Seth Goldman (businessman)
Seth Goldman | |
|---|---|
| Born | 1965 (age 58–59) |
| Alma mater | Harvard University Yale School of Management |
| Occupation | Businessman |
| Spouse | Julie Farkas |
| Parent(s) | Marshall Goldman Merle Goldman |
Seth Goldman is an American businessman. He is the president and CEO of Honest Tea, which he co-founded in 1998 with his former business school professor, Barry Nalebuff.
Early life and early career
Goldman was born in 1965 and was raised in Wellesley, Massachusetts.[1] He is Jewish.[2] His father is the economist Marshall Goldman, and his mother, Merle Goldman, is a professor of Chinese history at Boston University.[1][3]
Goldman attended Harvard University, where he studied government affairs[1] and was a student athlete, competing in cross country running and track and field.[4] After graduating in 1987, he taught English for a year in Russia and at a Beijing university.[5] Afterwards, he worked on Michael Dukakis' presidential campaign in 1988. He then served for three years as a deputy press secretary for Dukakis' running mate, United States Senator Lloyd Bentsen of Texas.[1][5] According to the Boston Herald, he exited the political arena and enrolled in the Yale School of Management after determining that "private enterprise could promote the public good".[1]
Goldman was a volunteer for Americorps.[6] He interned for the United States Department of State.[5]
Goldman married Julie Farkas in 1990, whom he met at a cooperative school in Moscow where they both taught English.[3]
After graduating from the Yale School of Management in 1995, he worked at the mutual fund company Calvert Investments, which concentrates on socially conscious investments.[7] He served as a vice president for the company.[5]
Honest Tea
Goldman co-founded Honest Tea at the end of January 1998. He first conceived of a low-calorie beverage company as an MBA student at the Yale School of Management in 1995.[6] After doing a case study about Coca-Cola vs. Pepsi for a competitive strategies class,[5] he discovered "many high-calorie, sugary drinks and many no-calorie bottled waters on the market" but few beverages in the middle.[6] He pondered concocting a low-calorie, flavorful beverage, but did not execute the idea until three years later on a trip to New York City. He trotted around Central Park with a friend and ate together at a restaurant afterwards. They looked at the menu and found none of the drinks pleasing. Goldman emailed Barry Nalebuff, his former Yale professor, asking him if the low-calorie beverage idea still was sound. Nalebuff mentored Goldman and together they decided to create a new tea. Nalebuff provided most of the $500,000 in seed funding, while Goldman contributed a smaller amount after fundraising from his friends and family.[6] Nalebuff came up with the name "Honest Tea", which sounds like "honesty".[8] Goldman built an office in the guest bedroom of his home, which he shared with his wife and three small children.[5]
Coca-Cola paid $43 million for 40% of Honest Tea with the choice of purchasing the entire company in 2011. Several organic aficionados disapproved of the sale to Coca-Cola because Goldman was required to purchase several dozen contracts from independent distributors that aided in growing Honest Tea.[7]
In 2013, Goldman coauthored a graphic book with his Honest Tea co-founder Barry Nalebuff, detailing their experiences founding and running the company.[9] Jason Abbruzzese reviewed the book for the Financial Times, writing, "The narrative is at its best when balancing the personalities of the founders: Goldman's socially conscious side and Nalebuff's economic expertise."[10]
Beyond Meat
Goldman is a practicing vegetarian. His company Beyond Meat sells its vegetarian analogs in the meat department to attract consumers who might not look in the freezer with the other veggie products.[11]
References
- ^ a b c d e Kronenberg, Jerry (2007-10-28). "All he needed to know about biz he learned from Red Sox". Boston Herald.
- ^ Jupiter, Helen (March 11, 2008). "HONEST TEA ON HONESTY: Q&A WITH SETH GOLDMAN, TEAEO". The Jew and the Carrot. Retrieved 6 July 2017.
- ^ a b "Julie Farkas Wed To Seth Goldman". The New York Times. 1990-09-03. Archived from the original on 2015-05-18. Retrieved 2015-05-18.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Knight, Rebecca (2007-11-14). "Brewing a stronger startup". Financial Times. Retrieved 2015-05-18.
- ^ a b c d e f Mirabella, Lorraine. (1999-05-05). "Md. tea in a bottle ready to go places" (pages 1 and 2). The Baltimore Sun. Archived from the original (pages 1 and 2) on 2015-05-18. Retrieved 2015-05-18.
- ^ a b c d Hyman, Julie (1998-09-14). "Honest Tea Company Fills Niche with Natural Low-Cal Alternative". The Washington Times. Archived from the original on 2015-05-18. Retrieved 2015-05-18.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ a b Howard, Theresa (2009-03-29). "Honest Tea stays true to its roots as it grows". USA Today. Archived from the original on 2015-05-18. Retrieved 2015-05-18.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Birchall, Jonathan (2009-06-10). "Tea and synergy". Financial Times. Retrieved 2015-05-18.
- ^ Olson, Elizabeth (2013-03-12). "Honest Tea Creates a Business Guide as a Comic Book". The New York Times. Archived from the original on 2015-05-18. Retrieved 2015-05-18.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Abbruzzese, Jason (2013-08-21). "'Mission in a Bottle' by Seth Goldman and Barry Nalebuff". Financial Times. Retrieved 2015-05-18.
- ^ "Man on a Mission: Honest Tea Co-Founder Seth Goldman Is Mainstreaming Healthy Food". www.startupgrind.com. Retrieved 2018-01-21.