Kristy Chong, founder of ModiBodi, revolutionized personal care products for women by creating absorbent underwear. With its recent sale for $140 million, Chong is now shifting from entrepreneur to investor, exclusively backing women-founded companies. The podcast delves into her journey, challenges in advertising, financial implications of the sale, securing investment from Quadrant, productivity hack with Trello boards, and advice for aspiring entrepreneurs.
Kristy Chong transitioned from founder to investor, backing other female entrepreneurs and advocating for more opportunities for women in the industry.
Modibodi's success was born out of Kristy Chong's personal necessity as a mother experiencing incontinence and her dedication to developing a revolutionary garment for leak management.
Deep dives
Overcoming Obstacles to Build Successful Businesses
In the first episode of Female Founders, Kristi Chong, the founder of Modibody, shares her story of overcoming obstacles to build a successful business. After experiencing incontinence while running, she embarked on a mission to create comfortable and effective products to manage leaks. Modibody's success led to a sale of the company for $140 million in 2022. Chong has now transitioned from founder to investor, backing other female entrepreneurs and advocating for more opportunities for women in the industry.
Childhood Ambition to Entrepreneurial Success
As a child, Kristi Chong was competitive and ambitious, participating in various activities and expressing a desire to be a fashion designer. Although she pursued a career in public relations, Chong later embarked on a journey of entrepreneurship to solve the problem of leak management with comfortable underwear. Her childhood ambition and determination eventually led to the founding of Modibody and its subsequent success.
From Idea to Revolutionary Product
Kristi Chong's idea for Modibody was born out of personal necessity as a mother experiencing light incontinence. Frustrated with existing solutions, she conducted extensive research, spoke to experts, and focused on developing a revolutionary garment that eliminated the need for disposable hygiene products. The product, not available elsewhere at the time, gained recognition as a groundbreaking innovation in women's health and contributed to Modibody's global success.
Navigating Challenges and Achieving Growth
Building Modibody involved overcoming numerous challenges, including funding the initial stages of the business. Chong invested personal funds, utilized her background in PR for cost-effective marketing strategies, engaged with influencers and micro-influencers, and gradually expanded the product range. The company's growth was accelerated by hiring staff, optimizing e-commerce channels, implementing performance media marketing, and leveraging the support of angel investors and private equity firms like Quadrant. The dedication to continuous improvement and adaptability contributed to Modibody's revenue growth and international expansion.
Kristy Chong revolutionised personal care products for women all over the world by creating an underwear range that absorbs leaks. The company she founded in 2013, ModiBodi, sold for $140 million last year and now Chong is turning from entrepreneur to investor. But there’s a caveat. The companies she’s backing must be founded by women.