Bulletproof raises $13M to fuel growth of ‘high performance’ food and beverage products

(Bulletproof Photo)

Bulletproof 360, makers of food and beverage items designed to fuel a healthier lifestyle, has raised $13 million in a new funding round, the Seattle-area company announced Wednesday.

The round was led by Beliv, Rocana Ventures and existing investors CAVU Venture Partners and Trinity Ventures. The company, founded in 2014 by tech veteran Dave Asprey, has raised more than $80 million to date.

Asprey stepped down as CEO of the company last fall after leading Bulletproof’s growth, which saw it land its products in retail locations across the U.S.

In the midst of the coronavirus pandemic, Bulletproof said in a news release that consumers are increasingly looking for products to boost health optimization, including in the areas of immunity, energy, stress relief and sleep. Along with its signature coffee line — including beverages infused with grass-fed butter and energy-producing Brain Octane oil — Bulletproof’s portfolio includes collagen proteins and assorted supplements.

CEO Larry Bodner said in a statement that the new investment would fuel continued growth, including expansion of product offerings in both new and existing categories. Bodner, previously a CFO at Big Heart Pet Brands and Sovos Brands, took over in September 2019.

Bulletproof previously operated a cafe in Seattle’s South Lake Union neighborhood, but it closed this spring so the company could focus on the core business. One Bulletproof cafe is still operational in Santa Monica, Calif.

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Amazon increases its market cap by $600B in 2020 — and analysts predict even more growth

An Amazon billboard in New York City. (GeekWire Photo / Taylor Soper)

After Amazon shares dipped slightly last week, the stock was up 6% Monday as new reports project even more growth ahead for the Seattle e-commerce giant.

Amazon has become one of the top beneficiaries of social distancing mandates amid the COVID-19 pandemic as more people rely on its online store, cloud computing services, digital media offerings, and more amid the pandemic.

Shares are up more than 60% this year, while Amazon has grown its market capitalization by more than $600 billion in 2020 alone. The company is currently valued at more than $1.5 trillion, with shares trading around $3,150 on Monday.

Jefferies on Sunday increased its 12-month price target for Amazon to $3,800. The firm noted that a second coronavirus wave “could drive another surge in online consumption.” A recent consumer survey also shows a majority of shoppers spending more online, even after the pandemic ends.

“Our updated analysis of various data points continues to support there being a permanent change in behavior that will provide a long-term tailwind to online consumption,” the report noted.

Jefferies said Amazon continues gaining market share “by reducing friction for shoppers (better selection, product availability, convenience)” and said investment in Amazon Web Services, content, and fulfillment “supports expansion into new products, services and geographies with huge potential.”

Goldman Sachs also increased its price target to $3,800 on Monday.

Amazon will report its second quarter earnings next week. Analysts note that there is some uncertainty with Amazon’s margins due to its decision to spend heavily over the past several months. The company said previously it is spending about $4 billion on expenses related to the pandemic, including pay increases and safety measures to protect employees inside warehouses where workers have tested positive for the virus.

“Providing for customers and protecting employees as this crisis continues for more months is going to take skill, humility, invention, and money. If you’re a shareowner in Amazon, you may want to take a seat, because we’re not thinking small,” Amazon CEO Jeff Bezos said in a lengthy statement as part of the company’s most recent quarterly earnings report.

Amazon’s soaring share price has increased Bezos’ net worth to more than $176 billion, a new record that pushes his financial wealth back above its levels prior to his divorce settlement last year, according to the Bloomberg Billionaires Index.

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