‘Stranger Things’ actor wants to spread his wealth around tbh, his vegan Nutella alternative • TechCrunch

Actor Noah Schnapp, who stars in Netflix’s hit series Stranger Things, aims to “reinvent” Hazelnut Cocoa Nutella for distribution, so much for tbh, the company he co-founded.

And now, Schnapp is turning to the investment stage. Republic To give fans and the masses a chance to invest in the company behind the Nutella alternative for under $50.

The actor helped launch tbh a year ago and now works with entrepreneurs and CEOs Elena Guberman and founder of UMANA (and TB investor). Ba Minuzza With a big goal: to provide consumers with a less sugary and overall healthier alternative to their favorite childhood snack, Nutella.

Tbh, the company touts, it contains 50% less sugar and 3x the protein – 6 grams of pea than its nostalgic equivalent. Also important, Schnapp, is something that is not in it: palm oil, some argue vegetable oil. Harmful to the environment. At the same time, the company works with packaging companies to “reduce their carbon footprint” to ensure they “consider the environment in their supply chain”.

Image Credits: tbh

One might wonder why Schnapp was reportedly paid per episode in the most recent season of Stranger Things. Starting Crowdfunding campaign For tbh, Schnapp told TechCrunch, the goal is to “encourage” and help the new generation of investors. Encourage them to learn how to invest in the private sector.

For those who don’t know, Republic is a New York-based fintech company that opens up investing in private market equity, debt or crypto offerings. through its retail platform.

“Obviously, my fans are very supportive, and whenever I’ve done anything with this campaign, we’ve been sharing it, like journaling,” Schnapp — who holds the title of chief snacking officer — told TechCrunch. “They love it and they support it and I think it’s a great learning opportunity for them – and for myself.”

The $50 minimum investment, believed to be the lowest ever on the Republic platform, is designed to lower the barrier to investment, said TB founder and co-CEO Guberman.

“Many of Noah’s fans are young. “This is a way to educate the audience about investing rather than just presenting the product,” she said. We are building a strong community.

Schnapp agreed, telling TechCrunch in an interview: “The beauty of this low ceiling is that it allows anyone to invest in tbh. It does not exclude anyone based on their socio-economic status or anything else. And I think that’s beautiful.

Shareholders get different benefits depending on how much they invest.

For example, people who contribute $50 get an invitation to the annual tbh investor call. Those who spend $550 will receive access to a limited number of annual tbh investor calls, a 15% discount on tbh for life (including product and service), information about new tbh pre-launch products, and a five-minute call with Schnapp. himself. Spending $7,5000 surprisingly translates into additional perks, including dinner and Schnapp with the tbh team in either NYC, LA or Miami (travel not included).

Are the cast and crew hoping to capitalize on their level of popularity and influence? Without a doubt. The 18-year-old girl has 27.5 million followers Instagram And as with most of the show’s scenes, when the oddities are prominently raised – albeit very clever – it becomes sensational with both of them. Both young and old.

A A quick scan of the internet The spread has received some rave reviews, with some describing it as “delicious” and “smooth in texture.” The biggest complaint is the high price. You can buy the product in a 14 ounce jar Amazon For 11.39 US dollars. Conversely, 13 oz. jar of Nutella sells for $3.74. Still, tbh, available online and in more than 100 stores on the West Coast, generated $550,000 in revenue in its first 10 months. Tbh said it is “in talks” with Whole Foods to put the spread on retail shelves.

The capital increase from Republic – estimated at $1.235 million – will go towards expanding the retail footprint of TB’s existing products, launching an on-the-go single-serve pack and expanding its product line.

For Schnapp, tbh represents the beginning of what he hopes will be a successful career outside of acting. The actor began studying entrepreneurship at Pennsylvania’s Wharton School of Business this fall and recently joined Penn Undergraduate Capital Partners, a student-run venture firm.

“I could definitely see myself starting a venture capital fund in the next year,” Schnapp told TechCrunch. “And I think it’s really fun to do all this. Like, I have acting and I know what to expect there. But that’s another world that I’m really excited about exploring.

Ironically, the concept of tbh was born a few years ago after Schnapp met Minuza’s quest to find celebrities with her mission to start companies “doing good for the world and consumers.” The couple came up with the idea of ​​tbh because Schnapp loves Nutella and wanted to create a healthy snack for people. Guberman later moved into the broader CPG experience.

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