• Source: Laura Modi

Laura Modi is an Irish-American executive and the co-founder and CEO of Bobbie. Before Bobbie, she was director of hospitality at Airbnb.




Early career


Modi began her career at Portwest, a workwear and personal protective equipment business run by her family and founded by her great-grandfather in Ireland. She then moved to Google Finance to lead a product development team. In 2010, she began working for Airbnb, establishing the company's European headquarters in Dublin and moving to America five years later. She eventually became Airbnb's director of hospitality.




Bobbie


Modi originally had the idea to found an organic infant formula company in 2016, when she was seeking formula to feed her first child that excluded palm oil and corn syrup from the ingredients. Over the next 18 months, she researched the industry and possible recipes, finding that the last significant U.S. Food and Drug Administration update to formula nutritional standards occurred in the 1980s. Modi left Airbnb and officially launched Bobbie, named after what her child called her bottle, in 2018. Modi self-funded the company with funds from savings and consultancy work before raising the company's first round of funding of $2.4 million, backed by early Airbnb investors, while pregnant with her second baby. Modi hired her past Airbnb colleague Sarah Hardy, who joined as co-founder in 2019.
In May 2019, an early pilot of Bobbie's formula led to a FDA inspection and a recall due to noncompliant labeling. Modi updated Bobbie's supply chain, partnering with Perrigo on manufacturing, and relaunched its "European-style" infant formula in compliance with FDA guidelines in January 2021. Bobbie's revenue grew to $100 million by 2023, even though Modi had made the decision to pause new customer registrations for six months during the 2022 United States infant formula shortage. In July 2023, Modi led Bobbie's acquisition of Nature's One, another formula brand, funded in part by a $70 million funding round raised by Modi.
As part of Bobbie's workplace culture, Modi highly prioritizes providing robust leave and job security to new parents. Following the 2022 formula shortage, she worked to help co-create the Infant Formula Made in America Act of 2024 and get it introduced in the U.S. Congress. She also set up Bobbie For Change, the company's advocacy arm, which spotlights high maternal mortality rates among black women and the need for parental leave reform.




Recognition


In 2023, Modi appeared with her Bobbie co-founder Hardy on the Time 100 Next list.
CNBC selected Modi for its 2024 Changemakers list of women in business.




Personal life


Modi is originally from Westport, Ireland. She lives in Washington, D.C., with her husband Shaun, whom she met at Airbnb, and four children.




References

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