BeatBox Beverages Shark Tank Update: Where Are They Now? |All Social Updates

Table of Contents

BeatBox Beverages Shark Tank Update: Where Are They Now?

#BeatBox #Beverages #Shark #Tank #Update

Welcome guys to All Social Updates. Here you can Find complete information about all the latest and important updates about every matter from all around the world. We cover News from every niche whether its big or small. You can subscribe and bookmark our website and social media handles to get the important news fastest before anyone.Follow our website allsocialupdates.com on Facebook, Instagram , Twitter for genuine and real news.

Businessmen Justin Fenchel, Brad Schulz and Aimey Steadman starred in the fourth episode of Season 6 of the ABC show Shark Tank seeking a life-changing investment from the show’s Sharks panel for their BeatBox drinks company. BeatBox Beverages produced wine-based mixed bowls in boxes, positioning and marketing itself as a party drink for millennials. People were naturally interested in learning more about the company because the product seemed more convenient than standard bottles or cans. Don’t worry because we have the answers you are looking for!

BeatBox Drinks Shark Tank

BeatBox drinks: who are they and what do they do?

After graduating with a Bachelor of Science in Economics from Pomona College, Justin Fenchel attended Texas McCombs School of Business to earn his Master of Business Administration with a concentration in entrepreneurship studies. Prior to his Master’s degree in Business Administration, Justin held equity and financial analyst positions with a number of companies. In July 2009 he founded his own company Flying Penguin. In addition, he co-founded BeatBox Beverages LLC in November of the same year. Although Justin was absent from BeatBox Beverages for a number of years due to his pursuit of an MBA, in addition to his role as CEO of BeatBox Beverages, he is currently CEO of Future/Proof, a second company he co-founded in 2019. Future/Proof was founded in 2019. During this time, Amy Steadman earned her Bachelor of Science degree in Advertising and even earned her Master of Business Administration from the Texas McCombs School of Business.

Amy has had a great professional life, with some of the notable jobs she’s had being Chief of Staff and Marketing Lead at Texas Venture Labs, and a founding member and Chairman of the Board of Naturally Austin. It is interesting to note that Amy has held these positions. In addition to serving as Chief Operating Officer at BeatBox Beverages, Amy currently serves on the Board of Directors of Naturally Network. On the other hand, Brad earned his Bachelor of Arts in Marketing from the University of the Pacific – Eberhardt School of Business before accepting a number of prestigious positions such as Director of Digital Media at Kabillion and Head of Moshi TV at Mind Candy. In 2013 Brad helped build the professional networking platform Tryout. He then worked at Dubit Limited as a consultant and vice president of brand development. However, he is currently employed full-time at BeatBox Beverages as Chief Marketing and Experience Officer.

Over the course of the show, Justin mentioned that he and his co-founders first met and met when they were in business school. However, since Justin is usually the one responsible for delivering drinks for gatherings, he’s the person who tends to find bottles and cans uncomfortable and dirty. After a whole night of partying, it seemed like the hardest task would be cleaning up and disposing of the rubbish, although mixing drinks properly in huge containers was difficult enough. So, as Justin racked his brain for better ideas, he came up with the concept of beatboxing drinks, and he quickly enlisted his buddies with the suggestion.

Back then, BeatBox Beverages was developing wine-flavored party punches that were sold in pre-mixed boxes. These punches came in different flavors. Despite the fact that the drinks were made with orange wine, they came in four different flavors, one of which was unique to the state of Texas. In addition, the drink had an alcohol content of 11.1 percent, was packaged in 5 liter cartons, was very easy to transport and serve and required no mixing by the consumer.

Also Read: Taliah Aquilini, Francesco Aquilini Ex-Wife, Children and Family & Here & What We Know

Where are BeatBox drinks now?

Despite the fact that BeatBox Beverages was founded in 2012, it only managed to raise $6,000 in funding through its first campaign on IndieGoGo. According to the reports, the company failed to meet the target it set itself. Still, Justin, Brad, and Aimeyt were undeterred by the obstacle in their path and were determined to achieve significant success in the relatively near future. As a result, they started their business with a small investment and quickly found that people responded positively to the goods they were selling. It’s interesting to note that the company incurred over $100,000 in debt in the first few months of its existence. However, after the company’s co-founders generated approximately $245,000 in sales just 14 months after its inception, there was no turning back.

BeatBox Beverages appeared on the show with a request for a $200,000 investment in exchange for 10 percent of the company. Although the Sharks were interested in the idea, neither of them was able to strike a deal until Mark Cuban gave them $600,000 in exchange for 33% of the company. However, Mark was willing to accept the co-founders’ counteroffer of $1 million in exchange for the same 33 percent stake. The investment has allowed Justin, Amy and Brad, along with Mark, to expand their market presence and begin stocking their goods in supermarkets and retailers across the country. This was a huge benefit.

By 2021, BeatBox Beverages had established itself as the fastest growing brand in the boxed alcoholic beverage market. It wasn’t long before the company’s co-founders considered expanding their soft drink selection. As a result, the company is currently successful in selling single serve boxed wines, hard seltzer and seltzer cocktails in addition to mixed punches. Additionally, they have expanded the range of flavors they offer, which has increased significantly from the initial four. According to certain reports, the company’s total revenue was nearly $18 million in 2021, and the management team expects that number to grow to over $20 million in 2022.

People interested in trying the drink can purchase a pack from the company’s official website for approximately $42.99 per unit. Additionally, the store offers a 6-pack Variety Box that can be purchased for $19.99. It is interesting to note that BeatBox Beverages is currently valued at $200 million, and given that the company has just recently raised an additional $15 million from investors, we can look forward to significant growth in the future Calculate industry.

Also Read: Who is Kaivalya Vohra? Meet the youngest richest Indian with 1000 Cr.

A quick look at BeatBox Beverages and their journey to Shark Tank

In the fall of 2014, Justin Fenchel, Brad Schultz and Aimy Steadman appeared on the television show Shark Tank and presented their product to the investor panel. The trio first met at a business school in Austin, Texas, where two other co-founders were also present. Justin’s desire to have an alternative drink available for gatherings was the catalyst for the idea that eventually became BeatBox Beverages. He made the decision to buy a case of mixed drinks instead of a case of beer or wine as he wanted something different.

Officially made with orange wine, BeatBox drinks come in a variety of flavors including blue raspberry lemonade, cranberry lemonade, Box A’Rita and Texas Tea, among many other options. These drinks are made by BeatBox Beverages. The drinks have an alcohol content of only 11.1% and a minimal calorie count. Because each case holds the same amount of wine as seven standard bottles, “it’s an excellent item to share at parties.”

The company got into Shark Tank with a goal of raising $200,000 in exchange for a 10 percent stake in the company. They also provided the Sharks with free samples, and the Sharks expressed their unanimous approval of the article. After starting out with debts of $55,000 and $100,000, the company was able to turn a profit of $245,000 in just 14 months.

Barbara Corcoran made them an offer of $400,000 in exchange for a 20% stake. Though Kevin O’Leary believed distribution would be difficult, he made an offer of $200,000 in exchange for 20% of the company. However, Mark Cuban believed he was the best candidate to develop the company and offered $600,000 in exchange for a 33 percent stake. Mark was ready to strike a deal after the makers of BeatBox Beverages offered him $1 million in exchange for 33% of the company.

After renaming Future Proof Brands LLC in November 2021, BeatBox Beverages took the lead as the fastest growing brand in the category that same month. They soon added other flavors like Vizzy, Brizzy, and Corkless, which were single-serving versions of wine and seltzer cocktails (a hard seltzer), respectively. They are now stocked at over 12,000 locations including Kroger, QuikTrip, Circle K and many others across the country.

As of July 2022, the company is still the market leader for the fastest-selling 500-milliliter serving of wine in the United States. According to their annual financial report, revenue generated in 2021 was $18 million and projections for this year are $20 million with 1.8 million cases sold.

In September 2022, BeatBox Beverages signed as the official beverage sponsor of the Alabama Crimson Tide football team. At every sporting event, both men’s and women’s, their wares are available for purchase. To date, the company has sold more than 12 million cases in 2022 and is now available in more than 40,000 retail stores across the United States.

In addition, the company received $15 million in funding from private investors this year at a valuation of $200 million. They have over 95,000 followers across all of their social media platforms, with a particular focus on Instagram.

In the upcoming episode of Shark Tank, BeatBox Beverages is scheduled to appear and update on the status of their company. ABC has scheduled the episode to air on Friday, September 30, 2022 at 8:00 p.m. Eastern Time (ET).

Read more: Shark Tank Dating Investor Janine Allis Husband Jeff Allis Net Worth Comparison and Age Difference