HBR On Leadership Chobani’s Founder on Mission-Driven Entrepreneurship
Sep 4, 2024
Hamdi Ulukaya, the visionary founder and CEO of Chobani, shares his journey from an abandoned yogurt factory to a powerhouse in the dairy industry. He discusses the significance of mission-driven entrepreneurship while prioritizing employee welfare. The conversation covers the challenges of scaling a business without losing core values and the importance of community support in overcoming hurdles. Ulukaya also delves into the cultural roots of yogurt, highlighting the rich traditions of both Greek and Turkish varieties.
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Chobani's Origin Story
- Hamdi Ulukaya, a Kurdish immigrant, bought an abandoned yogurt factory in upstate New York.
- With minimal resources, he built Chobani into a leading yogurt brand, later expanding to a large factory in Idaho.
Scaling and Culture
- Scaling a business requires adapting to new realities while staying true to core values.
- Flexibility and a people-centric culture are essential for navigating growth challenges.
From Bootstrapping to IPO
- Initially, Ulukaya avoided outside investors to maintain control and take risky decisions.
- Now, with Chobani's established success, an IPO is seen as a way to bring in partners and shareholders.