Tiff's Treats Explained

Tiff's Treats
Type:Private
Industry:Food (bakery)
Founded:1999
Founder:Leon Chen
Tiffany Chen
Hq Location:Austin, Texas
Num Locations:93
Equity:$500 million
Num Employees:2,000
Website:https://www.cookiedelivery.com/

Tiff’s Treats is a privately held cookie manufacturing and delivery company, founded in Austin, Texas by two University of Texas graduates. The company operates 93 locations in five states.[1]

History

Founders Tiffany Taylor and Leon Chen met as sophomores at the University of Texas at Austin. The idea for the company started after Tiffany accidentally stood Leon up for a date. She then delivered an apology in the form of warm cookies she'd just baked.[2]

The company was established in 1999 with an initial manufacturing facility on Sixth Street in Austin.[3] The founders would bake cookies and deliver them warm to dormitories around Austin.[4] The company’s first order was delivered to a woman named “Amy.”[5]

Tiff’s Treats has conducted multiple rounds of financing and received more than $50 million in outside investment since its founding.[6] In 2017, Morgan Stanley Expansion Capital reported that the fund had invested $25 million in the company and taken a seat on the board.[7] In 2018 the company received additional financing from Andy Roddick and Brooklyn Decker.[8] That same year Tiff’s Treats acquired Nashville-based Jake’s Bakes, a company founded by a fellow University of Texas alumnus.[9]

As of 2020, the company was valued at $500 million[10] with major investors including Kendra Scott, Dirk Nowitzki, Brooklyn Decker and Andy Roddick.[11] As of 2022, Tiff's Treats employed 2,000 people with operations in five U.S. states. and 70 retail locations.[10] The Dallas location was the most trafficked.

Tiffany and Leon Chen were married in 2007 [12] and are parents to twins.[4] Their book, It’s Not Just Cookies: Stories and Recipes from the Tiff’s Treats Kitchen was published by Harper Horizon in April 2022.[13]

External links

Notes and References

  1. Web site: 2018-06-11 . Tiff's Treats' Secret Recipe (For Success) . 2022-06-01 . Austin Monthly Magazine . en-US.
  2. Web site: Foster . Tom . 2022-03-18 . In Love, With Business: Lessons From Co-Founder Couples . 2022-06-01 . Inc.com . en.
  3. Web site: 2021-11-23 . Austin homegrown Tiff's Treats hits $500M company value . 2022-06-01 . KXAN Austin . en-US.
  4. Web site: Tiff's Treats: How a sweet love story led to one of Austin's sweetest successes . 2022-06-01 . kvue.com . en-US.
  5. News: Ragas . Lindsey . Tiff's Treats finds their first customer from 22 years ago, rewards her with free cookies . en-US . KEYE . 2022-06-01.
  6. Web site: Wistrom . Brent . November 15, 2017 . Morgan Stanley Invests $25M into Tiff's Treats . 2022-06-01 . www.bizjournals.com.
  7. Web site: Tiff's Treats $25 Million Funding Round Led By Morgan Stanley Expansion Capital . 2022-06-01 . Morgan Stanley Investment Management.
  8. Web site: 2018-06-14 . Tiff's Treats nets tennis-star backing . 2022-06-01 . Nation's Restaurant News . en.
  9. Web site: Dinges . Gary . Tiff's Treats expands to new state, acquires competing chain . 2022-06-01 . Austin American-Statesman . en-US.
  10. Web site: Hawkins . Lori . Tiff's Treats, an Austin success story, is now a $500 million company . 2022-06-01 . Austin American-Statesman . en-US.
  11. Web site: Tiff's Treats attracts high-profile investors . 2022-06-01 . www.foodbusinessnews.net . en.
  12. Web site: Gratton . Robert . November 1, 2013 . Austin Power Couples: The Tiff's Treats duo . 2022-06-01 . www.bizjournals.com.
  13. Web site: CBS-TV Austin . We Are Austin . 2022-03-31 . "It's Not Just Cookies": Tiff's Treats founders chronicle their journey in a new book . 2022-06-01 . KEYE . en.