Core Insights - Chobani, a US yogurt brand, recently completed a $650 million funding round, raising its post-money valuation to $20 billion (approximately 142.2 billion RMB) [4] - The founder, Hamdi Ulukaya, has seen his net worth soar to approximately $13.5 billion, making him the richest person in Turkey [4] Company History and Growth - Chobani was founded 20 years ago when Ulukaya purchased an old yogurt factory for $700,000, despite skepticism from advisors [7] - The brand aimed to introduce Greek yogurt to the US market, which was dominated by sweet, low-fat options, capturing a mere 1% of the yogurt market at the time [8] - By 2012, Chobani's revenue exceeded $1 billion, establishing it as the leader in the Greek yogurt segment [8] Financial Performance - Chobani's projected net sales for this year are expected to reach $3.8 billion, reflecting a 28% increase from the previous year [9] - Historically, Chobani has rarely sought external funding, with only two previous rounds before the recent financing [11] Strategic Moves and Acquisitions - In 2023, Chobani made significant acquisitions, including a $900 million purchase of high-end coffee brand La Colombe, enhancing its competitive edge in the coffee and dairy sectors [14] - The company also acquired plant-based frozen meal brand Daily Harvest, marking its entry into the frozen food market [14] Market Potential in China - The success of Chobani raises questions about the potential for similar models in the Chinese market, where brands like Wuzhou and Lechun are emerging [16] - Wuzhou, founded in 2020, focuses on low-temperature Greek yogurt and has established a factory with a daily processing capacity of 800 tons [17] - Lechun, backed by Coca-Cola, emphasizes high protein content and has received multiple rounds of funding, positioning itself as a strong competitor in the health-focused yogurt segment [17]