They obviously new the potential of haircare so hence renegotiating with P&G was truly a master stroke in realising better for OBJ to take to market directly as our own product with the likes of PP who has had previous success at Foreo. Ask yourself why someone would leave such a prestigious role at a billion dollar plus company (which he was a big part in creating that value)? He has a BS in physics an MBA & speaks 8 languages so obviously intelligent enough to see potential in the technology OBJ had to offer. Guys like this love innovation so why wouldn't he join a company where he had the prospect of bringing many new innovations to the beauty sector....I'm assuming he was like a kid in a lolly shop when he was imagining how many gadgets & products could be created using the OBJ tech that could possibly change the future in the way we do things for ever (as the haircare device could possibly do). It was pretty much 1 product that made Foreo into a household name & market leader in their space in the cosmetic industry & I think PP could see not 1, but potentially many products (which each in their own right would be company making) so I think for him it was a no brainer to join a company that could provide the innovative tech to create products that his expertise could smash into market. The Haircare device & pods are a perfect fit & exactly what P&G would have wanted to take to market (as I believe many have already mentioned) so how perfect is it that we are doing this on our own rather than have let them do it for return of a pittance in royalties. I remember many here saying we could not possibly absorb or sustain a cost to go the road alone however as per PP's success at Foreo he has already shown it is!
OBJ Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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