Manny Lubin - How Slate Milk Raised $30M+ by Reinventing Protein Drinks for the Healthy Minded

In this episode, I sit down with Manny Lubin, co-founder of Slate Milk, to unpack the journey from a simple idea in 2017 to becoming a dominant player in the protein drink market. Manny shares hard-hitting lessons on brand positioning, product innovation, and some keys to winning in the beverage industry.

We talk about:

• The early struggles of launching a better-for-you chocolate milk
• How Slate Milk stacked TAM’s to find its niche between bodybuilder protein shakes and chocolate milk
• The business of dairy including ultra-filtration, removing lactose, and optimizing for a low sugar, high protein product
• Raising over $30 million with key investors like Peter Rahal (RXBAR) and Drew & Amanda Cohen (Yasso)
• The Shark Tank experience
• Leveraging influencer marketing, UFC partnerships, and retail expansion to scale
• The biggest mistakes in CPG fundraising and marketing

Whether you're an entrepreneur, fitness enthusiast, or just fascinated by building a challenger brand, this episode is packed with tactical insights you won’t want to miss.

00:00 Intro
01:15 Brand Positioning, Starting Slate
04:21 Target Audience and Market Growth
05:13 Core Thesis of Slate
07:14 Market Analysis, Stacking TAM’s
09:54 Masterclass on Dairy Industry
11:29 How Slate Makes Their Product
12:45 Deep Dive into Product Development
20:32 Mistakes When Building the Product
22:01 Raising $30M and Investor Insights
22:33 Advice from Peter Rahal, RxBar
23:33 Advice from Nick Rellas, Drizly
25:04 Advice from Drew and Amanda, Yasso
27:32 Choosing Board Members
28:42 Slow vs Fast Growth
29:20 Board Seat Deal Structure
30:39 Common Blindspots in Business
31:45 Meeting with Stu Klane, Chobani
33:26 Working with Skyview and Riverbank
34:39 Advice when Raising Money
35:24 Partnering with Maxx Crosby
36:30 Intro with the UFC
38:14 Launching with Kickstarter
39:35 Marketing: Overarching Strategy
41:26 Working with the UFC, Deal Structure
44:08 Marketing: Top Funnel
44:38 Influencer Partnerships
49:24 Marketing: Middle Funnel
53:14 Retail Strategies and Field Team Operations
55:00 Succeeding In Stores, Advice from Retail Managers
59:23 Getting in Whole Foods
59:49 Direct to Consumer Buyer Funnel
01:03:30 Fitness Influencers
01:04:17 Cavinder Twins
01:05:20 New Initiatives
01:06:48 New Product Sneak Peek
01:07:42 Operating as a Remote Company
01:08:44 Co-Founder Dynamics
01:11:28 Scaling Challenges
01:12:27 Measuring Success
01:13:05 Mental Resilience
01:14:24 Misconceptions About Shark Tank
01:16:35 Lightning Round
01:23:27 How Big Can Slate Be?
01:26:24 Outro

Guest: Manny Lubin, Slate Milk

Instagram: https://www.instagram.com/mannylubin/ / https://www.instagram.com/slatemilk/

LinkedIn: https://www.linkedin.com/in/manny-lubin-56329785/

Website: https://slatemilk.com/

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LinkedIn: https://www.linkedin.com/in/markmastrandrea/

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