News in brief
Insomnia Cookies hits sweet note with first ever VC funding
The late-night warm, gooey cookie delivery service – a college campus staple – was founded in 2003 by Seth Berkowitz, a student at the University of Pennsylvania at the time.
Three years later, it opened its first bricks-and-mortar store in Syracuse, New York, and today boasts more than 155 locations.
In 2018, Krispy Kreme acquired a majority stake in the Philadelphia-headquartered cookie chain, which was valued at $500m. Insomnia was allowed to retain its status as an independent company, headed by Berkowitz.
According to Megan Bruton, senior director of marketing of Insomnia, the late night delivery “is music to any college student’s ears after a long night of studying, or being out until the bars close.”