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07.17.17 | 4:31 pm

Report: Hampton Creek loses its entire board except for the CEO

This year, things have gotten a bit scrambled at vegan food startup Hampton Creek. In May, Hampton Creek reportedly shed its CFO, COO, and VP of business affairs, along with the heads of HR, finance, and logistics. That came after "a round of cuts in October and a slew of other departures," according to Bloomberg. Then, last month, Hampton Creek's CTO and VPs of business development and R&D were sent packing after reportedly trying to wrest control away from cofounder and CEO Josh Tetrick; their plan was to tweak the company's governance structure to give investors more sway. 

Now a new report today from Bloomberg claims that Hampton Creek has since lost all its board members except for Tetrick. Five or more board directors left recently, reportedly "over deep discord" with Tetrick. 

Tetrick insists this has to do with protecting the company's employees and mission statement. "Ensuring our employees maintain their ability to direct our mission is as critical as the technologies we deploy and the products we launch," he said in a statement. "We will always protect this principle." 

08.19.16 | 12:06 am

Report: SEC probing whether Hampton Creek broke the law by not disclosing buyback program

The U.S. Securities and Exchange Commission is examining whether Hampton Creek violated the law by not disclosing to investors that the startup was buying thousands of its own Just Mayo products at stores, which may have improperly inflated its revenue, reports Bloomberg.

Earlier this month, company founder and CEO Joshua Tetrick told Fast Company that the scheme was intended to pull faulty product off shelves, perform quality assurance tests and to secure shelf space in an intensely competitive market. Tetrick said that the buy-back plan, which only cost $77,000 in total, didn't really boost sales (overall, the company brought in $4.6 million in sales at grocery stores, not including Whole Foods, from April 2014 to April 2015, per market research firm IRI).

08.04.16 | 5:16 pm

Hampton Creek eats its own dog food—and the yolk is on investors

Haute eggless mayo vendor Hampton Creek has been running a massive internal campaign to get Just Mayo in major stores by having employees and contractors buy large quantities of the eggless mayo, Bloomberg reports. Talk about growth hacking! 

Just three years after CEO Josh Tetrick founded Hampton Creek, Just Mayo was on shelves at Safeway, Kroger, Costco, Walmart, Target, and Whole Foods nationally—which helped the company raise $90 million from investors in late 2014. 

Tetrick told Bloomberg that Hampton Creek was only buying Just Mayo for quality assurance purposes:

Because of this, we now understand the impact of trucking and shipping our product and enabled the system we have today that mitigates the risk of extreme temperatures . . . Assessing the product from the customer perspective, more than anything, gets us out of the bubble of typical manufacturing. This was and always will be the primary purpose of it, which is why we'll continue doing it.

Read more about how Hampton Creek put Just Mayo on grocery store shelves in Fast Company's September feature