From zero to $ 50mn, then back to zero
Curt Jones built Dippin Dots into a multi-million brand, and lost it to creditors
After the super success of Dippin Dots , Curt Jones filed for bankruptcy due to debt, recession, and lawsuits. Curt Jones started again, and succeeded again.
Curt Jones re-imagined icecream in 1988. He invented ice cream of the future. He was a microbiologist. He applied his knowledge of cryogenic processes. He made a new kind of ice cream using liquid nitrogen. Within years Dippin Dots was available at retail settings in all 50 U.S. states and in 10 other countries. But, sales went down due to recession. They had $ 13mn debt. So, Curt Jones filed for chapter 11 bankruptcy. He left the company in 2015.
In his interview to Guy Raz Curt says, “In 2007 we had identical sales, but costs of milk, gas, nitrogen had gone up. We went from a profit to a loss. I have no regrets. We had created 200 jobs.”
He started ’40 Below Joe’ in 2018. He applied the same process to coffee and creamer. The result was frozen arabica coffee-beads. One can enjoy coffee-beads frozen, like Dippin’ Dots ice cream, or heated, using a milk steamer or in a mug in the microwave. Nondairy creamer beads compliment the coffee. Today ’40 Below Joe’ is available in more than 200 outlets.
Dig deeper:
