In this episode of the Women on the Move Podcast, host Sam Saperstein sits down with Laura Modi, CEO and co-founder of the organic infant formula brand, Bobbie. From her early days as a first-time mom navigating formula options in a drugstore to founding Bobbie, Laura's journey reflects her commitment to revolutionizing the infant formula industry.
Born from motherhood
Laura says her journey to founding Bobbie began in trauma: as a new mother excited to do everything possible for her baby, she suffered from mastitis and found herself unable to breastfeed. “Here I am doing something I wished and I hoped and I wanted to do so badly and I wasn't anatomically able to feed my child,” she tells Sam.
When she went to shop for formula, things got worse: “I'm in the middle aisle of a pharmacy, a place that you go for a medical solution, not food,” she says. “It didn't feel natural. Even worse, I had to ring a button to get someone to open up. So now you almost feel like you're asking for permission in a way that you felt shamed.“
She also remembers seeing ingredients she wouldn’t feed herself: corn syrup, palm oil, and “ingredients or words that I'd never even heard of.” She felt shame and guilt, but also she knew there should be a better option. She and her husband were astounded that the baby formula industry seemed to be stuck at least 40 years in the past. That’s when she started dreaming of disrupting the industry, and creating the formula she wanted.
An ounce of naivety
Before founding Bobbie, Laura was the director of host operations at Airbnb, and she drew on her experiences there when she created her own business. And when it came time to select a partner and co-founder, Laura turned not to a food scientist or a technologist, but someone who she had worked with at Airbnb, someone who she knew she wanted as her “work wife.”
As for actually formulating the baby formula they wanted to make, Laura says that she was nearly clueless. “An ounce of naivety is probably the secret sauce to succeeding,” she tells Sam. “You learn on the go and then you go, ‘Oh God, if I knew that I probably wouldn't have gotten this far.’"
With her partner Sarah, Laura started with a global standard review, looking for the best infant formulas in the world and researching breast milk and how they could get as close as possible to breast milk in the most natural way possible. “And by no means was I trying to find a world where I was replacing breast milk or creating something ‘better’ than breast milk,” she says. “I wanted to create something that I felt could get as close as possible in the most natural way, so that in absence of not being able to breastfeed, you don't feel guilty.”
Managing growth
In 2020, just as the pandemic unfolded, Bobbie got FDA approval, the green light to launch. At the time, two baby formula companies were producing 80 percent of the nation’s formula—and not long into the pandemic, there was a nationwide shortage of available formula. Bobbie’s customer count doubled overnight. As a start-up founder, Laura had to make the difficult decision to uphold their commitment to their existing subscribers and not take new orders. The company took some flak for the decision, but as a result, Laura says, Bobbie was the only baby formula company at the end of the shortage that was able to continue to feed its customers.
For the next two years, Bobbie had to manage a growing waitlist, balancing what they knew they could deliver with the fast-growing demand from new parents. Today, the formula is available in major retailers but still focuses on its subscription service. Laura says it’s a model that makes sense, since formula is an ongoing, measurable need. And it’s important to her that customers have an option to avoid the drug-store trips. She wants people to be “able to wear Bobbie loud and proud on a sweater, even if they've never been a parent, they've never used the product, but they are so connected to our mission and what we stand for that they're willing to wear it on their chest.”
Disclaimer: The speakers’ opinions belong to them and may differ from opinions of JPMorgan Chase & Co. and its affiliates. Views presented on this podcast are those of the speakers; they are as of October 22nd, 2024 and they may not materialize.
