Good morning, Broadsheet readers! Lina Khan's antitrust efforts hit a roadblock, Taylor Swift proves to be too big for Ticketmaster—again, and the infant formula shortage led a startup to make a major acquisition. Have a wonderful Wednesday.
- Joining forces. Over the past two years, the infant formula startup Bobbie has grown to reach $100 million in revenue, feed 300,000 babies, and serve more than 5% of the non-WIC U.S. formula market.
The company, which sells a $26 European-style formula direct-to-consumer in the U.S. and at retailers including Target, was rocked by last year's formula shortage. Cofounder and CEO Laura Modi says she started thinking about what Bobbie could do to strengthen its position in the marketplace—not just for its own sake, but for the sake of parents who found they couldn't depend only on the biggest players in the industry, like Mead Johnson and Abbott.
