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Stranger Things actor wants to get rich off tbh, his vegan alternative to Nutella • CableFree TV

Actor Noah Schnapp, who played Will in the hit Netflix original series. very strange thingspassionate about tbh, a company he co-founded that aims to “reinvent” Nutella’s hazelnut and cocoa spread.

And now Schnapp is turning into an investment platform Republic to give their fans and the masses the opportunity to invest in the company behind the Nutella alternative for as little as $50.

The actor helped start TBCh a year ago and now works together with the co-founders and co-CEOs Elena Huberman and founder of UMANA (and investor) Ba Minuzzi with a serious goal: to offer consumers a less sweet and generally healthier alternative to one of his favorite childhood snacks, Nutella.

Tbh, as advertised by the company, contains 50% less sugar and 3 times more protein – 6 grams of peas – than its nostalgic counterpart. Also important, according to Schnapp, is what it doesn’t contain: palm oil, an edible vegetable oil that some consider harmful. harmful to the environment. In the same vein, the company is also partnering with packaging companies, which it says are “reducing their carbon footprint” to ensure it is “keeping the environment in mind in the supply chain.” Tbh is slang for “be honest,” which the company touts with its cleaner offering.

Image credits: TBCh

One might wonder why Schnapp, with a reported $250,000 per episode salary in the final season of Stranger Things, turned to crowdfunding to help fund a business when he could just as easily start or secure venture capital funding. Running crowdfunding campaign for tbh, Schnapp told TechCrunch, he aims to “empower” a new generation of investors and help encourage them to learn about investing in the private sector.

For the unfamiliar, Republic is a New York-based fintech company that provides access to investments in private market shares, debt, or crypto offerings. through your retail platform.

“My fans are obviously very supportive of me, and whenever I do something with this campaign, we share it like we keep a diary,” Schnapp, who serves as chief director of snacks, told TechCrunch. “They will love it and support it, and I think it’s a great educational opportunity for them – and for me.”

The $50 minimum investment, considered the lowest ever on the Republic platform, is designed to lower the barrier to investment, said Guberman, co-founder and co-CEO of tbh.

“Many Noah worshipers are young; this is our way to share the benefits and educate his audience about investing, not just delivering a product,” she said. “We are building a strong community.”

Schnapp agreed, telling TechCrunch in an interview, “The beauty of this low ceiling is that it allows anyone to invest in tbh. It does not exclude anyone based on their socioeconomic status or anything else. And I think it’s beautiful.”

Depending on how much they invest, shareholders get access to various benefits.

For example, those who invest $50 receive an invitation to the annual tbh investor call. A limited number of those who invest $550 will receive an invitation to tbh’s annual investor meeting, a lifetime 15% discount on tbh (including product and merch), tbh’s new product “information” before launch, and a five-minute meeting with Schnapp. myself. The $7,500 donation unsurprisingly translates into perks, including dinner with the tbh team and a schnapp in New York, Los Angeles, or Miami (travel not included).

Do the actor and his team hope to capitalize on his popularity and influencer status? Undoubtedly. The 18-year-old has 27.5 million followers. Instagram and along with most of the cast, the show became a sensation when Stranger Things went viral – despite being quite bloody – with both young people and adults.

BUT quick internet search shows that the spread has quite positive reviews, some describe it as “delicious” with a “smooth texture”. The biggest complaints were about its high price. You can buy a 14 oz can of the product at Amazon for $11.39. In contrast, 13 oz. A jar of Nutella sells for $3.74. However, tbh, which is available online and in more than 100 West Coast stores, generated $550,000 in revenue in its first 10 months. Tbh says it is “in talks” with Whole Foods to place its spread on the retailer’s shelves.

The capital raise in Republic, which will be capped at $1.235 million, will go towards expanding the retail network of existing tbh products, releasing single-use packaging on the go, and expanding the product line.

Interestingly, the tbh concept was actually born a couple of years ago after Schnapp met Minuzza in her effort to find celebrities who agreed with her mission to build companies “with the mantra of doing good for the world and for consumers.” The couple came up with the idea for tbh as Schnapp loved Nutella and they wanted to create a healthier snack for people. Huberman was later recruited for her extensive experience with CPG.

For Schnapp, tbh represents the start of a successful career outside of acting, he hopes. This fall, the actor began studying entrepreneurship at the Wharton School of Business at the University of Pennsylvania and recently joined. Penn Undergraduate Capital Partnersstudent venture organization.

“I can definitely imagine launching a venture fund next year,” Schnapp told TechCrunch. “And I think it’s very exciting to just do all of that. Like, I have acting, and I know what to expect there. But it’s just another world that I’m very interested in exploring.”

By Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org