Trader Joe’s
Acquired27 Okt

Trader Joe’s

Trader Joe's breaks every rule of modern retail. They don't do e-commerce. They don't do delivery. No sales, coupons, or loyalty programs. They only stock 4,000 SKUs versus 50,000+ at normal supermarkets. Their parking lots are famously terrible and they're constantly out of your favorite items. Shoppers brave long lines and cramped aisles while overly-friendly employees in Hawaiian shirts try to chat them up. Everything about the Trader Joe's experience seems designed to drive modern consumers away. And yet they generate $2,000+ per square foot in sales — double their nearest competitor in Whole Foods and nearly 4x the industry average — and Americans are obsessed with them. How on earth did a company that so steadfastly refuses to participate in the 21st century build the most beloved grocery chain in America?

Today we tell the full story: how “Trader” Joe Coulombe started out cloning 7-Elevens in 1960s Los Angeles, pivoted to slinging hard liquor, discovered the enormous market opportunities for California wine and health food before anyone else, and ultimately built perhaps the most counter-positioned business we’ve ever studied on Acquired by doing almost everything differently than the supermarket-CPG industrial complex. Tune in for a wild voyage on the high seas of grocery retail!

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‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

Episoder(210)

Episode 9: Writely (Google Docs)

Episode 9: Writely (Google Docs)

Ben and David continue the cloud productivity saga with Google Docs. They examine the suite of acquisitions made by Google with a focus on Writely in 2006. They tackle:The nuts and bolts of the Upstartle (company behind Writely) acquisition, founded by Sam Schillace, Steve Newman and Claudia Carpenter.SaaS offerings in cloud productivity today.Was this a good idea for Google?Google's future bets.A new section: The Carve Out!Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

29 Mar 201651min

Episode 8: Acompli, Sunrise, and Wunderlist (w/ Kurt DelBene)

Episode 8: Acompli, Sunrise, and Wunderlist (w/ Kurt DelBene)

Ben and David have special guest Kurt DelBene on to discuss Microsoft's acquisition of Acompli, Sunrise, and Wunderlist. Kurt is the EVP of Corporate Strategy and Planning at Microsoft, and joins to discuss Microsoft’s cloud-first, mobile-first strategy, and the importance of being cross-platform in the modern era. They cover: How the app of Outlook Mobile on iPhone and Android came to be.How to decide whether to build vs. buy, and how it plays into the strategy for Office.How to preserve a culture and a team, and how Javier Soltero came to run all of Outlook at Microsoft.The origin of Outlook on the PC, originally led by Brian MacDonald as “Ren”.How to balance a business with competing priorities, and a decision-making framework for acquisitions in a large company.How to measure the success of an acquisition, and how sometimes, it’s not by measuring revenue at all.Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

29 Feb 20161h 4min

Episode 7: YouTube

Episode 7: YouTube

Ben and David test the widely-held belief that YouTube was one of the most successful tech acquisitions of all time. In today's world of next-generation video platforms, mobile video, streaming, and chord-cutting, was it actually a great purchase by Google? As discussed in the show, here is Sequoia's original YouTube investment memo - a rarely-shared gold mine for anyone interested in startup investing.Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

3 Feb 201653min

Episode 6: Lucasfilm

Episode 6: Lucasfilm

Riding closely on the tails of Star Wars: The Force Awakens, Ben and David cover Disney's 2012 acquisition of Lucasfilm. In the episode, they mention Walt Disney's original flywheel diagram, seen below.Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

19 Jan 201642min

Episode 5: Siri

Episode 5: Siri

In the last episode of 2015, Ben and David discuss Apple's acquisition of Siri. Notable topics include: The founding of Siri by Dag Kittlau, Adam Cheyer, and Chris Brigham.Scott Forstall on the Apple side, and the end of his time at the company.The other Apple acquisitions around Siri, including Topsy, Novauris Technologies, OttoCat.Cue, Spotsetter, VocalIQ, and Perceptio.The team Apple built around Siri post-acquisition, including Alex Acero from Microsoft Research.Speculation on the future of voice and its role in everyday computing.Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

14 Des 201546min

Episode 4: Bungie (with Xbox Co-Founder Ed Fries)

Episode 4: Bungie (with Xbox Co-Founder Ed Fries)

Ben and David are joined by Former Microsoft VP and Co-Founder of Xbox, Ed Fries, to discuss the Bungie acquisition and the development of Halo. Highlights include: Ed’s call with Steve Jobs after the acquisition, and sharing the stage with Steve and Bungie Co-Founder Alex Seropian at the Macworld Keynote.Bungie today, and the unlikely path to get there led by Harold Ryan.How to find something that all parties want to get a deal done, the creation Peter Tamte’s spin-out Mac gaming studio, and orchestrating the division of current Bungie projects and assets with Take-Two, led by Ryan Brandt.Saving a project that’s off schedule and missing the mark, and how Jason Jones led the effort to make Halo 2 a hit at launch.Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

30 Nov 20151h 9min

Episode 3: Twitch

Episode 3: Twitch

Ben and David discuss Amazon's acquisition of Twitch in 2014. Unlike previous episodes, this recent acquisition still has a lot of open questions, and Amazon hasn't publicly reported growth of Twitch since the purchase. Ben and David talk about Justin Kan's original product with Justin.tv, and the transformation into the Twitch that Emmett Shear is running today.Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

16 Nov 201555min

Episode 2: Instagram

Episode 2: Instagram

Ben and David discuss Facebook's acquisition of Instagram in 2012. Was it a success? If so, what are the criteria that made it work? What lessons can be learned for other acquisitions in the future?Sponsors:Anthropic: https://bit.ly/acquiredclaude25ServiceNow: https://bit.ly/acquiredsnVanta: http://vanta.com/acquiredStatsig: https://bit.ly/acquiredstatsig25More Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

1 Nov 201544min

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