BeerMKR Shark Tank Net Worth 2023
The founders of BeerMKR have a net worth of $1.5 million as of 2023. BeerMKR has sold and shipped thousands of units since their appearance on Shark Tank and tens of thousands of MKRKITs.
BeerMKR is an American company founded in 2013 by Aaron Walls and Matt Goff. In May 2021, BeerMKR appeared on Shark Tank, where they asked the Sharks for $500 thousand for a 2% equity at a $25 million valuation.
Since appearing on Shark Tank, BeerMKR has experienced tremendous growth and success. They have secured additional funding and partnerships, leading to an estimated net worth of $25 million as of March 02, 2023.
What is BeerMKR? Who Founded BeerMKR?
The BeerMKR is a beer brewing machine that can produce high-quality beer within a short time span of just 12 days.
For beer enthusiasts who are interested in exploring different types of brews, the company offers a subscription service that delivers fresh ingredients directly to their doorstep.
To use the BeerMKR, the user simply needs to follow the instructions provided in the accompanying booklet, which will guide them through the process of mixing and inserting the ingredients into the brewer.
Aaron Walls and Brett Vegas are the creators of this unique home-brewing system, which enables users to produce excellent beer using high-quality, all-natural ingredients.
The idea for the BeerMKR was born when Aaron and Brett met in college and began experimenting with home brewing.
They later teamed up with two engineering students, Matt Goff and Evgeniy Tkachenko, to develop the recipes and the technology behind the machine.
The software that regulates the temperature during the fermentation process is a crucial component of the BeerMKR. All of the ingredients are pre-measured and packed, making the brewing process hassle-free for the user.
The BeerMKR is compact, roughly the size of a microwave, and retails for $579, which includes a tap for dispensing the beer.
Additional taps can be purchased separately for $119, while the brewing components, called MKRkits, are available in four-packs for $59 and six-packs for $89. Each kit yields 12 bottles or cans of beer.
BeerMKR Shark Tank Pitch
In October 2018, the BeerMKR team launched a Kickstarter campaign that raised $398,276. Despite facing challenges related to production and shipping, they managed to deliver their final products in December 2020.
However, like many other businesses, the global Covid-19 outbreak exacerbated their production and shipping issues.
Aaron and Brett appeared on Shark Tank seeking $500,000 for a 2% stake in their company, implying a $25 million valuation.
Although the Sharks liked the beer, they were not convinced by the valuation, particularly since BeerMKR had only sold 24 units.
The Covid-19 epidemic was cited as a contributing factor, as it had delayed the manufacturing process by 9 months.
Barbara Corcoran withdrew her support, stating that the proposition was akin to asking the Sharks to “believe in the fairy godmother.”
While Lori Greiner liked the flavor of the beer, she was disappointed that it had not yet reached consumers’ hands.
Mark Cuban believed that the team was on the right track but expressed doubts about the company’s ability to generate sufficient profits to provide a significant return on investment. Alex Rodriguez objected to the amount of money being requested.
Kevin proposed a $500,000 loan at 9% interest in exchange for 4% of the company, but the BeerMKR team countered with a 2% stake.
Eventually, Mr. Wonderful’s offer was rejected, and Vegas and Walls walked away, dissatisfied with the debt aspect of the deal.
On the day their Shark Tank episode aired, Aaron and Brett launched a crowdfunding campaign on Start Engine, which has raised $335,883 as of July 2021. The company’s revenue for the year was $3 million.
BeerMKR Net Worth
Aaron and Brett join the Tank seeking $500,000 for a 2% stake in their company. This implies a valuation of $25 million
BeerMKR Competitors
BeerMKR and competitors includes;
Noble Brewer, PintPass and Eliqs.
BeerMKR FAQS
How much is BeerMKR worth?
Despite the fact that they left without an agreement, Vegas and Walls remain confident in their $25 million valuation of BeerMKR.
BeerMKR produces how much beer?
It yields a dozen 12-ounce bottles.
What became of BeerMKR?
BeerMKR is currently based in Boulder, Colorado, where it can thrive in the craft-startup environment.
Following their debut at the Great American Beer Festival in Denver, the BeerMKR team started a Kickstarter campaign in September 2018 to raise much-needed cash.
How does BeerMKR function?
BeerMKR offers a closed, insulated environment that allows for perfect temperature control throughout the brewing process.
BEERMKR activates all of the enzymes found in grains during brewing to break down carbohydrate and protein while also achieving system-wide pasteurization.
How much does a BeerMKR cost?
The asking price for a BeerMKR is about $499. It includes a tap for holding your beer.
Extra taps cost $119, while the MKRkits (the actual brewing components) are $59 for a four-pack and $89 for a six-pack. Each kit yields the equivalent of 12 beer bottles or cans.
How much does it cost to ship BeerMKR?
BeerMKR offers free shipping to all 50 United States and Puerto Rico.
How BeerMKR does makes money?
BeerMKR makes money by selling BeerMKR and MKRkits
What is BeerMKR revenue?
BeerMKR revenue is $3 million for the year.
How much did BeerMKR make at Shark Tank?
They didn’t get a deal on the show, but that doesn’t mean they’re out of options.
They still want to ship their product and get it into stores. Their Kickstarter campaign had 912 backers who pledged $398,276.
How much does a BeerMKR weigh?
BeerMKR weighs roughly 110 pounds.
How did they make their BeerMKR?
They developed the recipes and added two engineering students to their team.
The software that automatically warms and cools the beer during the fermentation process is the fundamental component of BeerMKR.
All of the ingredients are pre-measured and packed, and then machine does the rest.
Why beer?
Beer is known as the staff of life. It provides sustenance for humans to fulfil their daily needs.
It is also a fuel source for humans to survive, especially in harsh winter conditions.
Much like their ancestors before us, beer was also used as a form of currency back in ancient times and in primitive societies today in order to facilitate trade and barter transactions.
Who founded BeerMKR?
BeerMKR was founded by 2 friends who wanted to challenge the way they thought about home-brew. Aaron Walls and Brett Vegas are the co-founders of BeerMKR.
Where is BeerMKR based?
BeerMKR is currently based in Boulder, Colorado.
What is BeerMKR Shark Tank update?
BeerMKR has burst into the scene since we filmed our Shark Tank episode. They’ve sold and shipped thousands of BeerMKR units in less than a year.
Many MKRKITs have been sold. And as of this week, BeerMKR has made over 100,000 beers.
What is Aaron Walls net worth?
Aaron Walls net worth is $30 Million.
What is Brett Vegas net worth?
Brett Vegas net worth is $20 Million.
Currently there is no update on his net worth.
