1. Lands’ End is exploring a sale. Would you buy it?

Lands' End, the iconic American lifestyle brand, is reportedly exploring a sale. It does ~$1.4B in revenue, is roughly breakeven, and trades at a ~$300M market cap.

That’s just 0.21x revenue.

Could this be a unique platform buy for a private player like L.L. Bean (a similar size, still private), or a licensing firm like Authentic or WHP?

To compare: Ralph Lauren does $6.6B in revenue at 10% net margins, and trades at a $14.4B market cap — over 2x revenue and nearly 20x earnings.

The real question: does Lands’ End have the brand equity and distribution leverage to earn more than liquidation value?

2. When YouTube becomes a $3B kids content empire

Moonbug is one of the most underappreciated roll-up stories in consumer media. Launched in 2018, it acquired Little Baby Bum ($9M), Blippi, and Cocomelon ($120M combined) — three YouTube mega-hits every parent knows.

Moonbug turned digital attention into licensing, Netflix deals, merch, and by 2021 was doing $100M in EBITDA. Exit? $3B to Blackstone’s Candle Media.

Reminder: distribution is leverage — even when it’s a toddler’s screen time.

3. A sweet rebrand that hit

Tyler Merrick launched Project 7 in 2008. Mission-driven and functional, but modest results.

Then came the rebrand.

In 2023, Project 7 became Joyride, with a sharper focus on low-sugar candy. The tipping point? YouTuber Ryan Trahan joined as co-owner. His launch video hit 4M views in 24 hours.

Joyride exploded to become Target’s #1 candy brand, and just raised $30M to fuel growth. Textbook case of product–influencer fit.

🎙 PODCAST TAKEAWAY: Are you really venture-backable?

We sat down with Anna Whiteman of Coefficient Capital to unpack how institutional investors are thinking in 2025.

Key takeaways:

• Venture funding starts a clock. Founders underestimate how quickly VCs need to return capital. Ask yourself: does your model actually require venture dollars?

• Operate from strength, not scarcity. Don’t raise to feel safe — raise when you have retention, gross margin, and a clear ROI path for growth spend.

• Retail success ≠ scale fast. Nail product-market fit in DTC first. Then test retail in small doors before national rollouts. “Hero SKU. Double facings. Iterate fast.”

• Discipline wins. The best brands today balance growth and profitability from day one — and are more fundable because of it.

Anna also teased that TikTok Shop has now surpassed Sephora in GMV. Yes, you read that right.

Watch on YouTube, listen on Spotify.

That’s it for this week.
If you liked this issue, forward to a friend who obsesses over brand strategy, capital flows, or exit timing.

In the Money – following the flow of capital in consumer