In The Money: eCommerce, DTC, and CPG

No Formula. No Co-Man. No Branding. Nationwide Whole Foods in Three Months.

32 min · 30. juni 2026
Billede af episoden No Formula. No Co-Man. No Branding. Nationwide Whole Foods in Three Months.

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What does it look like to sell a brand to Kraft Heinz for a reported $200 million, and then build the second one with three kids under seven and no social media on your phone? Morgan Zanotti, Founder and CEO of Waay, joins In The Money to break down what changed and what stayed the same the second time around. Waay is a fizzy, clear sparkling protein water, 10 grams of protein, 45 calories, zero sugar, built for women who are tired of choking down chalky shakes to hit their protein goals. Before Waay, Morgan co-founded Primal Kitchen alongside Mark Sisson, bootstrapped it to $50M in revenue profitably, and led the company through its $200 million acquisition by Kraft Heinz in 2019. We cover: * Why Morgan built Waay after watching the protein trend get sold entirely to men * The Primal Kitchen playbook: bootstrapping to $50M before the exit * What she learned inside Kraft Heinz about scale, GLP-1s, and category timing * Why she pitched Whole Foods with a silver can, no final formula, no co-manufacturer, and no branding, and how they said yes nationwide anyway * 18 months of formulation: getting real protein, zero sucralose, and a taste that doesn't announce itself * Building the entire brand identity in three months and launching by October * Why she went Whole Foods first instead of Target, and how that sequencing shaped everything that followed * The clear protein category: how it's exploding globally and why the US is just catching up * Building lean the second time: a small remote team built through referrals, no agency * Raising capital on traction versus raising on hopes and dreams * What she'd do exactly the same the second time, and what she's doing completely differently * Balancing three kids under seven with building a fast-scaling consumer brand If you're building a consumer brand, thinking about a second act after an exit, or trying to figure out how to build with intention instead of urgency, this episode is one of the most grounded founder conversations I've put out this year.

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63 episodes

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episode No Formula. No Co-Man. No Branding. Nationwide Whole Foods in Three Months. artwork

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