# #161 - Emerging CPG Valuations: Ryan Williams, FABID

- Show: [The Startup CPG Podcast](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast)
- Published: 2024-09-17
- Length: 48m
- Episode: 75
- Page: https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2024-09-17-161-emerging-cpg-valuations-ryan-williams-fabid
- Listen: https://share.transistor.fm/s/bf02cd86

## Summary

Ryan Williams, founder of FABID (Food and Beverage Investment Database) and former CFO at RISE Brewing Co., discusses the current state of CPG valuations and fundraising. He explains that median valuations for early-stage startups have dropped from $5 million to $2.5 million due to a tightening venture capital environment and a shift toward later-stage investments. Williams advises founders to target family offices and angel investors from non-CPG industries, such as tech or real estate, who are less jaded by recent market failures. He also highlights specific recent raises, including those for Voyage Foods, Athletic Brewing, and Not Beer, while warning against using failed companies as comparable benchmarks in pitch decks.

## Outline

1. Introduction: Ryan Williams and FABID
2. Valuation Multiples and the Anchor Value Concept
3. The Shift in VC Funding and Fund Sizes
4. Profitability vs. Growth and Capital Efficiency
5. Targeting Non-CPG Angels and Family Offices
6. Diversity in CPG Funding and Data Tracking
7. Recent Notable Raises: Voyage, Athletic, and Not Beer
8. Pitch Deck Strategy and Comparable Companies

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Marketing & brand](https://hardwarepodcasts.com/topic/marketing-and-brand)
- [Hiring & workforce](https://hardwarepodcasts.com/topic/hiring-and-workforce)

## Most relevant to

early-stage companies, companies scaling up

## Mentioned

- FABID (company)
- RISE Brewing Co. (company)
- Houlihan Lokey (company)
- Pretzel Crisps (product)
- Voyage Foods (company)
- Athletic Brewing (company)
- General Atlantic (company)
- Not Beer (product)
- Liquid Death (product)
- Campbell's (company)
- Crunchbase (tool)
- Pitchbook (tool)
- BevNet (company)
- AgFunder (company)
- Key (company)
- Holy Water (product)
- Gaywater (product)
- Kali Power (company)

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- [290 - Taylor Foxman is the master connector for CPG's!](https://hardwarepodcasts.com/podcast/people-of-packaging/2024-09-26-290-taylor-foxman-is-the-master-connector-for-cpgs) (People of Packaging)
- [Advice Line with Ariel Kaye of Parachute Home](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-08-29-advice-line-with-ariel-kaye-of-parachute-home) (How I Built This)
- [Happy Family Organics: Shazi Visram (2020)](https://hardwarepodcasts.com/podcast/how-i-built-this/2022-07-04-happy-family-organics-shazi-visram-2020) (How I Built This)
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## Citing this page

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