#105 Equity Crowdfunding Insights: How Ghost Town Oats is Cultivating Community & Opportunities with Ezra Baker

Last time we talked about equity crowdfunding on the show, many of you let me know that you wanted more equity crowdfunding content. When I saw that Ghost Town Oats had launched their second Wefunder campaign, I thought it would be a great opportunity for us to talk more about equity crowdfunding and to introduce you to Ghost Town Oats if you aren’t familiar. Ghost Town Oats is the first Black-owned, queer-owned, barista-owned oat milk company. Ghost Town Oats was developed by three baristas, Michelle R. Johnson, Eric Grimm, and Ezra Baker, who were a part of oat milk’s initial rise to fame in some of the first shops to carry it. Having been unpaid ambassadors while also seeing its marketability skew towards the upper economic class of society, it was time to flip the script: make a premium oat milk of their own and create a brand that appealed to a broader audience. They formulated Ghost Town Oats for incredible taste, steaming capability, and versatility, and the reviews are in: it’s a hit! They reached $1 million in revenue 10 months after launch, they’ve already produced over 1 million units of oat milk, and they are already carried in over 500 coffee shops. Our guest today is Ghost Town’s Chief Product Officer and Co-Founder Ezra Baker.Listen in as Ezra shares about:How Ghost Town Oats got started during the pandemicTheir first Wefunder equity crowdfunding campaign in 2022 where they raised over $210,000 from almost 500 investors in less than a week and NBA all-star Jimmy Butler was a lead investorTheir second and currently ongoing Wefunder campaign, from what they learned from the first campaign to how it works to set up a campaignHow they distribute to 500+ coffee shops and what’s next for Ghost Town in the foodservice channelFirst hires for Ghost Town and how they plan ahead for their next hiresPress opportunities like Good Morning AmericaAnd moreGet your ticket to the Expo East Mic Drop party for a chance to win a spot on the podcast: https://tinyurl.com/4nafz284This episode was sponsored by Settle. Go to https://www.settle.com/startupcpgThis episode was sponsored by Graphite Financial. Go to graphitefinancial.com/cpgEpisode Links:Ghost Town Oats websiteCurrent Ghost Town Oats Wefunder campaignOrder Ghost Town Oats on DayglowNo Free Refills PodcastEzra’s LinkedInMentions: Tetra Pak, Shoreline, Go Get Em Tiger, CBC Specialty Beverage, Stan’s Donuts, Dom's Kitchen & Market, Cafe Grumpy, Saveur, Prosperity Market, Black Market FleaMic Drop Party at Expo East Giveaway:Enter the giveaway to win a spot on this podcast and The Dish by buying your ticket to the Mic Drop party in Philadelphia on September 21, 2023 hereNote: Giveaway only available to CPG brands and must be present at party in-person to win. If you already bought a ticket, you’ve automatically been entered!Settle Links:Settle websiteFind out your Settle financing power hereGraphite Financial LinksGraphite Financial websiteDownload a free financial model template, chart of accounts template, and more hereListen to our episode with Graphite founder, Paul Bianco, episode #96 here.Show Links:Join the Startup CPG Slack community (14K+ members and growing!)Follow @startupcpgVisit host Jessi Freitag's Linkedin or websiteQuestions or comments about the episode? Email Jessi at [email protected] music by Super Fantastics