Oatly ran a commercial during the Super Bowl that was unanimously dissed. It featured their CEO Toni Petersson playing a keyboard in an oat field as he sings a weird song.
People didn’t like it, but Oatly probably doesn’t care, because the company is doing quite fine.
They have submitted plans for an IPO, which could value the company at over $5 billion.
The Swedish based company sells oat milk products all over the world, and has some pretty famous fans, including Oprah and Jay-Z. They have strategically formed alliances with a number of large brands and restaurants, including Starbucks, and with the demand for plant-based food growing by the day, Oatly hopes to partner with more restaurants, and increase the number of retail stores that sell their products.
J-Z loves it so much that his entertainment company Roc Nation has invested. The company raised $200 million last summer, and other world famous investors in that round were Oprah Winfrey, Natalie Portman and the former CEO of Starbucks Howard Schultz.
As for that commercial Oatly ran during the big game on CBS. It was actually a spot they created six years ago and had been running throughout Europe.
And the commercial is actually banned in Oatly’s home country of Sweden. Turns out a milk lobby didn’t like it and got stations to stop running it.
Adweek liked the commercial, and ranked it No. 8 in their countdown of top 10 Super Bowl ads this year.