Barry Nalebuff and Seth Goldman ’95 on the Growth of Honest Tea
"We want to be the first mainstream organic beverage," explained Seth Goldman ’95 in a New York Times interview about Honest Tea, the socially responsible purveyor of no sugar and "tad sweet" organic beverages he cofounded with Professor Barry Nalebuff.
The New York Times article is one of a series of recent high-profile media stories chronicling the success and growth of the company. Interviews with Goldman and Nalebuff have also appeared in Fortune and the Wall Street Journal.
Since Honest Tea's launch in 1998, the company has expanded from bottled teas to new brands like Honest Ade and Honest Kids. In 2008, the Coca-Cola Company purchased a 40% stake in Honest Tea for $43 million with an option to buy the company outright next year. Through the deal, Honest Tea has landed on more store shelves — a benefit of having access to Coca-Cola's vast distribution network — while retaining control of its products and mission.