Itthipat Peeradechapan
Itthipat Peeradechapan | |
|---|---|
| Born | Itthipat Kulapongvanich November 24, 1984 Thailand |
| Other names | Tob |
| Occupation | Businessman |
| Known for | Founder of Tao Kae Noi |
Itthipat Peeradechapan (, , surname changed from Kulapongvanich in 2012), commonly known by his nickname Tob (), is a prominent Thai businessman recognized for creating Tao Kae Noi, a brand offering fried seaweed snacks distributed throughout the Asia-Pacific region. He and his family collectively own 73% of the enterprise, with Forbes estimating his personal wealth at $600 million as of 2018.
His initial earnings came from competing in online gaming contests, where he used his prize money to start selling fried chestnuts, a popular treat in Thailand. Utilizing this initial capital, he developed packaged deep-fried flavored seaweed snacks that rapidly gained traction both domestically and internationally, expanding into countries such as Indonesia, Japan, Taiwan, Singapore, Malaysia, and the United States.
His success story served as the inspiration for the Thai film The Billionaire, which highlights his achievement of billionaire status measured in Thai baht.
Early life
Itthipat Kulapongvanich was born on November 24, 1984, into a prosperous Thai Chinese family engaged in the construction industry. His educational journey included Panapun Wittaya School (kindergarten through elementary), St. Francis Xavier School (secondary education), and Suankularb Wittayalai Nonthaburi School (upper secondary), culminating with a bachelor's degree in business administration from the University of the Thai Chamber of Commerce.
Business career
At age 16, Itthipat was deeply involved in online gaming and earned prizes despite skepticism from his teachers. At 17, he left formal schooling to pursue selling fried chestnuts, successfully capitalizing on their popularity in Thailand.
In 2004, he established Tao Kae Noi (Little Tycoon) Food and Marketing Co., Ltd., focusing on producing fried seaweed snacks that appeal primarily to teenagers and office employees. The company went public on the Stock Exchange of Thailand in December 2015, securing 1.8 billion baht through its initial offering. By the third quarter of 2017, Tao Kae Noi reported net profits amounting to 160 million baht. Itthipat’s strategic objective is to achieve $1 billion in revenue within seven to eight years, positioning the brand as a leading force in the snack food industry.