Laura Modi Explained
Laura Modi is an Irish-American executive and the co-founder and CEO of Bobbie. Before Bobbie, she was director of hospitality at Airbnb.
Early career
Modi began her career at Portwest, a workwear and personal protective equipment business run by her family and founded by her great-grandfather in Ireland.
Bobbie
Modi originally had the idea to found an organic infant formula company in 2016, when she was seeking formula to feed her first child[1] that excluded palm oil and corn syrup from the ingredients.[2] Over the next 18 months, she researched the industry and possible recipes,[3] finding that the last significant U.S. Food and Drug Administration update to formula nutritional standards occurred in the 1980s.[4] Modi self-funded the company with funds from savings and consultancy work[5] Modi hired her past Airbnb colleague Sarah Hardy, who joined as co-founder in 2019.
In May 2019, an early pilot of Bobbie's formula led to a FDA inspection and a recall due to noncompliant labeling. Modi updated Bobbie's supply chain, partnering with Perrigo on manufacturing,[6] and relaunched its "European-style" infant formula in compliance with FDA guidelines in January 2021.[7] Bobbie's revenue grew to $100 million by 2023,[8] even though Modi had made the decision to pause new customer registrations for six months during the 2022 United States infant formula shortage.[3] In July 2023, Modi led Bobbie's acquisition of Nature's One, another formula brand, funded in part by a $70 million funding round raised by Modi.[8]
As part of Bobbie's workplace culture, Modi prioritizes providing robust leave and job security to new parents.[9] [10] She also set up Bobbie For Change,[9] the company's advocacy arm.[11]
Notes and References
- News: Wiedeman . Reeves . Milk Money: The Start-Ups Racing to Shake Up the Baby Formula Industry . 11 August 2024 . Intelligencer . . 30 August 2022 . en.
- News: Smith . Morgan . This CEO left an exec job at Airbnb to start her own baby formula company—in 2022, it brought in $84 million . 11 August 2024 . CNBC . 26 July 2023 . en.
- News: McGrath . Maggie . Startup Bobbie Proves There's Profit In Baby Formula Despite The Dominance Of Industry Giants . 14 August 2024 . Forbes . 19 May 2023 . en.
- News: Ellenberg . Celia . This New FDA-Approved Baby Formula Brand Is Bridging the Gap between Lobbyists and Lactivists . 5 October 2024 . Vogue . 28 January 2021.
- News: Harris . Ainsley . AltSchool snags execs from Airbnb, top public and charter schools . 11 August 2024 . Fast Company . 6 April 2017. .
- News: Buchanan . Leigh . How an Infant Formula Startup Survived an FDA Crackdown and Recall at Launch . 11 August 2024 . Inc. . 30 September 2020.
- News: Hinchliffe . Emma . How an infant formula startup recovered from an FDA recall . 11 August 2024 . Fortune . 4 January 2021 . en.
- News: Hinchcliffe . Emma . Exclusive: Infant formula startup Bobbie raises $70 million to acquire 26-year-old brand Nature's One . 14 August 2024 . Fortune . 23 July 2023.
- News: Lagorio-Chafkin . Christine . These Moms Created the Company Culture They'd Always Wanted . 11 August 2024 . Inc. . May 2022.
- News: Mohan . Pavithra . How this baby formula startup is leading the charge on parental leave . 11 August 2024 . Fast Company . 15 May 2024.
- News: Fluker . Dominique . 'I Didn't Know That This Could Happen To Me': Elaine Welteroth Shares Birth Story To Fight Maternal Mortality Crisis . 5 October 2024 . Essence . 1 February 2023.
