Josh Hix of Plated

Josh Hix shares his experience as a Plated founder, his view of the food tech future, and explains how to start your own company
Guest
icon
icon

Josh Hix,

founder of Plated – Startup Exits Podcast – StartupSoft

Listen to the founder of Plated, Josh Hix, share his journey from a credit card debt to a $300 million acquisition of Plated

Play Pause
34:36

Guest bio

Josh Hix is a serial entrepreneur. In 2012, he founded Plated, an ingredient-and-recipe meal kit service. In 2013, as a co-founder of Plated, he participated in Techstars, then in Shark Tank (2014) and Beyond the Tank (2015). In 2017, Plated was acquired by Albertsons. However, Josh Hix stayed in food tech even after the acquisition, as it is one of his biggest passions. Thus, in 2019, he co-founded Season Health, a platform that aims to help members and providers manage chronic conditions. In this episode, he shares his journey with Plated and offers invaluable advice to other entrepreneurs on how to start your own Internet company.
About guest

In this episode

ANDREW VASYLYK SPEAKS WITH JOSH HIX, A FOUNDER OF PLATED, ABOUT HOW HE:

  • Sees the role of an MBA in running a business;
  • Explains small business startup financing;
  • Shares about his first successfully built and sold product;
  • Answers the questions of how to start your own Internet company;
  • Looks back at his Shark Tank open-call experience;
  • Sees the role of startup competitors in the early stages of the business.

Top moments:

How to start your own company

1

Josh Hix co-founded Plated in 2012. However, his entrepreneurial journey goes all the way back to 2003, when he started building his first tech product along with many other business endeavors to help him pay his way through college. This experience before going to Harvard Business School was extremely valuable for him, as it let him meet amazingly smart people, learn from his own mistakes, and then, evolved, co-found a successful business in 2012.

However, even with this long journey, Josh Hix says he couldn’t avoid mistakes altogether. Hix founded Plated with his partner, Nick Taranto, right out of the latter’s apartment. They wanted to be disciplined about building this product, so for six months, they were building and planning, and learning anything they could possibly learn about their niche to ace the product.

How did they stay sane? Hix explains, “you do have to care about what you’re building to get through the tough days, so we thought about what we cared about and what interested us – health, wellness, and nutrition.”

Within those six months, they were looking for places where the things they were passionate about intersected with an unsolved pain of an end user. And that’s where they found an opportunity to create Plated.

Startup financing

2

Unfortunately, passion alone doesn’t pay the bills. That’s why Hix and Taranto found themselves in debt with maxed-out credit cards.

They knew back then it was time for them to turn to investors. It wasn’t an easy path for them, though, as to get their first “Yes,” they had to go through 200 “No’s.” Finally, they met a group of angel investors from their niche who got their product and their passion and were ready to make an entrepreneurial leap of faith with them.

What is their advice to other early-stage startups looking for startup financing options?

It might sound cliche, but Hix recommends not to give up: eventually, if you have a great product, one of those doors is going to open for you.

Shark Tank experience

3

In 2014, Josh Hix participated in Shark Tank with Plated. He shares his experience in this episode and explains that this was a fun life experience and later led them to raise capital. 

Millions of households watch Shark Tank, and participation there brought brand recognition to Plated, which is something every startup needs and has to pursue.

The future of food tech, according to Josh Hix of Plated

4

While building the product, Hix says he didn’t really have time to analyze what the future holds for food tech. However, after the acquisition, he took some time off, looking for his next adventure. At that time, he realized that the future of food tech was ever so bright. He believes that new successful businesses will emerge to improve and innovate the supply chain, the “better for you” lines of products, and logistics for perishable food.

Wrap up
Listen to a new episode of Startup Exits with Josh Hix of Plated as he shares his journey from a credit card debt to a $300 million acquisition, insights on financing a startup, the next big thing in future food tech, and his Shark Tank experience.
Share with

host bio

This podcast is brought to you by Andrew Vasylyk, a host of Startup Exits Podcast and a founder of StartupSoft, your reliable partner in hiring, managing & retaining remote employees. Andrew is passionate about startups, technology, and Ukraine.

Podcast photo

Other episodes you might like:

Guest 1
icon
icon

Tim Gill

founder of Quark33:22

00:00/00:00