BeatBox Beverages Shark Tank Net Worth 2023
In Season 6 Episode 6 of Shark Tank, Justin, Brad, and Aimey entered the show with the goal of receiving $200,000 in exchange for a 10% stake in their company. Based on this proposal, their company was valued at $2 million.
However, they ultimately accepted an offer from Mark Cuban, who agreed to invest $1 million for a 33% stake in the company. This implies a valuation of $3,030,303 for their business.
As of 2023, Beatbox Beverages has established itself as a major player in the beverage industry, with an estimated value of $200 million.
It has become highly profitable due to its innovative product designs and unique marketing strategies, which have proven successful both domestically and overseas.
What is BeatBox Beverages?
BeatBox Beverages is a company that produces punch made from wine. Their beverages are made entirely from orange wine and come in four flavors: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea. With a proof of 22 and an alcohol content of 11.1 percent by volume, these drinks are low in calories, with approximately 40 calories per serving.
Each package of BeatBox beverages contains 5 liters, which is equivalent to more than 30 servings of 5 ounces. At a price of $19.99 per box, customers receive a lot of value for their money.
The team behind BeatBox Beverages met at a business school in Austin, TX, where Justin, one of the co-founders, came up with the idea of creating mixed drinks in a box as an alternative beverage to bring to parties and gatherings. This concept eliminated the need to carry a 30-pack of beer or a box of wine to events.
Although the company was founded in 2012, their initial attempt to raise funds through an IndieGoGo campaign in early 2013 was unsuccessful.
Despite raising $6,000 towards a $10,000 fundraising goal, IndieGoGo allowed them to keep all the funds raised, unlike Kickstarter, which only releases the money if the fundraising goal is met or exceeded. Justin Fenchel, Brad Schultz and Aimy Steadman are the founders of BeatBox Beverages.
What happen to BeatBox Beverages at the Shark Tank Pitch?
In episode 6 of season 6 on Shark Tank, Justin, Brad, and Aimey presented their business concept to the Sharks. They asked for $200,000 in exchange for a 10% stake, which would value their company at $2 million.
They started their presentation by showing a bottle of wine they considered dull, and then introduced their product, Beatbox Beverages, as a “party in a box.”
The Sharks were given samples to taste, and while Lori and some of the other Sharks enjoyed the product, Mr. Wonderful did not like it.
The entrepreneurs revealed that they initially distributed the product themselves but later contracted with a co-packer because they lacked time for advertising. They disclosed that their company had earned $245,000 in revenue over 14 months, with more than half of that amount coming from the most recent quarter. However, they also mentioned starting debts of $55,000 and $100,000.
Justin spoke of their plans to expand through tastings, but Mark believed this approach was not effective and suggested a broader distribution. Kevin cautioned that distribution could be challenging and pointed out the risk of viral drinks doing well in some markets but not in others.
In terms of offers, Barbara proposed investing $400,000 for a 20% stake, while Kevin offered the same equity for $200,000, citing his familiarity with the market and higher net worth than Barbara.
Mark, on the other hand, did not consider the product a wine item and recommended rapid expansion, offering $600,000 for a 33% stake. Justin countered with $1 million for the same percentage, and Mark agreed to further negotiation.
BeatBox Beverages after the Shark Tank Pitch.
BeatBox used Cuban’s investment to increase its distribution, making it available in Kroger and Ralphs supermarket stores throughout the United States.
They also introduced a new product, the BeatBox MixTape, which is a single-serve boxed beverage that comes in Fruit Punch and Blue Razzberry flavors and costs less than $3.50.
Currently, BeatBox is collaborating with celebrity entrepreneur Rob Dyrdek, who stars in MTV’s Ridiculousness, to revamp their packaging to appeal to a wider market of adults aged 21 and older. Mark Cuban appeared on Ridiculousness to promote BeatBox.
Fast forward to November 2021, and BeatBox has become the fastest growing brand in its category. Future Proof Brands LLC, the company behind BeatBox, has also expanded its product portfolio to include Corkless, a canned single-serve wine, Brizzy, a seltzer cocktail, and Vizzy, a hard seltzer.
These products are available in over 12,000 locations, including Kroger, Circle K, and Quik Trip, and generate $11.5 million in annual revenue.
BeatBox Beverages Net Worth
Justin, Brad, and Aimey join the Tank in Season 6 Episode 6 seeking $200K in exchange for 10% of the firm. This indicates a $2 million appraisal. They accepted an offer from Mark Cuban of $1 million for 33% thus valuing at $3,030,303.
BeatBox Beverages Competitors
BeatBox Beverages top competitors is Double Eagle Distributing.
Beatbox Beverages Shark Tank Updates
BeatBox Beverages is a company that sells wine-based punch in a box. The company appeared on Shark Tank in 2014 and accepted a $1 million investment from Mark Cuban in exchange for 10% equity. Since then, the company has grown significantly.
The company’s value has grown from $2 million during its debut on Shark Tank to $11.5 million as of 2022. BeatBox Beverages has also raised $15 million from private investors at a $200 million valuation.
As of July 2022, BeatBox is the number one fastest-selling 500ml wine in the US and is in over 34,000 retail outlets. The company’s revenue in 2021 was $18 million.
BeatBox Beverages has appeared on Beyond the Tank, a Shark Tank spin-off that follows up on the progress of businesses that appeared on the show. In season 2 of Beyond the Tank, the entrepreneurs said that BeatBox had made $440,000 within four months of appearing on Shark Tank.
In November 2021, BeatBox was the fastest-growing brand in its category.
BeatBox Beverages is set to return to Shark Tank in an update episode that will air on September 30, 2022. The episode will feature Mark Cuban and the co-founders sharing exciting new updates about BeatBox’s big growth plans for 2023 and beyond.
BeatBox Beverages Shark Tank Net Worth 2023
| INFORMATION | AMOUNT / DESCRIPTION |
| Shark Tank Pitch | $200,000 for 10% stake, company valued at $2 million |
| Offer Accepted | $1 million for 33% stake, company valued at $3,030,303 |
| Current Estimated Value (2023) | $200 million |
| Product Description | Punch made from orange wine, 4 flavors, 11.1% alcohol, 5-liter package |
| Founders | Justin Fenchel, Brad Schultz, Aimy Steadman |
| Revenue | $245,000 in 14 months |
| Expansion | Available in Kroger and Ralphs, introduced BeatBox MixTape |
| Collaborations | Rob Dyrdek for packaging revamp |
| Other Products | Corkless, Brizzy, and Vizzy |
| Competitors | Double Eagle Distributing |
BeatBox Beverages FAQS
What Is Beatbox Beverages?
BeatBox Beverages is a line of boxed alcoholic mixed drinks that was founded in 2012 by Justin Fenchel, Aimy Steadman, and Brad Schultz. The drinks are made from a unique orange wine that is more like a clear spirit than a wine and works as a base for creating mixed drinks.
BeatBox Beverages come in four flavors: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea. The drink is 22 proof and 11.1% alcohol by volume, and it is low calorie (about 40 calories per serving) .
Each box of BeatBox Beverages is equivalent to 7 bottles of wine, making it perfect for sharing at parties.
BeatBox Beverages secured an investment from Mark Cuban on Shark Tank and has since expanded its distribution, product line, and packaging. The company is now called Future Proof Brands and includes a host of additional trendy alcoholic products.
BeatBox products are about 50% more carbon efficient than traditional alcohol brands, and the company offsets all of the plastic used in its products and company operations through rePurpose Global.
In summary, BeatBox Beverages is a line of boxed alcoholic mixed drinks made from a unique orange wine that is more like a clear spirit than a wine and works as a base for creating mixed drinks.
The drinks come in four flavors and are low calorie and perfect for sharing at parties. The company secured an investment from Mark Cuban on Shark Tank and has since expanded its distribution, product line, and packaging.
How Does Beatbox Beverages Shark Tank Works?
BeatBox Beverages is a company that sells wine-based punch in a box. The company appeared on Shark Tank in 2014 and accepted a $1 million investment from Mark Cuban in exchange for 10% equity. This was one of the largest investments in Shark Tank history.
Since then, the company has grown from a value of $2 million during its debut on Shark Tank to $11.5 million as of 2022. In 2021, the company raised $15 million from private investors at a $200 million valuation.
BeatBox Beverages has four flavors: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea. The company’s founders met at a business school in Austin, Texas and came up with the idea for BeatBox Beverages when one of them wished to have an alternative to expensive wine.
The company’s mission is to help everyone #PartyBetter.
BeatBox Beverages has appeared on Shark Tank twice – once in 2014 and again in the spinoff series Beyond The Tank in 201. Beyond The Tank is a reality series that follows up on entrepreneurs who pitched products to the panel of investors on Shark Tank. The program allows viewers to see how the companies have performed since being featured on the show.
What Happened To Beatbox Beverages Shark Tank?
BeatBox Beverages appeared on Shark Tank in 2014 and accepted a $1 million investment from Mark Cuban in exchange for 10% equity. The company sells wine-based punch in a box and was founded by Justin Fenchel, Brad Schultz, and Aimy Steadman.
The idea for BeatBox Beverages came about when Justin wanted to have an alternative drink to bring to events, so he decided to go with mixed drinks in a box.
After appearing on Shark Tank, BeatBox Beverages experienced significant growth. By 2021, the company was in 12,000 stores, including Kroger, and had earned $18 million in revenue.
As of 2022, the company is one of the fastest-growing brands of ready-to-drink beverages, with a projected $12 million in sales in the US alone. BeatBox Beverages is currently available in over 40,000 retail locations and is the fastest-growing alcohol beverage brand on social media.
In September 2022, BeatBox Beverages returned to Shark Tank for an update episode, where Mark Cuban and the co-founders shared exciting new updates about the company’s big growth plans.
The company is united through a love of music and inspired by the entrepreneurial spirit of Austin, Texas. BeatBox Beverages has reached over 6 million consumers at festivals and events in 2022.
What Is The Current Valuation Of Beatbox Beverages Shark Tank?
BeatBox Beverages had a valuation of $2 million when it appeared on Shark Tank in 2014. As of 2022, the company’s valuation has grown to $11.5 million. However, the most recent source states that as of 2023, BeatBox Beverages is valued at $200 million, making it the largest-ever deal on Shark Tank.
BeatBox Beverages is a line of wine products with unique tastes and packaging. The company has expanded its product portfolio to include canned single-serve wine, seltzer cocktails, and hard seltzer. BeatBox Beverages used Mark Cuban’s funding to expand its distribution since its appearance on Shark Tank. The company is now available in over 40,000 retail locations including 7-11, Walmart, Kroger, Casey’s, and Circle K.
The company has over 95K followers on social media and is very active on Instagram.
Revenue for BeatBox Beverages has grown from $1 million in 2017 to $18 million in 2021. The company is expecting to make $20 million in 2022 and co-founder Justin Fenchel is aiming to do $100 million by the end of next yea.
In an interview with Forbes, Mark Cuban rated BeatBox as one of his best Shark Tank deals.
Is Beatbox Beverages Shark Tank Still In Business?
Yes, BeatBox Beverages is still in business as of April 2023. The company, which sells wine-based punch in a box, appeared on Shark Tank in 2014 and received a $1 million investment from Mark Cuban in exchange for 10% equity.
Since then, the company has grown significantly and is now one of the fastest-growing brands of ready-to-drink beverages in 2022, with a projected $12 million in sales in the US alone. BeatBox Beverages is currently available in over 40,000 retail locations and has over 95,000 followers on social media.
In addition to its success in retail, BeatBox Beverages has also expanded its presence in other areas. In March 2023, the company announced that it will be sold in the American Airlines Center during Dallas Mavericks and Dallas Stars games.
The company has also reached over 6 million consumers at festivals and events in 2022. Furthermore, BeatBox Beverages was featured in an episode of Beyond the Tank, which provides updates on entrepreneurs who have appeared on Shark Tank.
In September 2022, BeatBox Beverages returned to Shark Tank for a second time. The company’s CMO, Brad Schultz, stated that they have come a long way since their original Shark Tank episode and that they will sell over 12 million BeatBox’s in the US in 2022.
Overall, BeatBox Beverages has experienced significant growth since its appearance on Shark Tank and continues to be a successful business.
What is BeatBox Beverages?
BeatBox Beverages is a punch made with wine. BeatBox Beverages are created entirely of orange wine and are available in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea (available in Texas only).
Who is the founder of BeatBox Beverages?
Justin Fenchel, Brad Schultz and Aimy Steadman.
How much were they asking in the Shark Tank?
They asked for $200K in exchange for 10% of the firm.
Did they get the deal?
Yes.
How much was the deal?
Mark Cuban offered them $1 million for 33%.
Is BeatBox Beverages still in business?
Yes.
How much were they raising?
$500K.
Where are the BeatBox Beverages sold?
They are sold at supermarkets, liquor stores, and convenience stores around the country.
Its current distribution is nearly half of the U.S., with Texas being its stronghold.
For instance, it is available in Lubbock, Texas; Tulsa, Oklahoma; as well as other cities in Texas like Amarillo and Corpus Christi.
Is the alcohol in BeatBox carbonated?
It is a non-carbonated beverage.
What type of alcohol is contained in a BeatBox beverage?
BeatBox is a “Party Punch” made with wine. They provide an 11.1 percent ABV Hard Punch and a 6% ABV Zero Sugar range of beverages.
Is it necessary to keep Beatboxes refrigerated?
BeatBox will remain unopened for 24 months at room temperature.
Additionally, Bag-In-Box products can be refrigerated for up to two months after opening. BeatBox is a low-calorie, low-sugar beverage with only 7g of sugar per serving.
Are BeatBox beverages tasty?
It is quite sweet and with a distinct berry taste. It wasn’t bad in and of itself, but as a cocktail, it is more akin to a blue energy drink with added alcohol.
What is the composition of the BeatBox beverage?
BeatBox Beverages are created entirely of orange wine and are available in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea.
The drink has a proof of 22 and an alcohol content of 11.1 percent by volume; it’s also low in calories (approximately 40 calories per serving).
How much did BeatBox sell for?
The BeatBox MixTape is a resealable 500ml package available in two flavours, Fruit Punch and Blue Razzberry, and sold for under $3.50
What is the flavour of BeatBox?
According to Fenchel, what sets BeatBox apart from other boxed wine firms is that BeatBox tastes more like a vodka mixed cocktail than wine.
Are BeatBox beverages sugary?
BeatBox Beverages are delectable wine-based cocktails delivered to their door.
Delicious – their two most popular flavours are the refreshing Blue Razzberry Lemonade and the delectable Blue Razzberry Lemonade cocktails.
Can BeatBox beverages be frozen?
“They recommend serving BeatBox over ice, perhaps with a splash of lemonade or sprite/soda,” CEO Justin Fenchel explained.
“Or freeze it to make ‘BeatBoxicles,’ an alcoholic slushie. They simply freeze the bag, cut a corner off, and squeeze. Their best-selling flavors are Blue Razzberry and Fruit Punch.
How much sugar is in a blue raspberry BeatBox?
Each recyclable and resealable package includes 130 calories & 8 grams of sugar per serving.
