Superfoods company Daily Harvest, which already counts Serena Williams and Gwyneth Paltrow as investors, raised a fresh $43 million in funding, and CEO Rachel Drori told Cheddar what she plans to do with the money.
“We are going to invest more in transitional organics,” she said. “By partnering with farmers who are today conventional and saying, ‘Hey, we’ll be along with you for this ride, it takes three years to transition from conventional to organic,’ we can increase the total pie of organic availability, therefore drive prices down.’”
Higher production costs are said to contribute to higher prices for organic foods, which can be hard to access for lower-income consumers. But the sector keeps growing anyway. The Organic Trade Association says that the market grew by $3.7 billion in 2016, making it a $47 billion industry. That drove it to a record 5.3 percent of all U.S. food sales.
Drori said her company differentiates itself by focusing on frozen snacks frozen.
“With our smoothies, you open it up, you see all the whole fruits and vegetables,” she said. “You fill it with liquid, you pop it in your blender. Then 30 seconds later you have something that was developed by a chef and a nutritionist.”
Daily Harvest’s latest round, led by Cheddar investor Lightspeed Venture Partners, also includes celebrity chef Bobby Flay and actress Haley Duff.
For full interview [click here](https://cheddar.com/videos/daily-harvest-raises-43-million).
Learning about money is a skill that should be learned at an early age. OneMain Financial is now offering a financial course called 'Credit Worthy' across several high schools across the country, along with some scholarships. Doug Shulman, CEO of OneMain Financial, joined Cheddar News to discuss the importance of learning and understanding credit. "Over half of high school students graduate without knowing the basics about credit," Schulman said. "It really helps establish a great foundation to being an independent adult, to have a healthy and happy life, and some financial security is part of that."
Mariah Carey is facing a second lawsuit claiming copyright infringement over her song, "All I Want For Christmas is You."
Apple posted better-than-expected results for the third quarter but continued to report soft revenue. Cheddar News breaks it all down.
Thousands of hospitality workers across 18 casinos in Las Vegas have announced they are set to strike if a new contract agreement is not reached by Friday, November 10.
Mariah Carey, the 'Queen of Christmas,' is teaming up with Victoria's Secret for a new holiday collection.
Stocks jumped Friday after a jobs report showed a higher slowdown in hiring, giving hope to an end in rate hikes.
A new study found greater productivity in companies with a higher gender balance.
Apple posted better-than-expected profit and revenue in the latest quarter but said sales dropped for the fourth straight quarter, including a drop in revenue for iPads and iMacs.
The Federal Trade Commission is accusing Amazon of using an algorithm to raise prices for some of its products, thereby causing other shopping sites to do the same.
The Labor Department reported the U.S. economy added 150,000 jobs in October, down from an adjusted 297,000 jobs added in September.
