Episode 63
July 20, 2021

No Cookie Cutter Company

with Matthew Jung, CEO of Last Crumb

About this episode

Matthew Jung is the CEO of Last Crumb. Nicknamed the Rolex of Cookies, Last Crumb is a direct to consumer luxury cookie brand that offers Michelin star quality cookies handmade in Los Angeles and sold nationwide via limited edition weekly drops online. In this episode, we dive into how Last Crumb launched only 11 weeks ago, they haven't spent a penny on paid media, they've been selling out in under 10 seconds each week, and how customers are scrambling to use Apple Pay simply to be able to place their orders faster for 140 dollar box of luxury cookies. While nibbling on a Last Crumb cookie myself, the best macadamia nut cookie I've ever had to be exact, I talked with Matt about the experiences he's had along his entrepreneurial journey that have brought him to where he is today, why he prioritizes experience first, brand second, and then sales at Last Crumb, and what he thinks his strengths are as CEO.

This episode is sponsored by

In This Episode You’ll Hear About:

  • How Matt got involved with such a unique company and what the process of deciding to jump into this role looked like
  • What led to the decision to build the company through drops and why that has been such a great success
  • What Matt and the team did to build enough hype to very quickly have enough interest to sell out every weekly drop within 30 minutes or less, sometimes even down to 10 seconds
  • Why experience, brand, and then sales is the order of their focus and how being intentional about their brand integrity has brought exponential growth in a very short period of time
  • What Matt’s extensive experience as a Founder and marketer in other companies in other industries was like prior to becoming the CEO of Last Crumb
  • How fundraising has been unique and why they approached it in a very Last Crumb way that will set them up for further growth and success
  • What Matt’s leadership skills are like, what his superpowers are, and why he believes in a lean team that is focused and tight to move forward in efficient ways

To Find Out More:

lastcrumb.com

Quotes:

“I shared the cookies with other people as I was exploring the opportunity and continued to talk to Derek. The response was exactly the same from everyone, which was, "Oh my God, this maybe is like the best cookie I've ever had.’"

“I think we make a really cool product that makes people really happy because it's just ridiculous.”

“There was a little conspiracy theory going on on Instagram for a while that here's no actual cookies for sale. And these people are just making this up. And it's a total marketing scheme which would have been entertaining and kind of fun. But that wasn't the case. We were increasing production by fifty percent week over week.”

“We are growing ridiculously fast. And our goal is to get cookies into people's hands, but to do it in an ultra premium way.”

“We look at ourselves as the intersection of luxury gifting, fashion, and then CPG.”

“Because people are sharing our cookies, because they have this interesting unboxing and wow factor, I think that in a way it almost creates an experience dining thing that happens with you and the people you're with that you remember and you want again.”

“We had a lot of hypotheses and we tested them. And some of them have worked really well and some of them haven't worked as well. And we're learning and we're continuing to iterate.”

“If you don't think you have it {product market fit}, you don't have it. And I think that's a really interesting thing is that, if you make something really great and it resonates with people and they want it, you know. You don't have to beg them.”

“I think that what I'm finding is that it's happening faster than I would have expected. But we're going about it in a way that is different than I've ever done it. And it's really interesting to see that.”

“Find a really good CEO or people who've been CEO that you can call.”

“My goal is that kitchen ops every day wakes up and says, "I wish you guys could have sold and shipped more cookies because we could have made more. "And every day the logistics ops says, "Man, I wish you guys could have baked more cookies because we could have shipped more." And I think that's a really interesting friction that we want to have.”

“Take the first step. Don't worry about finishing the race. Otherwise, you're never even going to get a chance in the race.”


Read the transcript

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