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Rhode’s $1B Exit, David’s $75M Raise, Solo’s Supplement Play, and BPN’s Ultramarathon Masterclass

Rhode’s $1B Exit, David’s $75M Raise, Solo’s Supplement Play, and BPN’s Ultramarathon Masterclass

Happy Thursday! Big moves this week across beauty, protein, and endurance. Plus we’re gearing up for packed events in NYC, SLC, and beyond. 

Let’s jump in. 

Upcoming Events:

Major Moves in Beauty and CPG This Week:

e.l.f. Acquires Rhode for $1 Billion

Hailey Bieber’s skincare brand, Rhode, has been acquired by e.l.f. Beauty in a $1 billion deal.

  • $800 million upfront (cash and stock)
  • $200 million earn-out over three years
  • Bieber stays on as Chief Creative Officer and Head of Innovation
  • This is e.l.f.’s largest acquisition to date

Why it matters: Rhode, launched in 2022, hit $212 million in sales by early 2025. It’s a sharp example of combining strong DTC execution with cultural influence to build fast-growing brand equity. For e.l.f., it’s a move into the prestige beauty market and a global play.

Takeaway for founders: Celebrity-backed brands can create serious long-term value when paired with real product-market fit and disciplined brand building.

David Protein Raises $75M and Acquires Epogee

David, known for its protein bars, just raised $75 million in Series A funding led by GreenOaks and Valor Equity Partners — and they’re making waves by acquiring Epogee, the manufacturer behind EPG, a fat substitute that reduces calories by 92% without sacrificing taste.

Why it matters: EPG has powered the success of brands like Nick’s (ice cream, protein bars) and is FDA GRAS-certified, GMO-free, gluten-free, allergen-free, vegan, and kosher. David’s acquisition signals either a vertical integration play or an intent to control a key ingredient used by competitors, which has sparked concern among fellow brands.

Takeaway for founders: Securing ownership over unique supply chain components can offer a powerful edge — whether through cost control, differentiation, or new revenue streams from licensing.

What Brands Can Learn from BPN’s Last Man Standing Ultramarathon

This weekend, Bare Performance Nutrition (BPN) hosted the 2025 Last Man Standing Ultramarathon in Texas — a 4.2-mile loop, every hour, until only one runner remains.

After 56 hours and 235 miles, two finalists were declared co-winners when storms shut the race down. Over 17,000 people tuned in live, captivated by two relatively unknown athletes pushing past human limits.

The key marketing lesson:This wasn’t just a race — it was BPN’s brand in motion. Founder Nick Bare has been building content, trust, and community for 15+ years. Events like this work because they tap into authentic connection, not just hype.

For brands, the takeaway is simple:You can’t fake this level of community. It takes time, consistency, and a message people genuinely want to rally around.

Founder Spotlight: Chuch & Matt w/ Solo

What inspired you to start this brand, and what were the first steps you took to bring it to life? I’ve been deep into fitness — weightlifting, CrossFit, running — and over the years I got tired of managing all the different supplements: protein, pre-workout, electrolytes, creatine, collagen… not to mention the cost. One day I realized, “Why am I mixing three separate drinks when I could just have one all-in-one?” That sparked the idea for Solo. I reached out to Matt because he’s super organized, great with numbers, and a longtime friend, and then we pulled together the rest of the team, including reaching out to experts in the supplement space. The first step was validating the idea and then diving into formulation, even though people told us it wasn’t possible. We just kept going.

What sets your product apart in a crowded market? Honestly, it’s the convenience and the taste. Most people expect an all-in-one supplement to taste chalky, artificial, or heavy. But when people try Solo, they’re shocked at how light, smooth, and refreshing it is. We put so much effort into making sure the product was clean, effective, zero sugar, and had no artificial ingredients — all while still tasting great. That combo is rare in the market, and we’re proud of it.

What’s been the biggest challenge so far, and how did you overcome it? The biggest challenge has definitely been formulation. There were moments when we weren’t sure if it was even possible to combine all these supplements effectively — issues like foaming, ingredient sourcing, and finding the right balance. We hit walls, like when we couldn’t source the specific protein we wanted, but I made a list of 50 companies and cold-called them one by one until we found it. It was a ton of trial and error, constant problem-solving, and working with a formulation expert who believed in our vision.

How are you approaching growth in these early stages—what channels or strategies are most important to you? Right now, we’re focused on two main fronts: online sales through Shopify, where we’re running Meta ads and building up our organic social presence, and in-person events. I come from a trade show background, so I know the power of face-to-face interactions. Being at events lets us connect directly with customers, watch their reactions, and improve on the spot. We’re also getting into gyms, CrossFit boxes, and recovery studios, selling both single packets and full bags. It’s all about getting the product in people’s hands and letting the taste and convenience speak for themselves.

One year from now, what does success look like for you and the brand? For me, success isn’t just a revenue number — it’s about building something meaningful. We started Solo because we wanted this product for ourselves, and we believe it can make life easier for busy, fitness-focused people like us. In a year, I want to see new flavors, a non-caffeinated version for recovery, and a dialed-in product that’s become part of people’s daily routines. If we can help a million people simplify their supplement game and improve their performance, that’s success to me.

Full Convo:

Brand & Tech to Watch

Brand: DrinkCourtside — a fresh player in performance hydration.
Tech: HomeFromCollege — the platform helping brands tap into Gen Z talent, at scale.

That’s it for this week — thanks for reading!

If you’ve got a launch, story, or trend you want covered, just hit reply. Always excited to spotlight what’s next.

— Zach

P.S. If you found value in this, consider sharing it with a friend or colleague who's interested in brand building, consumer trends, or the future of retail. And as always, hit reply with any thoughts — I read every message.