What is Magic Spoon Net Worth? Founder and Competitors

Magic Spoon, the game-changer in the cereal world! Founded in 2019 by Gabi Lewis and Greg Sewitz, this New York-based company offers a delightful range of better-for-you cereals.

With flavors like Fruity, Cocoa, and Peanut Butter, Magic Spoon stands out by using high-quality ingredients, zero added sugar, and being gluten-free and keto-friendly.

Backed by celebrity investors like Shakira and Russell Westbrook, Magic Spoon is redefining breakfast with its nutritious and guilt-free cereal options.

Brand Name	Magic Spoon
Founders	Gabi Lewis and Greg Sewitz
Origin	American
Established In	2019
Products	cereal Based Product
Headquarters	117 Hudson Street, New York
Operational Areas	United States
Magic Spoon Net Worth	$120 million (Last Updated August 2023)

Magic Spoon Net Worth

Magic Spoon net worth soars to an impressive $120 million, a testament to its phenomenal growth in the better-for-you cereal market. Founded by Gabi Lewis and Greg Sewitz, the company’s delicious and nutritious cereals, coupled with celebrity endorsements, have catapulted it to remarkable financial success.

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Magic Spoon Founders

Magic Spoon visionary founders are Gabi Lewis and Greg Sewitz. Together, they established the company in 2019, aiming to revolutionize the cereal industry by offering better-for-you options.

With their dedication to quality ingredients and innovative flavors, they have successfully turned Magic Spoon into a thriving and beloved brand.

Magic Spoon History

Magic Spoon, founded in 2019 by Gabi Lewis and Greg Sewitz, is a trailblazing cereal brand that aimed to reimagine the breakfast experience. The co-founders, who had previously ventured into protein bars with limited success, saw an opportunity to create healthier and tastier cereals.

They launched Magic Spoon with a lineup of flavors like Fruity, Cocoa, and Peanut Butter, promising no added sugar, gluten-free, keto-friendly, and high in protein.

Through a direct-to-consumer approach, the company gained rapid traction, attracting a fiercely loyal customer base. The founders’ dedication to innovation and commitment to using premium ingredients soon garnered celebrity endorsements, including from Shakira and Russell Westbrook.

In 2022, Magic Spoon achieved a significant milestone with $85 million in Series B funding, bringing their total funding to $100 million. This capital injection paved the way for the brand’s expansion into brick-and-mortar retail, starting with Target stores.

The success of Magic Spoon has been a testament to its ability to disrupt the cereal industry, offering a guilt-free and wholesome alternative to traditional breakfast options.

Magic Spoon Competitors

Magic Spoon faces competition from several other companies in the healthier cereal and breakfast food market. Some of its key competitors include:

• OffLimits: A company that offers nostalgic cereal flavors with a healthier twist, focusing on natural ingredients and lower sugar content.
• Crispy Fantasy: Specializes in producing natural and organic cereals with unique flavor combinations, catering to health-conscious consumers.
• Kreatures of Habit: A brand known for its innovative oatmeal products, providing wholesome and customizable breakfast options.
• Yishi: Offers a variety of nutritious oatmeal products, emphasizing clean ingredients and sustainable sourcing.
• Other traditional cereal brands that are adapting their offerings to meet the growing demand for healthier and better-for-you breakfast options.

While the competition is fierce, Magic Spoon’s commitment to quality ingredients and innovative flavors has helped it carve out a strong position in the market, gaining a dedicated customer base.

Magic Spoon Products

Magic Spoon offers a range of better-for-you cereal products that are designed to be delicious, nutritious, and guilt-free. Some of their key products include:

• Fruity Cereal: A fruity-flavored cereal that evokes childhood nostalgia without the added sugar and artificial ingredients.
• Cocoa Cereal: A chocolatey cereal delight that satisfies cravings while remaining keto-friendly and gluten-free.
• Peanut Butter Cereal: A nutty and rich cereal option, free from excessive carbs and sugar.
• Cinnamon Cereal: A warm and comforting cereal infused with the delightful taste of cinnamon.
• Frosted Cereal: A classic frosted cereal experience, revamped with a focus on healthier ingredients.
• Blueberry Cereal: A burst of blueberry goodness in each bite, crafted to provide a balanced and nutritious breakfast.
• Honey Nut Cereal: A wholesome take on the beloved honey nut flavor, made without compromising on nutrition.
• Maple Waffle Cereal: A delightful combination of maple and waffle flavors, offering a unique and satisfying cereal experience.

All of Magic Spoon’s cereals are high in protein, low in carbs, gluten-free, and keto-friendly, making them an excellent choice for health-conscious individuals seeking a tasty and nutritious breakfast option.

Magic Spoon Investors

Magic Spoon has received significant investment from various sources. Some of the notable investors include:

• HighPost Capital: The leading investor in Magic Spoon’s Series B funding round, contributing to the company’s substantial growth.
• Siddhi Capital: Another prominent participant in the Series B funding round, supporting Magic Spoon’s expansion into the retail market.
• Coefficient Capital: A venture capital firm that backed Magic Spoon, helping to fuel its success in the better-for-you cereal market.
• Constellation Capital: A contributor to the Series B funding, supporting Magic Spoon’s mission to offer healthier cereal options.
• Carter Comstock: An investor who believed in Magic Spoon’s vision and contributed to the company’s growth.
• Celebrity Investors: Magic Spoon also attracted investments from a range of well-known celebrities, including Shakira, Russell Westbrook, Halsey, The Chainsmokers, Amy Schumer, Odell Beckham Jr., and Nas.

These investors’ financial support has played a vital role in Magic Spoon’s journey, enabling the company to expand its product offerings, reach more customers, and establish a strong presence in the market.

Magic Spoon Achievements

Magic Spoon has achieved several significant milestones since its inception in 2019, establishing itself as a prominent player in the cereal industry. Some of its notable achievements include:

• Series B Funding: Magic Spoon secured $85 million in Series B funding, led by HighPost Capital, bringing its total funding to $100 million. This substantial investment reflects the company’s potential and growth trajectory.
• Retail Expansion: After starting as a direct-to-consumer brand, Magic Spoon successfully made its products available on the shelves of Target stores nationwide, expanding its reach to a broader audience.
• Healthier Cereal Options: The company disrupted the traditional cereal market by offering a range of delicious cereals that are gluten-free, keto-friendly, and have no added sugar, satisfying the demand for better-for-you breakfast choices.
• Celebrity Endorsements: Magic Spoon gained attention and credibility through celebrity investments from well-known names like Shakira, Russell Westbrook, Halsey, The Chainsmokers, and others.
• Loyal Customer Base: With over one million customers in just three years, Magic Spoon has garnered a loyal and engaged consumer following, demonstrating the appeal of its products.
• Product Innovation: The brand continually introduces new flavors and limited-edition offerings, expanding its product line beyond traditional cereals to cater to evolving consumer preferences.
• Growing Team: Magic Spoon has expanded its workforce, adding talented individuals across various departments to support its continued growth and customer service.
• Recognition in the Market: Magic Spoon’s commitment to innovation, premium ingredients, and delicious flavors has garnered positive media attention and favorable reviews from consumers and food enthusiasts.

Overall, Magic Spoon’s achievements reflect its success in disrupting the cereal market, providing healthier options, and building a strong brand with a bright future ahead.

Magic Spoon Facts

• Founders: Magic Spoon was founded in 2019 by Gabi Lewis and Greg Sewitz, who are passionate about creating healthier and delicious cereal options.
• Better-for-You Cereals: Magic Spoon is known for its range of better-for-you cereals, which are gluten-free, keto-friendly, and contain no added sugar.
• Variety of Flavors: The company offers a diverse selection of flavors, including Fruity, Cocoa, Peanut Butter, Cinnamon, Frosted, Blueberry, Honey Nut, and Maple Waffle.
• Series B Funding: Magic Spoon raised an impressive $85 million in Series B funding, taking its total funding to $100 million, highlighting its rapid growth and investor confidence.
• Retail Expansion: After gaining popularity through direct-to-consumer sales, Magic Spoon expanded into retail, with its cereals available in Target stores nationwide.
• Celebrity Investors: The company attracted investments from well-known celebrities like Shakira, Russell Westbrook, Halsey, The Chainsmokers, and others, contributing to its success.
• High Protein Content: Magic Spoon’s cereals are high in protein, making them a satisfying and nutritious breakfast option.
• Limited-Edition Products: The brand regularly introduces limited-edition cereal flavors, adding excitement and variety to its product line.
• Loyal Customer Base: Magic Spoon has amassed over one million loyal customers, showcasing the strong appeal of its cereals.
• Health-Conscious Approach: Magic Spoon’s focus on using premium ingredients and eliminating artificial additives resonates with health-conscious consumers seeking better breakfast choices.
• Team Expansion: The company has grown its team to support its rapid expansion, with a focus on logistics, customer service, and growth marketing.
• Recognition and Awards: Magic Spoon has received positive media coverage and recognition for its innovative approach and commitment to providing healthier cereal options.

Overall, Magic Spoon’s facts demonstrate its rapid rise in the cereal industry, providing consumers with a healthier and delightful breakfast experience.

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