Poppi's $1.95B exit is being hailed as the new "North Star" for food entrepreneurs – but Sarah isn't buying the headlines.

When she dug into the reported investor returns, the math literally doesn't work. Forbes reported returns that would individually equal the entire acquisition price – a mathematical impossibility. But if major publications can't do basic math on these deals, what else are we getting wrong?

With $39 million invested over seven years to fuel Poppi's rapid growth from Shark Tank to nationwide distribution, this wasn't a bootstrap success story. Sarah traces the money trail and questions who actually won in this deal. Was it the founders who built the company, or the investors who funded the journey?

As more independent food brands get absorbed by giants like PepsiCo, entrepreneurs need to know the real financial playbook – not the fairy tale version making headlines.

All findings discussed in this episode are opinions based on publicly available reporting. We've compiled every article, press release, and data source we referenced so you can do your own research and draw your own conclusions.

Food Republic: Mother Beverage/Poppi, here’s what happened after Shark Tank

The Wall Street Journal: Small Investor Group Scores 88-Fold Return in Poppi Sale

Space Funding: How $105,000 Invested in Poppi Turned Into $9.5 Million: The Power of Early-Stage Investing

Food Navigator: Poppi closes $13.5m funding round led by CAVU Ventures and backed by celebrity investors: 'Poppi is the modern soda for the next generation'

Forbes: Viral TikTok Prebiotic Soda Brand Poppi Raises $25 Million Series B To Expand Nationwide Through DSD

Taste Radio: How A Four-Letter Word Sparked Poppi’s Billion-Dollar Trajectory

BevNet: Best of 2023

Forbes: Poppi Investors Russell Westbrook, 24KGoldn Cash In On $2B PepsiCo DealPress Release from Pepsi Co.

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