Limited Cookie Offering Yields a Waiting List ![]() Every single person gets the exact same box with the same cookies.Last Crumb, a luxury cookies startup, announced it raised seed business funding in a round led by angel investors from the consumer packaged goods (CPG) and entertainment business industries. "So it doesn't matter if you're Kim Kardashian or me or you, or like someone who bought a box on a drop. "It's really important for us that there's one experience for everyone," Jung said. The cookies are commonly named after celebrities like Madonna, common sayings like "When Life Gives You Lemons," or the company's own spin on sexual euphemisms, such as " Netflix and Crunch." Last Crumb cookies cost customers $140 for a box of 12 - or about $12 a cookie, which is more than its closest competitors'. "I think that's one thing that's really interesting about Last Crumb." "But you know, their own way is, we're going to do it, how we want to do it, and we're going to release however many boxes we want per week and we're going to keep selling out and we're going to keep building demand," he said. Sharma acknowledged that some investors might question Last Crumb's strategy not to make more cookies if the demand is there. Many fans have done unboxing videos on social media of Last Crumb packages. Adopting a "drop" strategy has added to the growing hype for the product as social-media users flock to sign up for a chance to buy one of Last Crumb's 12 flavors of cookies. Last Crumb has amassed a following of 135,000 users on TikTok and 97,000 followers on Instagram. While new seed funding will go toward building up the startup's sales and marketing divisions, Last Crumb has developed its customer base organically, without paying for any outside marketing, Jung said. "There's an audience that's really excited to buy or, or even get the opportunity to buy, and that audience just keeps growing." It's very much like a Supreme or a clothing brand that has drops," he said. Despite uncertain economic times, he still says Last Crumb is "underpriced as to where it's going to be in five years." Nik Sharma, an angel investor who is the CEO of Sharma Brands, funded both of Last Crumb's early seed rounds, including the startup's $1 million raise last September. ![]() The brand has served customers in the high tens of thousands since launching in August 2020. More than 200,000 people have signed up for Last Crumb's email list for an opportunity to purchase cookies, the company told Insider. While the high-end-cookie competitors Crumbl Cookies, Insomnia Cookies, and Levain Bakery offer delivery through third-party marketplaces and have brick-and-mortar locations in the US, Last Crumb relies on exclusive weekly releases on its website - akin to hyped luxury streetwear, shoes, or collectibles drops. "If we can be that one moment, then there's still a massive opportunity for us to grow the brand and continue to build. "Everyone, no matter the economic time, wants an escape sometimes and wants to indulge," CEO Matthew Jung said. Other investors in the round included the new backers Chetrit Ventures, the hospitality veteran David Grutman, and Andrew Rosen, the CEO of the retail brand Theory. This story is available exclusively to Business InsiderĪnd start reading now. ![]() ![]() Account icon An icon in the shape of a person's head and shoulders.
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