100% that's what they do. There are giant "B2B" coffee distributors that specialize in doing private label and white label coffee like Zoey, Coffeedesk, and Kofio where they'll package it with your brand.
It's the reason these fuckwit companies charge 1.5-2x more than whole bean coffee from a grocery store, there are 2-3 more middle men taking a cut and everyone wants a healthy profit margin.
This is the actual answer to what happened here. Looking at their 2025 financials they're still making money, but they were clearly ridiculously overvalued during the IPO.
It is unfathomable to me that an online coffee company could have an IPO evaluation at three quarters of a billion dollars.
Worst part is they probably but all their coffee from Costco, taint it a bit, and then rebag it at 300% markup.
100% that's what they do. There are giant "B2B" coffee distributors that specialize in doing private label and white label coffee like Zoey, Coffeedesk, and Kofio where they'll package it with your brand.
It's the reason these fuckwit companies charge 1.5-2x more than whole bean coffee from a grocery store, there are 2-3 more middle men taking a cut and everyone wants a healthy profit margin.
This is the actual answer to what happened here. Looking at their 2025 financials they're still making money, but they were clearly ridiculously overvalued during the IPO.
Not even one run by a couple of CIA-involved dudes?
Well no, that seems to be pretty standard.
Launder a shitload of money to your assets through massively overvalued IPOs.
That said, who was buying this shit? Oh, that's right -- our retirement accounts.