A combination of experience and passion enabled Patrick Vihtelic to sell his meal-kit service, Home Chef, to Kroger in 2018.
Editor’s note: The story of Home Chef’s sale is part of a series on Inc. 5000 companies making a big exit. The other articles in the series describe the exit strategies of two other companies: New Belgium Brewing and Nutanix.
- Meal-Kit Maven: Vihtelic founded Chicago-based meal-kit-delivery service Home Chef in 2013. Five years later, the company claimed the No. 3 spot on the Inc. 5000.
- Banker, Coder, Founder: After four years as an investment banker, Vihtelic went to computer coding school so that he could build the first version of the company’s website himself.
- A Multiyear Earn-Out: Kroger, the largest U.S. supermarket chain, acquired Home Chef
Arthur M. Blank, co-founder of The Home Depot, was introduced to the startup life as a kid. His father launched a mail-order pharmacy business out of the one-bedroom apartment the family of four shared in the Sunnyside section of Queens, New York. Four years later, darkness set in when Blank’s father died suddenly. His mother picked up the pieces of both the family and the family business. She plowed ahead and became a successful entrepreneur, ultimately selling the company.
“My mother used to say, ‘make decisions for the right reason and live with the consequences,'” Blank tells Inc. That’s why, for instance, he decided to delay the reopening of the Mountain Sky Guest Ranch, a dude ranch he owns in Montana, even though it typically runs at more than 90 percent occupancy and guests were yearning to return. “We knew that if we opened we would bring disease into the
Terence Conran, a renowned designer and restaurateur credited with modernising British retail and decor, has died aged 88, his family said on Sept 12.
Conran made his name in the 1960s with the Habitat home-furnishing store, known for its contemporary pine furniture, brightly coloured fabrics and tasteful kitchenware which proved a big hit with the public.
He went on to become chairman of the Storehouse Plc retail group which included other well-known British high street shops such as Mothercare and British Home Stores.
Also passionate about food, his first restaurant, The Soup Kitchen, opened in London in 1953, and he went on to open many more in the capital including Le Pont de la Tour, Quaglino’s and Mezzo, with his restaurant interests also ultimately stretching from Paris to New York and Tokyo.
“Terence Conran was instrumental in the redesigning of post-War Britain and his legacy is huge,” said Tim Marlow,
(Bloomberg) — Peloton Interactive Inc. founder John Foley is now a billionaire, thanks to a stunning rally in his home-fitness company’s shares since the pandemic began.
After posting a video to Kickstarter in 2013, Foley, a cycling enthusiast, raised $307,000 to help get his fledgling in-home exercise startup off the ground.
The former e-commerce president at Barnes & Noble wanted to bring the indoor cycling classes like those he was taking at New York boutiques SoulCycle and Flywheel into people’s homes. He had high hopes for Peloton, comparing its approach of creating both hardware and software to Apple Inc. in the Kickstarter video.
But Foley couldn’t have predicted the pandemic seven years later that would shut down gyms and spur a home exercise boom not long after his company’s IPO. Since mid-March, Peloton shares have rallied about 350%, sending Foley’s net worth to $1.3 billion, according to the