In 2002, a 18-year-old Thai boy named Itthipat (Tob) Peeradechapan had to face a crushing reality. His parents’ debts had surpassed 40M baht after his father’s construction business collapsed in 1997.

He took it upon himself to help bring his family out of debt, dropping out of university and starting (and failing at) multiple businesses.

By 2018, he was listed as one of Thailand’s 50 Richest.

This is the story behind Taokaenoi, the global seaweed snack brand that you’ve either snacked on or seen lining grocery shelves. In 2022, they made $120.8M in revenue and $11.9M in profit!

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👋🏼 Meet the founder

As a child who skipped school and loved video games, he started out making money through gaming. He earned about $10,000 selling gaming products!

Tob then dropped out of university after his first year. He needed to focus on making money.

He started selling DVD players, then moved to selling roasted chestnuts.

After investing $7.200 to open a small inside a mall, he was struggling. But then, he got lucky when

By 19 years old, he had quickly expanded to 30 stalls in many hypermarkets across Thailand. However, when his stalls were moved outside due to the smoke, his sales plummeted, making it even harder to tackle the massive debt.

One day, Tob’s girlfriend brought him fried seaweed from her university store. This inspired him to create Taokaenoi’s seaweed snacks, which would become today’s No.1 rated seaweed brand in Thailand.

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🍙 The beginning

Taokaenoi means "little boss" in Thai. When Tob told his father about his first business plans, his father joked that he would become a Taokaenoi.

He then named his initial roasted chestnut business Taokaenoi and used the same name for his fried seaweed business.

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🤔 Creating the perfect recipe

Tob’s journey to create the perfect fried seaweed recipe was tough. He faced constant financial struggles and sold his computers to buy more seaweed for experiments.

Through relentless self-study and research, he finally discovered the perfect recipe. He started a small factory in a backyard in 2006.

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🚀 When the business first succeeded

His seaweed business grew rapidly, but Tob still couldn't clear his parents' debts.

To expand his reach, he partnered with 7-Eleven, significantly boosting sales. It was impressive that his young brand met 7-Eleven's strict hygiene and packaging standards, securing spots on 3,000 7-Eleven shelves.

As time passed, more people tried Taokaenoi seaweed snacks and loved them.

In 2005, Taokaenoi started exporting overseas. By 2008, they had to keep up with growing demand and had to open a second factory in Nopphawong, Thailand.

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🛣️ The road is never easy

Despite initial success, the journey hit rough patches. Even with their products in 7-Eleven, sales stalled.

Only when the snacks were placed more visibly on the shelves did sales pick up, reaching $30M in 2008, boosting Itthipat’s confidence for Taokaenoi going public.

Then, a devastating flood in 2011 wrecked the factory. Itthipat worked non-stop for three months to rebuild and restart operations.

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💪🏼 What doesn’t kill you makes you stronger

Tob never gives up, despite facing many challenges. He’s a pro at overcoming obstacles and coming out stronger since young.

He makes sure Taokaenoi stands out by focusing on research and development, launching up to 10 new flavors every year. Unique varieties like Pad Thai and Stir-Fried Chicken with Basil have become international sensations, making Taokaenoi a global ambassador for Thai cuisine.

The brand’s expansion into Costco in 2019 is another testament to its exceptional quality, meeting the stringent standards of one of the US’s most renowned retailers.

Taokaenoi’s marketing strategies are incredibly creative, using vibrant packaging and partnering with famous ambassadors to captivate audiences.

Embracing trends like NFTs in 2023, they collaborated with top Thai idols to offer exclusive digital collectibles alongside their snacks, showcasing Itthipat’s team’s forward-thinking approach and solidifying Taokaenoi’s position as a pioneer in the seaweed snack industry.

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🎥 To the big screen

In 2011, a Thai movie was made about Tob’s life! It was named “The Billionaire”, a title referring to his status as a billionaire in Thai baht. Many were inspired by his rags to riches story.

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🇹🇭 Here and now

Taokaenoi became a public company in 2015 and is now Thailand’s largest seaweed manufacturer, holding over 70% of the market and exporting to more than 50 countries.

In 2018, Tob made Forbes’ “Thailand’s 50 Richest” list with a net worth of $60M. After facing debt, we’d like to think his family won’t have to worry about money ever again.

But that doesn’t mean Taokaenoi is going to stay still. Tob and his team are eager to conquer foreign markets. With seaweed gaining global attention for its health benefits, Taokaenoi promotes its snacks as delicious and healthy.

They’re committed to innovation, using advanced technologies to make operations more efficient and coming up with more creative marketing ideas.

And of course, they’re determined to keep growing and thriving.