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Michael Cammarata

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Michael Cammarata
BornDecember 26, 1985
Long Island, New York
Known forCEO of Neptune Wellness Solutions | Co-founder of Schmidt's Naturals

Michael Cammarata (born December 26, 1985)[1][2] is an American entrepreneur, investor, and wellness industry executive. He is president and chief executive officer of Neptune Wellness Solutions,[3] a Canadian/American wellness company [4] and the co-founder and former chief executive officer of Schmidt’s Naturals,[5] an all-natural personal care company acquired by Unilever in 2017.[6] Cammarata also operates the venture capital fund Random Occurrence.[7]

Early life

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A native of Long Island, New York,[1] Cammarata was diagnosed with dyslexia as a child and had difficulties in school.[8] In elementary school, he spent many hours playing StarCraft on his home computer and developed an aptitude for gaming, computers, and the internet.[8][6] At the age of 13, he started his first business, a web hosting company, EzzHosting,[1] on a dedicated server he purchased with $2,000 he earned from his older brother.[6][8] The company’s sites served 5 million unique monthly viewers; That year, Cammarata made his first million dollars.[1]

Cammarata developed one of the first internet message boards, Ultraboard, also known as UB and UB2K.[9][10][11] Ultraboard first launched in 1996 and was one of the first message boards to use PHP. It was also used by the popular video game Counter-Strike.[8]

Cammarata released the first video game music video, which was one of the most downloaded files on GameSpy[8] in 2001; Diablo II/Gangsters Paradise music video and Starcraft/Limp Bizkit music video by GamingMV[12]

At 15, Cammarata launched a second business, an online advertising network.[6] He gave away websites for free to sell internet ads. He was involved in Cox Interactive (digital ad sales) and AdCritic.com, which became part of Ad Age.[8] By age 20, he had generated $85 million in revenue.[8] He chose to forgo college[6] to focus on his businesses.

Career

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Big Time Rush

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In 2009, Cammarata transitioned from technology into the music industry, managing the teen boy band Big Time Rush.[8] The group’s first album, BTR, debuted at number 3 on the Billboard 200 in October 2010.[13][14] The band’s musicians were simultaneously featured in a hit television series, which ran from 2009-2013 on Nickelodeon.[15] Cammarata managed the band through his company CMI Entertainment group.[16] In 2012, CMI announced the production of the animated film The Great Migration starring lead singer Kendall Schmidt.[16][17]

Cammarata was an associate producer for the reality television series Knockout from 2014-2016.[18][better source needed]

Schmidt’s Naturals

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In 2013, Cammarata started an investment fund, Random Occurrence (originally KM Organics Fund).[1][7] As a band manager, Cammarata had observed a desire among fans for all-natural personal care products.[6][19][20] The following year, Cammarata set out to begin investing in the natural products space. In 2014 he met Jamie Schmidt, a creator of natural deodorant products based in Portland, Oregon, and invested in her.[7][19][21][22][23]

In January 2015, Cammarata and Schmidt officially incorporated Schmidt’s Deodorant Company, LLC (SDC) and launched the company as co-founders and co-chief executive officers.[1][21] Over the next few years, Cammarata worked closely with Schmidt, growing SDC from 4 employees[22] in a 1,200-square-foot kitchen to a 30,000-square-foot manufacturing facility.[24] Cammarata drove the product's rebranding, manufacturing, digital marketing, and expansion into retailers, including Target, Walgreens, Kroger, and Whole Foods, while Schmidt focused on the product.[19][22][24] In early 2017, Cammarata and Schmidt were finalists in the EY Entrepreneur of the Year 2017 Awards for the Pacific Northwest Region.[25]

By 2017, Schmidt’s Deodorant Company had 160 employees,[22] and sold its products in over 14,000 stores in 30 countries worldwide. Later that year, SDC rebranded as Schmidt’s Naturals and was acquired by British-Dutch consumer products conglomerate Unilever in a 9-figure exit.[20]

Post-acquisition, Cammarata stayed on as global chief executive officer of Schmidt’s, stewarding the brand’s growth of 300% before the end of 2018.[22] During his tenure, he introduced a sensitive-skin version of the deodorant in partnership with pop star Justin Bieber called “Here + Now” [26] and a Lily of the Valley-scented deodorant with environmentalist Jane Goodall.[27]

Neptune Wellness Solutions

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In July 2019, Cammarata joined Neptune Wellness Solutions, the publicly traded American/Canadian cannabinoid extraction and integrated wellness company, as president and chief executive officer.[28] Shortly after joining Neptune, Cammarata helped Neptune raise $41 million through a private stock placement with new and existing institutional investors.[29]

In February 2020, Cammarata launched Neptune’s first two consumer wellness brands, Forest Remedies and Ocean Remedies.[30][31] In honor of the brand launch, Cammarata rang the NASDAQ exchange’s closing bell on February 20, 2020.[32]

In April 2020, Cammarata submitted to the U.S. FDA registration to commercialize hand-sanitizers in the wake of Covid-19.[33][34] In May, they announced the distribution of contactless thermometers, in June, pulse oximeters, and in August, disinfectant wipes.[33]

In April, Cammarata again partnered with friend and conservationist Jane Goodall to develop a new line of plant-based products, including essential oils.[35][36]

In December, Cammarata launched the companies third consumer brand, Mood Ring, in Canada.[37]

In February 2021, Cammarata acquired a controlling interest in baby-food maker Sprout Foods in a transaction that brought Morgan Stanley Expansion Capital into Neptune as a major shareholder. [38]

In June 2021, Cammarata announced a licensing agreement between Sprout and children's entertainment brand CoComelon. [39]

In June of 2022, Neptune Wellness Solutions announced a reverse stock split of 35 to 1,[40] and the divestiture of its cannabis business.[41]

Neptune Wellness Solution's market capitalization fell from a peak of $530 million on July 30, 2019, to $5.09 million as of December 14, 2022 as the company transitioned out of the cannabis business.[42] Since divesting cannabis, Neptune Wellness Solutions has been able to build better relationships with investors, other corporations, and banks, many of whom have restrictions against working with companies that own and/or operate cannabis businesses, Chief Financial Officer Raymond Silcock Chief Financial Officer Raymond Silcock stated in the company’s March 2023 earnings call with analysts. Cammarata said: “Operating a business with such a highly controlled substance was prohibitively expensive from an administrative standpoint, and we are already seeing the benefits from this decision.” [43]

Personal life

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Cammarata lives in Jupiter, Florida.[44] He has a Siberian Husky named Rico.[45]

References

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  1. ^ a b c d e f "Michael Cammarata, CEO and Entrepreneur, On His Journey to Acquisition, Despite Dyslexia". Men's Journal. 2019-12-19. Retrieved 2021-01-02.
  2. ^ "Facebook". www.facebook.com. Retrieved 2021-01-03.
  3. ^ "Neptune Appoints Michael Cammarata as Chief Executive Officer". www.prnewswire.com. Neptune Wellness Solutions. Retrieved 2021-01-02.
  4. ^ "NEPT Stock Price | Neptune Wellness Solutions Inc. Stock Quote (U.S.: Nasdaq)". MarketWatch. Retrieved 2021-01-02.
  5. ^ "Neptune Appoints Schmidt's Naturals Co-Founder Michael Cammarata CEO As CPG Executive And Investor Interest In The Cannabis Segment Swells". Beauty Independent. 2019-07-09. Retrieved 2021-01-02.
  6. ^ a b c d e f "I Made My First Million at 13. Here's My No. 1 Rule for Investing". Money. Retrieved 2021-01-02.
  7. ^ a b c Raphael, Rina (2017-08-02). "Forget Avocado Toast: Millennials Are Flocking To Natural Deodorant". Fast Company. Retrieved 2021-01-02.
  8. ^ a b c d e f g h Cremades, Alejandro. "He Was Expected To Fail Because Of His Dyslexia. He Then Made His First $1 Million At 13 And By Age 20 He Was Making Over $100 Million". Forbes. Retrieved 2021-01-02.
  9. ^ "Michael Cammarata - Named Among the Finalists for the EY Entrepreneur of the Year 2017 Award". Accesswire. Retrieved 2021-01-03.
  10. ^ "UltraBoard 2000". 2000-05-11. Archived from the original on 2000-05-11. Retrieved 2021-01-03.
  11. ^ "UltraBoard 2000 Official WebSite". 2001-06-07. Archived from the original on 2001-06-07. Retrieved 2021-01-03.
  12. ^ "Welcome to GamingMV dot com, Your source for Gaming Music Videos". 2001-02-23. Archived from the original on 2001-02-23. Retrieved 2021-01-03.
  13. ^ "Big Time Rush". Billboard. Retrieved 2021-01-02.
  14. ^ "The Unlikely Inspiration That Led This Entrepreneur From Boy Band Manager to Beauty Brand Co-Founder". Entrepreneur. 2018-04-17. Retrieved 2021-01-03.
  15. ^ "Big Time Rush Full Episodes videoları". Dailymotion (in Turkish). Retrieved 2021-01-02.
  16. ^ a b "Vanessa Hudgens, Ashley Tisdale, Big Time Rush Members to Star in Animated Film (Exclusive) | Hollywood Reporter". www.hollywoodreporter.com. 19 September 2012. Retrieved 2021-01-03.
  17. ^ Fleming, Mike Jr. (2013-11-26). "Big Time Rush Singer Kendall Schmidt's Solo Transition Gets Feature Documentary". Deadline. Retrieved 2021-01-03.
  18. ^ "Michael Cammarata - Filmography". pro.imdb.com. Retrieved 2021-01-03.
  19. ^ a b c Sandler, Emma. "How Schmidt's Naturals Made Deodorant In A Jar Fashionable". Forbes. Retrieved 2021-01-02.
  20. ^ a b Ang, Katerina. "Americans are so obsessed with how they smell that Unilever just bought this hipster deodorant brand". MarketWatch. Retrieved 2021-01-02.
  21. ^ a b Berthene, April (2018-10-12). "The secret ingredients to Schmidt's natural deodorant's success". Digital Commerce 360. Retrieved 2021-01-02.
  22. ^ a b c d e "8 months in, indie brand Schmidt's Naturals is adjusting to life at Unilever". Glossy. 2018-08-30. Retrieved 2021-01-02.
  23. ^ "An All-Natural Portland Deodorant Brand Goes Big". Portland Monthly. Retrieved 2021-01-03.
  24. ^ a b Chhabra, Esha. "How This Oregon Brand Went From A Small Business To A Global Powerhouse In Wellness". Forbes. Retrieved 2021-01-03.
  25. ^ Giegerich, Andy (Apr 26, 2017). "6 Portland entrepreneurs vie for top EY regional award". www.bizjournals.com. Retrieved 2021-01-03.
  26. ^ "Justin Bieber Has a Brand New Beauty Gig — and It's Not What You'd Expect". Us Weekly. 2019-05-21. Retrieved 2021-01-02.
  27. ^ "Schmidt's Naturals, Jane Goodall Institute partner on deodorants". Drug Store News. Retrieved 2021-01-02.
  28. ^ Kilgore, Tomi. "Neptune Wellness CEO Jim Hamilton steps down, succeeded by Michael Cammarata". MarketWatch. Retrieved 2021-01-02.
  29. ^ Linnane, Ciara. "Cannabis extraction company Neptune Wellness raises $41 million". MarketWatch. Retrieved 2021-01-02.
  30. ^ "Neptune Wellness Solutions preps to become the first consumer packaged goods CBD company". Glossy. 2020-02-14. Retrieved 2021-01-02.
  31. ^ Roche, Eddie (2020-09-02). "Forest Remedies is the All-natural CBD Line to Get Excited About". Daily Front Row. Retrieved 2021-01-03.
  32. ^ "Neptune Wellness Solutions Inc. Rings The Nasdaq Stock Market Closing Bell". Nasdaq.com. January 2, 2021.
  33. ^ a b "Neptune Wellness: Is this Hemp Stock a Strong Buy? Algotrading". Cannin - Cannabis & Hemp Investment Group. 2020-08-06. Retrieved 2021-01-03.
  34. ^ "(2021) ᐉ Neptune Wellness Solutions Inc (NASDAQ:NEPT) Introduces Six Scented Varieties In Plant-Based Hand Sanitizers For Launch In July ᐉ CBD Trips". CBD Trips. 30 June 2020. Retrieved 2021-01-03.
  35. ^ Caldwell, Georgina (2020-04-28). "Neptune Wellness partners with Dr Jane Goodall to co-develop Forest Remedies line". Global Cosmetics News. Retrieved 2021-01-03.
  36. ^ Ruffner, Zoe (14 October 2020). "Jane Goodall on the Simple Steps We Should All Take to Save the Planet". Vogue. Retrieved 2021-01-03.
  37. ^ "Virtual Conference Marks Launch of Mood Ring™ Cannabis Products in British Columbia". www.marketscreener.com. Retrieved 2021-01-03.
  38. ^ "Neptune Wellness Acquires Controlling Stake in MSEC Backed Sprout Foods". www.pehub.com. Retrieved 2022-12-14.
  39. ^ "Neptune Announces Exclusive Licensing Agreement Between Sprout Foods and CoComelon".
  40. ^ "Neptune Wellness Solutions Inc. Announces Share Consolidation". www.prnewswire.com. Retrieved 2022-12-14.
  41. ^ Borchardt, Debra. "Neptune Wellness is Selling Its Canadian Cannabis Business". Green Market Report. Retrieved 2022-12-14.
  42. ^ "Market capitalization of Neptune Wellness Solutions (NEPT)". www.companiesmarketcap.com. Retrieved 2022-12-14.
  43. ^ "Neptune Wellness Seems Relieved to be Done with Cannabis". Green Market Report. Retrieved 2023-04-11.
  44. ^ "Michael Cammarata". LinkedIn. January 2, 2021. Retrieved January 2, 2021.
  45. ^ Bruneau, Megan. "He Was Told He'd 'Never Amount To Anything' Due To Dyslexia. By Thirteen He'd Made His First Million". Forbes. Retrieved 2021-01-03.
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