-profit dedicated to help raising money for those devastated by the COVID-19 pandemic.
Jeff Lin has a long history of success at both large institutions, as well as gritty start-ups. He was founder and CEO of FANCHEST, a D2C sports business that became the 2nd Fastest Growing Retailer in America and top 50 in Inc. Magazine’s 5,000 Most Successful Companies in America. He sold the business to a private equity firm specializing in consumer products and media (2019). Prior to becoming an entrepreneur, he spent 10-years on Wall Street where he was one of the youngest executive directors at his firm. Jeff is an active advisory board member in the start-up community and has worked with over 60 companies. He sits on the Consumer Brand Council at the Interactive Advertising Bureau. He also serves as Entrepreneur-in-Residence at Morgan Stanley with a focus on investing in female and multi-cultural founders. Since 2020, Jeff has been increasingly involved in the Web3 ecosystem and holds positions at JDS Crypto, Medallion, and KOTA. He lives with his wife Ali, and their boys, Jayce and Luca, in NYC.