Michael Cammarata

Last updated
Michael Cammarata
Born1985 (age 38–39)
Long Island, New York
NationalityAmerican
Occupation(s) Businessman, health executive, and investor.

Michael Cammarata (born 1985) is an American businessman, health executive, and investor. He is the co-founder of Schmidt's Naturals, a personal care company that was acquired by Unilever in 2017, where he served as chief executive officer (CEO) until 2019. [1] From 2019 to 2024, Cammarata served as President, CEO, and board member of Neptune Wellness Solutions, positions he was forced to vacate as a cost cutting measure due to the company's ongoing negative financial situation. [2] Cammarata also manages the venture capital fund Random Occurrence, which he founded in 2002. [3] [4]

Contents

Early life and career

Cammarata was born and raised in Long Island, New York. He was diagnosed with dyslexia during his childhood, which affected his education. [5] His interest in gaming, computers, and the internet began at an early age, particularly through playing the video game StarCraft. [1] [5]

At the age of 13, Cammarata founded his first business, EzzHosting, a web hosting company funded with $2,000 provided by his older brother. [1] [5]  EzzHosting operated on a dedicated server and managed websites that collectively received approximately 5 million unique monthly visitors. [6]

In 1996, Cammarata developed Ultraboard (also known as UB and UB2K), one of the early internet message boards utilizing PHP. [7] Ultraboard was popular among the Counter-Strike's gaming community. [5]

In 2001, Cammarata released one of the first video game music videos, which became one of the most downloaded files on GameSpy. [5] The music videos included collaborations such as Diablo II/Gangsters Paradise and Starcraft/Limp Bizkit by GamingMV. [8]

At 15, Cammarata launched a second business, an online advertising network. [1] He gave away websites for free to sell internet ads. He worked with Cox Interactive and AdCritic.com, with the latter eventually becoming part of Ad Age. [5]

In 2009, Cammarata transitioned from technology into the music industry, managing the teen boy band Big Time Rush. [5] He managed the band through his company CMI Entertainment group. [9] [10]

Business career

In 2013, Cammarata began an investment fund, Random Occurrence (originally KM Organics Fund). [6] [3]  As a band manager, Cammarata had observed a desire among fans for all-natural personal care products. [1] [11] [12] The following year, Cammarata set out to begin investing in the natural products space. In 2014, he met Jamie Schmidt, a creator of natural deodorant products based in Portland, Oregon, and invested in her. [3] [11] [13] [14]

In January 2015, Cammarata and Schmidt officially incorporated Schmidt’s Deodorant Company, LLC (SDC) and launched the company as co-founders and co-chief executive officers. [6] Over the next few years, Cammarata worked closely with Schmidt, growing SDC from 4 employees [13] in a 1,200-square-foot kitchen to a 30,000-square-foot manufacturing facility. [15]  Cammarata drove the product's rebranding, manufacturing, and expansion into retailers, while Schmidt focused on the product. [11] [13] [15] In early 2017, Cammarata and Schmidt were finalists in the EY Entrepreneur of the Year 2017 Awards for the Pacific Northwest Region. [16]

Post-acquisition, Cammarata continued to serve as CEO of Schmidt's. [13] During his tenure, he introduced a sensitive-skin version of the deodorant in partnership with pop star Justin Bieber called “Here + Now” [17] and a Lily of the Valley-scented deodorant with environmentalist Jane Goodall. [18] Cammarata also introduced an AI platform named Alexander at Schmidt's Naturals to manage customer service and deliver personalized messaging. Unlike traditional bots, Alexander operates autonomously using its own neural network, monitoring social media and initiating conversations with consumers without human intervention. Human editors review some responses before they are sent, contributing to the AI’s ongoing learning process. [19]

In July 2019, Cammarata joined Neptune Wellness Solutions, where he served as president and chief executive officer. [20] In April 2020, Cammarata partnered with conservationist Jane Goodall to develop a new line of plant-based products, including essential oils. [21] [22] In February 2021, Cammarata acquired a controlling interest in baby-food maker Sprout Foods in a transaction that brought Morgan Stanley Expansion Capital into Neptune as a major shareholder. [23]

Under Cammarata's leadership, Neptune Wellness engaged in multiple direct offerings, diluting shareholder value in July 2020 [24] , February 2021 [25] , March 2022 [26] , June 2022 [27] , October 2022 [28] , May 2023 [29] , and September 2023. [30] In June of 2022, Neptune Wellness Solutions announced a reverse stock split of 35 to 1, [31]  and the divestiture of its cannabis business. [32] In September of 2023, Neptune underwent a further 40 to 1 reverse stock split. [33] In November 2023, Nasdaq informed Neptune Wellness that the company was not in compliance and would be delisted from the exchange [34] , after Neptune's appeal, the company was delisted in March of 2024. [35] Cammarata was suspended as President and CEO of Neptune as a cost-cutting measure in February 2024 [36] , Neptune then announced Cammarata's resignation backdated to February in early March 2024. [37] Neptune Wellness Solution's market capitalization fell from a peak of $530 million on July 30, 2019, the month Cammarata joined the company, to $1.4 million on February 23, 2024, the date of Cammarata's resignation. [38]



Personal life

Cammarata lives in Jupiter, Florida. [39] He has a Siberian Husky named Rico. [40]

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References

  1. 1 2 3 4 5 "I Made My First Million at 13. Here's My No. 1 Rule for Investing". Money. Retrieved 2021-01-02.
  2. ↑ "Neptune Wellness Solutions Inc. Announces Mandatory Unpaid Leave of Absence for Michael Cammarata as Chief Executive Officer - MarketScreener". MarketScreener. 26 February 2024.
  3. 1 2 3 Raphael, Rina (2017-08-02). "Forget Avocado Toast: Millennials Are Flocking To Natural Deodorant". Fast Company. Retrieved 2021-01-02.
  4. ↑ "De bonne source: Michael Cammarata". Les Affaires.
  5. 1 2 3 4 5 6 7 Cremades, Alejandro. "He Was Expected To Fail Because Of His Dyslexia. He Then Made His First $1 Million At 13 And By Age 20 He Was Making Over $100 Million". Forbes. Retrieved 2021-01-02.
  6. 1 2 3 "Michael Cammarata, CEO and Entrepreneur, On His Journey to Acquisition, Despite Dyslexia". Men's Journal. 2019-12-19. Retrieved 2021-01-02.
  7. ↑ "UltraBoard 2000 Official WebSite". 2001-06-07. Archived from the original on 2001-06-07. Retrieved 2021-01-03.
  8. ↑ "Welcome to GamingMV dot com, Your source for Gaming Music Videos". 2001-02-23. Archived from the original on 2001-02-23. Retrieved 2021-01-03.
  9. ↑ "Vanessa Hudgens, Ashley Tisdale, Big Time Rush Members to Star in Animated Film (Exclusive)". Hollywood Reporter . 19 September 2012. Retrieved 2021-01-03.
  10. ↑ Fleming, Mike Jr. (2013-11-26). "Big Time Rush Singer Kendall Schmidt's Solo Transition Gets Feature Documentary". Deadline. Retrieved 2021-01-03.
  11. 1 2 3 Sandler, Emma. "How Schmidt's Naturals Made Deodorant In A Jar Fashionable". Forbes. Retrieved 2021-01-02.
  12. ↑ Ang, Katerina. "Americans are so obsessed with how they smell that Unilever just bought this hipster deodorant brand". MarketWatch. Retrieved 2021-01-02.
  13. 1 2 3 4 "8 months in, indie brand Schmidt's Naturals is adjusting to life at Unilever". Glossy. 2018-08-30. Retrieved 2021-01-02.
  14. ↑ "An All-Natural Portland Deodorant Brand Goes Big". Portland Monthly. Retrieved 2021-01-03.
  15. 1 2 Chhabra, Esha. "How This Oregon Brand Went From A Small Business To A Global Powerhouse In Wellness". Forbes. Retrieved 2021-01-03.
  16. ↑ Giegerich, Andy (Apr 26, 2017). "6 Portland entrepreneurs vie for top EY regional award". www.bizjournals.com. Retrieved 2021-01-03.
  17. ↑ "Justin Bieber Has a Brand New Beauty Gig — and It's Not What You'd Expect". Us Weekly. 2019-05-21. Retrieved 2021-01-02.
  18. ↑ "Schmidt's Naturals, Jane Goodall Institute partner on deodorants". Drug Store News. Retrieved 2021-01-02.
  19. ↑ Monllos, Kristina (May 23, 2019). "Unilever-owned Schmidt's Naturals is using AI to handle customer service". Digiday.
  20. ↑ Woelfel, Joseph (8 July 2019). "Neptune Wellness Names Michael Cammarata as New CEO, Replacing Jim Hamilton". TheStreet. Retrieved 2020-01-31.
  21. ↑ Caldwell, Georgina (2020-04-28). "Neptune Wellness partners with Dr Jane Goodall to co-develop Forest Remedies line". Global Cosmetics News. Retrieved 2021-01-03.
  22. ↑ Ruffner, Zoe (14 October 2020). "Jane Goodall on the Simple Steps We Should All Take to Save the Planet". Vogue. Retrieved 2021-01-03.
  23. ↑ "Neptune Wellness Acquires Controlling Stake in MSEC Backed Sprout Foods". www.pehub.com. Retrieved 2022-12-14.
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  27. ↑ "Neptune Wellness Solutions Inc. Closes $5 Million Registered Direct Offering". www.nasdaq.com. Retrieved 2024-12-30.
  28. ↑ "Neptune Wellness Solutions Inc. Closes $6.0 Million Offering". www.newswire.ca. Retrieved 2024-12-30.
  29. ↑ "Neptune Wellness Solutions Inc. Closes US$4 Million Public Offering". www.wkbn.com. Retrieved 2024-12-30.
  30. ↑ "Neptune Wellness Solutions Inc. Closes US$4.5 Million Public Offering". www.prnewswire.com. Retrieved 2024-12-30.
  31. ↑ "Neptune Wellness Solutions Inc. Announces Share Consolidation". www.prnewswire.com. Retrieved 2022-12-14.
  32. ↑ Borchardt, Debra. "Neptune Wellness is Selling Its Canadian Cannabis Business". Green Market Report. Retrieved 2022-12-14.
  33. ↑ "Neptune Wellness Solutions Inc. Completes Share Consolidation". www.prnewswire.com. Retrieved 2024-12-30.
  34. ↑ "Neptune Wellness Announces Receipt of Nasdaq Delisting Notice and Intention to Appeal". www.finance.yahoo.com. Retrieved 2024-12-30.
  35. ↑ "Neptune Announces Decision of Nasdaq Hearings Panel To Delist Common Shares". www.finance.yahoo.com. Retrieved 2024-12-30.
  36. ↑ "Neptune Puts Employees, Including Certain Key Executives, on Mandatory Unpaid Leave of Absence Beginning February 23, 2024". www.nasdaq.com. Retrieved 2024-12-30.
  37. ↑ "Neptune Announces Michael Cammarata's Resignation Effective February 23, 2024". www.finance.yahoo.com.
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  39. ↑ "Michael Cammarata". LinkedIn. January 2, 2021. Retrieved January 2, 2021.
  40. ↑ Bruneau, Megan. "He Was Told He'd 'Never Amount To Anything' Due To Dyslexia. By Thirteen He'd Made His First Million". Forbes. Retrieved 2021-01-03.
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