Noah Schnapp has launched a crowdfunding campaign in support of his vegan alternative to Nutella.
Last November, the Stranger Things actor launched tbh (to be honest), a vegan, clean and sustainable alternative to the hazelnut cocoa spread Nutella.
He has now teamed up with investing platform Republic to give his followers the opportunity to invest in his venture for as little as $50 (£41).
Through Republic, the 18-year-old and his tbh team hope to raise up to $1.24 million (£1.02 million) by 21 January 2023. The investment will help tbh expand its product line and retail presence and release a single-serve packet of the spread.
“I believe value-aligned investing is more important than focusing only on sustainability because I really believe we can vote with our dollars,” he explained to Page Six via email.
Outlining the origins of tbh, Noah told the outlet that he was “shocked and brutally bummed out” when he first read the nutrition information on Nutella.
“Hazelnuts aren’t the main ingredient, and the amount of sugar alone made me realise I wasn’t doing myself any favours,” he added.
He also noted that Nutella is made with palm oil, the production of which “is responsible for mass deforestation” – something Noah “couldn’t support”. According to Noah, tbh contains no palm oil and 50 per cent less sugar than Nutella.
The actor began studying entrepreneurship at the University of Pennsylvania’s Wharton School of Business this autumn, and he recently told TechCrunch that he could see himself launching a venture capital fund within the next year.
“I think it’s very exciting just doing all of this. Like, I have my acting and I know what to expect there. But this is just a whole other world that I’m very excited about exploring,” he stated.
– Cover Media