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tbh’s deadline was January 21, 2023

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tbh

The most delicious snack on the planet is now vegan, clean & sustainable
B2C Food Women Founders Ethically Made Plant-Based
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$591,844
Raised
950
Investors
Successfully funded and closed on January 21, 2023.
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Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Impact Funding Founders
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Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Schnacks LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
tbh Crowd SAFE Snacktbh Form C.pdf
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Hear from some of the 950 investors in tbh


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Highlights


$1M+ raised
Company has previously raised over $1M in capital
$500K+ revenue
Company had over $500K in revenue in the past 12 months
Notable angel backing
Company is backed by a notable angel investor
Venture-backed
Company is backed by a venture capital firm
  • Nostalgic snacking that’s better for you and better for the planet
  • Co-founded by Stranger Things actor and entrepreneur, Noah Schnapp
  • $550k in revenue over the first 10 months
  • 160k followers on IG, 190k followers on TikTok with over 20M views
  • Growth of 56-145% quarterly in 2022
  • In 100+ stores on the West Coast; in conversations with Whole Foods
  • Raising capital to fund On-the-Go single serves & portfolio expansion

Problem


The snacks we've been eating for generations are outdated!

They are high in sugar content, and filled with ingredients that leave us and the planet worse off.

The leading hazelnut spread is more than half sugar, which is sabotaging our health. Even though it’s delicious, sugar is linked to obesity, cardiovascular disease, cardiac arrest, and diabetes. 

Palm oil is the second ingredient in the market leader's spread. It’s also one of the leading causes of deforestation and lost orangutan habitat around the world. Even sustainable palm oil lacks credibility, as its members continue to be exposed for violations.

Why are we still buying products that are knowingly bad for both our bodies and the greater environment? We have not recreated our favorite snacks from generations back.

Solution


A guilt-free hazelnut cocoa spread that tastes too good to be true

The most delicious snack on the
planet is now vegan, honest and planet conscious.

tbh reimagined the familiar taste we’ve always loved but without the bad stuff. Our first product launched in 2021 - a hazelnut cocoa spread that has no palm oil,  50% less sugar than Nutella, and 3x the protein to give you more of the good stuff.

Product


Meet your new
favorite spread

It has more of the good stuff, less of the bad stuff, and tastes absolutely amazing.

Your browser does not support HTML5 videoHazelnuts are the first ingredient, then we add organic cane sugar to sweeten. Pea protein is mixed in to boost protein to 6g per serving. We're always vegan and never use palm oil.


The future of tbh


A tbh "on-the-go" option has been highly requested — by our Gen Z consumers running to and from class; by athletes, hikers, parents, and more. We are anticipating this offering to launch in early 2023, and this Republic campaign will help us reach that milestone. 

While consumers want tbh in a smaller quantity, we have restaurants who want tbh in a way larger quantity. So we worked alongside our manufacturing partner to create tbh food service buckets in August 2022, which we anticipate will become 20% of our business in 2023.


Collaborations


tbh tastes great by itself, but we LOVE collaborating with other brands to increase awareness (and replace the other guys). In 2022, we’ve created tbh macaroons, tbh adaptogen cookies, tbh XXL cookies, tbh milkshakes and tbh uncrustables. Next year, we have more surprises up our sleeve to continue exploring new demographics, tastes and customer profiles.   

 

Traction


We've caught
the world's attention

tbh launched to a lot of excitement across the globe. Noah’s fans became immediate supporters of tbh, waiting in line from 8am at our meet and greet. 

Since then, we’ve grown to over 350K followers in just under 11 months. We have leveraged that platform to build heavy community involvement and high customer satisfaction, which we see through our growing email and sms subscriber list (27K active subscribers) and our above average DTC returning customer rate (32%). Direct to consumer is currently 80% of our business as we strategically expand.  


Fast deliveries


Fast delivery platforms like Gopuff and Getir both offer tbh for delivery in minutes across the United States — including NYC, Chicago, Nashville, Houston, Los Angeles, Santa Fe and Seattle. We are live on Amazon, available on Prime, and are a part of the Amazon Launchpad program.


 tbh in retail


tbh is currently available in 100+ retail stores on the West Coast, including Erewhon, Mother’s Market, Jensen’s, and Fred Meyer. We are in conversations with Whole Foods, Target, Sprout’s, Wegman’s and more for 2023, when retail will become our primary focus and grow to 60% of our revenue.

Customers


Our customers
are our #1 fans!

In the last year, we’ve built an excited and loud community. They are thrilled to have an alternative that tastes AMAZING ... and thrilled that Noah is paving a delicious, mission-driven path!

We have over 500 reviews on our website at 5 stars, and are ranked #1 Best Release on Amazon at launch, currently with over 600 reviews. We love that our customers love us, and are excited to welcome them as repeat customers into our community. 

Our DTC subscriber list is currently at 250 customers, who are the first to know about new products, merch, or activations. Our repeat customer rate is 32%, demonstrating that once people try tbh, there’s no going back! On Amazon, our subscriber community is almost 1,000 customers in just 6 months, growing at 14% each month.


Customer profiles


We have several strong customer profiles that we have established from almost a year of digital data. The millennial parent or pantry buyer is our number one consumer, making up 70% of D2C sales. We've given them a reason to swap their old spread for us because not only is it better for them and their kids, but it tastes just as good, if not better. 

Vegans were excited for tbh, since Nutella is not vegan and they’ve missed the taste. We are happy to finally give them a vegan alternative that doesn’t sacrifice taste! 

Gen Z is a powerful demographic for our brand and will only continue to grow. They represent 40% of all American consumers and is estimated to wield $143 billion in spending power. 82% of parents say their Gen Z children influencer household spending and 78% of Gen Z's spend the majority of their discretionary cash on food.

Business model


tbh uses community to test, partnerships to scale, and retail to grow

Our digitally native launch set the tone for a rapid retail expansion strategy while establishing deep rooted community values.

We are committed to getting snacks to our customers in the US, through our website, Amazon, fast delivery platforms in retail and through food service. Our blended margins are 63%, and we will only improve this with economies of scale. 

We work with a US-based manufacturing partner to continue producing tbh to fill demand across all form factors (including single serve and food service buckets). They are open to doing R&D with us as part of this partnership. We are their only vegan, palm oil free product.

Our community is not only strong in the US, but also globally in Brazil, France and Turkey. We would like to expand to those regions in the coming years. Our manufacturer has a facility in Europe to facilitate the process. 

Market


Snacking is on the rise

Increasing demand for natural and healthy spreads and consumer preferences for artisan bakery products are accelerating the growth of the food spread market across the globe. The Nut Spreads category is estimated to hold $115M SOM (Serviceable Obtainable Market) by year 5. 

While the nut-spread market is huge, the better-for-you snacking market is MASSIVE. 

Brands just like ours are emerging ...and they are winning BIG!

Competition


How we stack up
against the classics

Our priority is to recreate the flavor you know and love, with high quality ingredients that are better for you and for the planet.


We do not use palm oil and are vegan, while our competitors aren't checking off both those boxes. We have three (3) times as much protein as the other guys and 50% less sugar than the market leader. Overall, we keep the taste you love without the guilt!

Vision and strategy


Let's spread the good stuff

Your browser does not support HTML5 video.

Consumers shouldn't have to choose between their (or the planet's) health and great taste. And we don't force them to! The strategy here is simple; do good by creating a better snack brand. Our goal is to create a trusted brand for nostalgic snacks. tbh’s sweet spot is being a bright light for consumers on the journey of swapping their nostalgic favorites for better-for-you alternatives. 

Our vision is to create a portfolio of absolutely mouth-watering nostalgic snacks that remind us of home. The spread is our hero product, and we intend to launch several size varieties — including an On-the-Go size — in addition to our jar. Long term, we will grow the products to include a tbh Hot Chocolate, tbh Bar and tbh Bites. We sell online, into retail and through food service and restaurants. We are starting in the U.S. but see the international market as a huge opportunity.  


Timeline


In the years ahead, tbh plans to roll out at least one new delicious product every 18 months, one highly anticipated collab every 6 months, and build a global community of customers and supporters.

Impact


An honest
commitment to do better


We started tbh with a vision to do things better. We did it and we'll keep at it, because meaningful change is a long game.

Above all, we strive to be transparent and direct. And to be honest, sometimes the supply chain is a challenge when it comes to sustainable standards. We are moving against the grain to give you the snackable goodness that you deserve, something that is better for you and the planet. We are beyond proud of the product we are putting into the world—but we've also got big plans to make incremental improvements as we go.

Our aspiration is to encourage and enforce practices that will make a more sustainable supply chain the status quo. But it takes more than aspiration. It takes action. This means reinvesting in our values to eliminate plastic packaging, localize shipping throughout our supply chain and using less material waste through the entire production process. Those are our goals; and we are so grateful to have you along for the ride.


Certifications


We are currently in the process of obtaining the official verification for Non-GMO, Vegan and Gluten Free.


Core values


Honesty & Transparency

It’s part of the name for a reason. We want to be transparent about the product, our process and upfront. This means being clear about our ingredients, and what eco steps we take instead of greenwashing.

Doing Good & Feeling Good

More than a snack brand, tbh wants to create positive change in people’s pantries, homes, lives and for the planet. 

Curiosity & Humility

We don’t pretend to know it all, we approach everything with humility and an optimistic attitude.

Funding


The leaders making honest snacking happen

tbh has raised through prominent investors and industry leaders including Eric Skae (CEO of Carbone), Dan Doll and David S (Soapbox, Bushwick Kitchen, Aleta) and renowned VC funds supporting the future of food like Idea Farm Ventures, Vibrant VC, Sandbox Ventures and Trousdale Ventures. 

Our incredible advisors include Peter Rahal (RX Bar, Litani Ventures), Ryan Bethencourt (Wild Earth) and industry experts like Monica Colye (Whole Foods).

We have an incredible journey ahead of us. Our team would love for you to join us in supporting a future of what snacking should be. 

Founders


The people
behind the spread


Celebrity Founder


Noah Schnapp 
Co-Founder & Chief Snacking Officer

Through his online influence, Noah will connect with Gen Z and help redefine healthy snacking habits.




CPG & VC Experienced Founders


Elena Guberman 
Co-Founder & Co-CEO

Through her vast CPG experience, Elena has built a small but mighty team at tbh that is working towards a better future for the snacking industry.



Bá Minuzzi
Co-Founder & Co-CEO 

Ba Minuzzi, founder & CEO of UMANA, is a self-made entrepreneur who leads conscious investing and wealth management for high-net-worth celebrity clients. With UMANA, Ba is redefining wealth through purpose-driven efforts that will create a legacy for the next generation.

Deal terms


Valuation cap

$15,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Minimum investment

$50

The smallest investment amount that tbh is accepting.
Learn more

Maximum investment

$250,000

The largest investment amount that tbh is accepting.
Learn more

Funding goal

$1.24M

The maximum amount the offering can raise is $1.24M.
Learn more

Deadline
tbh needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

Nominee Lead

Co-Chief Executive Officer of the Company (currently Elena Guberman)

Will direct the Nominee on certain matters like voting, amendments and conversions affecting the security.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Schnacks LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
tbh Crowd SAFE Snacktbh Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in tbh.
Invest
$50
Receive
  • Invite to annual tbh investor call
Invest
$100
Receive
  • Invite to annual tbh investor call, 10% off tbh for life (including product and merch)
Invest
$250
Receive
  • Invite to annual tbh investor call, 10% off tbh for life (including product and merch), insight into new tbh pre-launch products
53 investors
Invest
$375
Receive
  • Invite to Invite to annual tbh investor call, 15% off tbh for life (including product and merch), insights into new tbh pre-launch products, shout out in a thank you video from Noah
  • Limited (22 left of 75)
Invest
$500
Receive
  • Invite to annual tbh investor call, 15% off tbh for life (including product and merch), insights into new tbh pre-launch products, 4pk of tbh (shipping worldwide)
32 investors
Invest
$550
Receive
  • Invite to annual tbh investor call 15% off tbh for life (including product and merch), insights into new tbh pre-launch products, 5 min call with Noah
  • Limited (1 left of 33)
35 investors
Invest
$1,000
Receive
  • Invite to annual tbh investor call, 15% off tbh for life (including product and merch), insights into new tbh pre-launch products, 4pk of tbh (shipping worldwide)
  • Limited (115 left of 150)
17 investors
Invest
$1,250
Receive
  • Invite to annual tbh investor call, 15% off tbh for life (including product and merch), insights into new tbh pre-launch products, 5 min call with Noah
  • Limited (18 left of 35)
Invest
$2,500
Receive
  • Invite to annual tbh investor call, 15% off tbh for life (including product and merch), samples of new tbh pre-launch products
Invest
$5,000
Receive
  • Invite to annual tbh investor call, 20% off tbh for life (including product and merch), samples of new tbh pre-launch products
4 investors
Invest
$7,500
Receive
  • Invite to annual tbh investor call, 20% off tbh for life (including product and merch), samples of new tbh pre-launch products, Snack Society hoodie, dinner with tbh team and Noah in either NYC, LA, or Miami (travel not included)
  • Limited (26 left of 30)
1 investor
Invest
$10,000
Receive
  • Invite to annual tbh investor call, 20% off tbh for life (including product and merch), samples of new tbh pre-launch products, Snack Society hoodie, dinner with tbh team and Noah in either NYC, LA, or Miami (travel not included)
  • Limited (29 left of 30)
Invest
$15,000
Receive
  • Invite to annual tbh investor call, 25% off tbh for life (including product and merch), samples of new tbh pre-launch products, Snack Society merch set
Invest
$20,000
Receive
  • Invite to annual tbh investor call, 25% off tbh for life (including product and merch), samples of new tbh pre-launch products, Snack Society set
2 investors
Invest
$25,000
Receive
  • Invite to annual tbh investor call, 25% off tbh for life (including product and merch), samples of new tbh pre-launch products, Snack Society set, dinner with tbh team and Noah (flight included, US only)
  • Limited (3 left of 5)

About tbh

Legal Name
Schnacks LLC
Founded
Jun 2020
Form
Delaware LLC
Employees
1
Website
snacktbh.com
Social Media
Headquarters
Google Map location of of tbh
366 Broome , New York, NY
Headquarters
366 Broome, New York, NY, United States 10013

tbh Team
Everyone helping build tbh, not limited to employees

Profile picture of Noah Schnapp
Noah Schnapp
Co-Founder & Chief Snacking Officer
Profile picture of Elena Guberman
Elena Guberman
Co-Founder & Co-CEO
Profile picture of Bá Minuzzi
Bá Minuzzi
Co-Founder & Co-CEO
Profile picture of Ilana Wayne
Ilana Wayne
Head of Marketing & Creative
Profile picture of Avery Primis
Avery Primis
Digital Marketing and Community Manager
Profile picture of Don Richardson
Don Richardson
Head of Sales
Profile picture of Ben Petraglia
Ben Petraglia
Digital & Performance Marketing
Profile picture of Mo Mostashari
Mo Mostashari
Advisor // ICM, AMIBA Consultingi
Profile picture of Peter Rahal
Peter Rahal
Advisor // Rx Bar, Litani
Profile picture of Monika Coyle
Monika Coyle
Advisor // Whole Foods
Profile picture of Ryan Bethencourt
Ryan Bethencourt
Advisor // Indie Bio, X Prize, Babel Ventures
Profile picture of Alex  Matthews
Alex Matthews
Advisor // HERE Studio, De la Calle, Vina
Profile picture of Adrain Grenier
Adrain Grenier
Advisor // DuContra Ventures
13 more team members
Noah Schnapp
Co-Founder & Chief Snacking Officer
Elena Guberman
Co-Founder & Co-CEO
Bá Minuzzi
Co-Founder & Co-CEO
Ilana Wayne
Head of Marketing & Creative
Avery Primis
Digital Marketing and Community Manager
Don Richardson
Head of Sales
Ben Petraglia
Digital & Performance Marketing
Mo Mostashari
Advisor // ICM, AMIBA Consultingi
Peter Rahal
Advisor // Rx Bar, Litani
Monika Coyle
Advisor // Whole Foods
Ryan Bethencourt
Advisor // Indie Bio, X Prize, Babel Ventures
Alex Matthews
Advisor // HERE Studio, De la Calle, Vina
Adrain Grenier
Advisor // DuContra Ventures

Press

Our Honest Review of Noah Schnapp's tbh Hazelnut Cocoa Sp...
Let's Eat Cake
·
Aug 23, 2022

Nutella was *the* breakfast food of the millenium. Kids loved it, you could put it on anything, and it had a fancy Europe...

"Stranger Things" Star Noah Schnapp Has His Own Vegan Haz...
BuzzFeed
·
Jul 23, 2022

With the massive debut of Stranger Things Season 4 this summer, Noah Schnapp has been plunged into the limelight more tha...

12 Healthy Snacks You May Just Want To *Add To Cart*
BuzzFeed
·
Mar 22, 2022

Of everything I tried, here are my top three favs: 1. tbh Hazelnut Cocoa Spread: It's DELICIOUS with strawberries and ban...

There's a New Palm Oil-Free Alternative to Nutella | Hunker
Hunker
·
Oct 30, 2021

Known for its creamy texture and chocolatey flavor, Nutella might be one of the most beloved spreads on the market. The o...

Netflix star launches food brand
Foodbusinessnews
·
Oct 28, 2021

NEW YORK - Noah Schnapp, an actor on Netflix's "Stranger Things" series, is the founder of a new food brand taking on Nut...

'Stranger Things' Noah Schnapp Just Launched Vegan Nutella
VegNews.com
·
Oct 26, 2021

Actor Noah Schnapp-known for his role as Will Byers on Netflix series Stranger Things -is launching a vegan version of Nu...

'Stranger Things' Actor Noah Schnapp Takes On Nutella Wit...
Forbes
·
Oct 25, 2021

TBH (To Be Honest), a new sustainability-focused snacking brand that promises more protein and hazelnut than Nutella, and...

TBH Reviews 2022 - Read Before You Buy | Thingtesting
Thingtesting

tasty, and made for a great gift for the nutella/chocolate-lover in my life! As a huge Nutella enthusiast, I was a bit sk...

TBH Is A New Snacking Company Full Of Honesty
Thedieline Thedieline

Chloe is based out of sweet home, Alabama. While she's a writer by trade, she struggles to write her own bio. All you nee...

Show all
Logo of tbh

tbh

tbh successfully raised $591,845 from 950 investors on January 21, 2023
Profile picture of Adam Goldberg
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Profile picture of Karyne Moreno de Souza Cruz
Adam, Jesse, Courtney, Cuong, Karyne, and 945 others invested. 147 Reviews
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