Bootstrapping to Big Leagues: Ancient Crunch’s Seth Goldstein on Fundraising, DTC, and Retail Expansion

How Ancient Crunch’s Seth Goldstein Built a Brand Without Selling Out

In our September Founders Only Club member session, Eric Hinman introduced Seth Goldstein, co-founder of Ancient Crunch, a wellness CPG brand leading the charge against seed oils and artificial fats. What followed was a transparent, founder-friendly download on what it takes to scale from scrappy to serious, without losing your edge.

The Origin: Passion First, Product Second

Seth and his co-founder Stephen didn’t set out to start a business. They bonded over a shared obsession with clean ingredients back in college, and it wasn’t until their initial batch of tallow-cooked chips sold out in days that the company began to take shape. Ancient Crunch is now expanding into new categories including skincare and sourdough cheese crackers.

Why Meta is Still King

Despite testing postcards and podcast sponsorships (yes, even Joe Rogan), Seth emphasized Meta (Facebook + Instagram) as their dominant and most stable ad platform. It allows massive spend with predictable results, something vital when you're deploying debt to acquire customers.

DTC as a Launchpad, Not a Lifeline

Ancient Crunch's DTC push wasn't a flashy choice, it was survival. With traditional retail locked behind gatekeepers, the brand built traction online first. That traction became leverage, opening doors to Sprouts, Wegmans, and more.

Brokers > Founders in Retail Pitching

In grocery, brokers aren’t middlemen, they're mission-critical. Seth advises founders to step aside and let brokers handle buyer meetings. They speak the language of the grocery aisle and know how to navigate the red tape.

The Art of Strategic Fundraising

Seth broke down Ancient Crunch’s capital stack: $14M in equity raised and $7M in debt. But the game isn’t raising, it’s deploying wisely. His rule of thumb? Debt-funded CAC (customer acquisition cost) must pay back in six months or less. If it doesn’t, it’s a pass.

Discontinuing Swimwear, Doubling Down on Chips

One of the more candid moments came when Seth admitted to killing their swimwear line. Apparel, he said bluntly, is a "terrible business." High returns, low repeats, and constant fashion churn killed the unit economics. Their chip business? Strong, repeatable, and with far better LTV.

Retail Strategy: Value Brands & Smart Expansion

Ancient Crunch isn’t trying to make one product fit everywhere. While Masa Chips work in Whole Foods, conventional retailers like Walmart may get "value brand" versions—same ethos, slightly tweaked formulas.

Manufacturing and Fulfillment: The Hard Way

Due to limitations with co-packers (most refused to work with animal fats), Ancient Crunch built out its own manufacturing and fulfillment ops from day one. It's scrappy, but it ensures quality control—and brand resilience.

Key Takeaways for Founders:

• Fundraising: Don’t raise pre-revenue unless absolutely necessary. Get your repeat purchase metrics dialed first.
• Marketing: Focus on channels that scale. Meta over podcasts.
• Product: Social consumables like chips or wine = better margins and brand exposure.
• Retail: Use brokers and data to secure shelf space. Skip the cold calls.
• Ops: Own your supply chain if you have to. But be ready for labor headaches.

Want to join the next call? Become a Founders Only Club member!