Food & Bev

Last Crumb’s CEO on the cookie drop company’s winning strategy

Matthew Jung talks drops, social media, and more.
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Last Crumb

· 3 min read

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Who knew selling cookie box drops would be a viable biz? Not Matthew Jung—at least not eight months ago when he joined Last Crumb.

The CEO of the Los Angeles–based cookie company wasn’t sure a drop model was the right move, but after selling “hundreds” of boxes—and notching nearly $1 million in sales in the last four months—it proved to be the right strategy.

  • A box of a dozen cookies sells for $140, and Jung said the company’s weekly drops sell out in as little as 20 seconds. The company’s waitlist numbers 50,000+.

The company’s cofounders, Derek Jaeger and Alana Arnold, brought Jung on to build “the Rolex of cookies.”

  • He previously started his own DTC companies, including men’s self-care brand Sonne, and served as an advisor to DTC medical-scrubs company FITScrubs and apparel retailer Esby.

We spoke to Jung about Last Crumb’s success thus far. Here are a few takeaways from our conversation.

Deciding on the drop model: While Jung was iffy on drops, he said Last Crumb benefitted from not having any preconceived notions around the company’s biz model. They wanted to create an experience selling luxury cookies.

“When people are launching direct-to-consumer things, there’s this misconception that you start with the business model and then everything else works itself out. In our case, it has worked so well because we actually thought about the sales model after we identified all the things that we wanted to be for our customers.”

The social media strategy: Social media has been key to growing Last Crumb, with the company focusing on Instagram and TikTok. The latter, despite finding success now—#LastCrumb has 13.8 million views on TikTok, thanks to being an unboxing fave—was a challenge at first. Both Jung and Last Crumb’s cofounders felt they didn’t have control over the brand.

“What we realized was that, TikTok, the content doesn’t look as good. It’s kind of weird. It has a lot to do with the music that you’re overlaying. It’s like funny videos that people are reposting. From a brand perspective, from my perspective, I feel like this is a total nightmare.”

Landing funding: Jung said Last Crumb was prepared to bootstrap its operation—telling us the company became profitable within three months of hitting the market this year—but ended up raising roughly $1 million in funding earlier this month to grow faster. The money allowed for a much larger kitchen and new hires (it now has 15+ employees).

“For us, we realized that we could build a really cash-flow-positive business, while at the same time, having kind of a slush fund to look to expansion opportunities.”—KM

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