Electra Sports Drinks Net Worth
During her appearance on Shark Tank Season 12 Episode 9, Fran Harris was seeking $350,000 for a 20% stake in her sports nutrition company, Electra. This would have valued the company at $1.75 million.
However, after facing tough questioning and skepticism from the Sharks, only Barbara Corcoran made an offer. Corcoran offered $100,000 in cash and a $250,000 line of credit in exchange for a 40% equity stake.
After some negotiation, Harris revealed that she was in talks with two Hall of Famers from the NFL and NBA who were interested in investing and promoting the product.
With this information, Corcoran agreed to cut her equity stake to 30% and provide the same cash and line of the credit arrangement. This offer brought the company’s valuation to $333,333.33.
Harris was thrilled with the partnership with Barbara Corcoran and believed that she would continue to succeed with her support. However, it seems that the deal with Corcoran fell through as of July 2021. Currently, Electra is only available for purchase on the company’s website and is not sold in any retailers.
What are Electra Sports Drinks and Who is the Founder of Electra?
Electra is a sports nutrition company that produces a rehydration drink in three different flavors, including Passion Punch, Litty Lemonade, and Oh Yeah Orange. The drink is designed for both athletes and the average person on the go, as it contains essential vitamins, minerals, and electrolytes with very little sugar or sweeteners.
Fran Harris, a former WNBA player in the United States who also played professionally in Switzerland, founded the company.
She graduated from the University of Texas, and in addition to overseeing Electra, she provides motivational speaking, mentorship to players and coaches, and recommendations for sports facility building through her trading firm Fran Harris Enterprises, LLC.
Harris played an instrumental role in leading the University of Texas to an NCAA championship in 1986 and played for the Houston Comets, who won their first WNBA title in 1997. Like other athletes, she consumed sports drinks throughout her collegiate and professional basketball careers.
However, she became frustrated by the nutritional labels of popular sports drinks, which left her feeling lethargic and did little to help her recover. After reading the nutritional labels, she discovered that sports drinks were mainly composed of sugar, artificial food coloring, and salt.
Fran Harris founded Electra to provide a better hydration option for major sports drink brands, targeting “daily doers, hustlers, and athletes,” according to the company’s website. She helped the company launch in early 2020 with an IndieGoGo campaign that raised $7,212.
Harris is well-known for her appearances on various television shows, including Good Morning America, Today, CNN, CNBC, and MSNBC, where she has provided life and business counseling, as well as for her competitive collegiate and professional sports career on TV.
Electra Sports Drinks Shark Tank Pitch
During Season 12 Episode 9 of Shark Tank, Fran Harris appeared seeking $350,000 for a 20% stake in her sports nutrition company, Electra. The Sharks were impressed with the product but had concerns about entering the beverage industry, especially since the company had almost no sales due to being in its early stages.
Barbara Corcoran was the only Shark to make an offer, proposing $100,000 cash and a $250,000 line of credit in exchange for 40% equity. Mark Cuban praised Electra’s flavor and composition but couldn’t invest due to his current involvement with another sports drink company.
Lori Greiner and Daymond John both decided to pass, citing concerns over lack of data and personal interest in sports drinks, respectively.
Ultimately, Harris revealed that she was in negotiations with two Hall of Famers in the NFL and NBA who were interested in investing and promoting the product. With this information, Corcoran agreed to lower her equity request to 30%, and Harris accepted her offer.
However, as of July 2021, it appears that the deal with Corcoran fell through, and Electra is only available for purchase on the company’s website and not in any retailers.
Electra Sports Drinks Net Worth
She accepted an offer from Barbara of $100,000 Cash + $250,000 Line Of Credit For 30% Contingent on Securing Partnership with Influencer thus bringing valuation to be $333,333.33.
Electra Sports Drinks Competitors
Mountain Berry Blast Xion 4, Mountain Berry Blast Powerade, Mixed Berry Powerade and
Fruit Punch Powerade functions like Electra Sports Drinks.
Electra Sports Drinks Shark Tank Updates
Electra is a sports hydration drink brand that appeared on Shark Tank Season 12 Episode 9. The founder of the Electra Drink brand, Fran Harris, asked for $350,000 in exchange for her company’s 20% equity in Shark Tank.
Electra is an all-natural sports hydration drink that has less sugar, sodium, and artificial colors than other drinks on the market. It is sweetened with Munk Fruit, an alternative to traditional artificial sweeteners.
Barbara Corcoran invested $100,000 and a $250,000 line of credit for 30% equity in Electra. However, the deal was contingent on Harris landing a major athletic spokesperson. As of August 2022, Electra is not yet available on HEB markets, it is currently selling only on its website.
The estimated net worth of Electra Sports Drink is around $1.17 million as per the Shark investment. In 2020, Electra raised $40,000 from WeFunder.
Despite early hardships, Electra is still in business following Harris’ appearance on Shark Tank. After the show, the deal made on Shark Tank was never closed. There is no evidence of it, and it is not updated on the Barbara Corcoran website for her business list. Electra Sports Drink is only available on its website.
Electra Sports Drinks Shark Tank Summary:
|Company Name||Electra Sports Drinks|
|Product||A sports nutrition rehydration drink available in three flavors: Passion Punch, Litty Lemonade, and Oh Yeah Orange. It contains essential vitamins, minerals, and electrolytes with very little sugar or sweeteners.|
|Shark Tank Valuation||$1.75 million for a 20% stake.|
|Shark Tank Deal||Barbara Corcoran invested $100,000 in cash and a $250,000 line of credit for a 30% equity stake, contingent on securing a partnership with an influencer.|
|Competitors||Mountain Berry Blast Xion 4, Mountain Berry Blast Powerade, Mixed Berry Powerade, and Fruit Punch Powerade.|
|Shark Tank Update||The deal with Barbara Corcoran fell through, and Electra is only available for purchase on the company’s website and not in any retailers.|
Electra Sports Drinks FAQS
How Does Electra Sports Drinks Shark Tank Works?
Electra is a sports hydration drink brand that appeared on Shark Tank in Season 12, Episode 95. The founder of Electra, Fran Harris, is a former WNBA Basketball star who created the drink out of frustration with current products in the sports drink space.
Electra is an all-natural sports hydration drink that contains vitamins, antioxidants, BCAAs, and electrolytes. The drink is designed to provide healthy hydration to athletes and everyday doers.
During her pitch on Shark Tank, Harris asked for $200,000 for 20% of her business. The Sharks liked the product, but there were many objections about the difficulty of breaking into the beverage space. Harris had virtually no sales as she had just started the company.
Barbara Corcoran was the only Shark who made an offer – $100,000 in investment and a $250,000 line of credit for 30% . Harris accepted the deal.
After Shark Tank, Electra was featured by many big companies, which increased the brand’s trust score. Electra seems to have a modest online presence, but it is still in business. According to Shark Tank Talks, Electra’s net worth can be $1.1 million in 2022.
What Is Electra Sports Drinks Shark Tank?
Electra Sports Drink is a healthy alternative to traditional sports drinks that was featured on Shark Tank. The founder of Electra, Fran Harris, is a former WNBA basketball star who created the drink because she was dissatisfied with the high sugar content of other sports drinks on the market.
Electra is an all-natural sports hydration drink with no added sugars and only 60 calories per 16 oz bottle. It is formulated with vitamins and electrolytes and is designed to be a better-for-you sports drink for the whole family.
During her pitch on Shark Tank, Harris asked for $350,000 in exchange for 20% equity in her company. She received an offer from Barbara Corcoran for $100,000 in investment and a $250,000 line of credit for 30% equity.
Despite early hardships, Electra seems to still be in business with a modest online presence.
Electra is made with monk fruit, which is a natural sweetener that does not contain any calories or carbohydrates. The drink comes in a variety of flavors, including Passion Punch, Litty Lemonade, and Electra-berry.
Electra is marketed as a supernatural hydration drink that is a game changer for athletes and anyone looking for a healthier sports drink option.
What Is The Current Valuation Of Electra Sports Drinks Shark Tank?
Electra Sports Drink appeared on Shark Tank seeking $350,000 for a 20% stake in the company, which would have valued the company at $1.75 million.
However, Barbara Corcoran invested $350,000 in combined cash and line of credit for 30% equity, valuing the company at $1.17 million. As of June 2022, Electra Sports Drink was estimated to be worth $1.1 million.
Electra Sports Drink is a hydration beverage that offers more functionality than regular sports drinks but with lower sugar content and fewer calories. The drink comes in three flavors: Litty Lemonade, Passion Punch, and Oh Yeah! Orange.
Each 16 oz bottle contains only 60 calories. The company was founded by Fran Harris to provide a better hydration option for major sports drink brands, targeting “daily doers, hustlers, and athletes” .
Electra Sports Drink is still in business today and is available on the company website. The company currently has a special 15% Shark Tank discount with the code SHARK on its website. In 2020, Electra raised $40,000 from WeFunder and is targeting $80-$100 million in sales by the next 5 years.
What Happened To Electra Sports Drinks Shark Tank?
Electra is a sports hydration drink brand that appeared on Shark Tank in 2021. The founder, Fran Harris, created Electra after realizing how many calories and how much sugar was in some of the biggest sports drink brands on the market.
Harris felt that her sports drink, designed with physical wellness in mind, was a true winner. She asked for $200,000 in exchange for 20% of her business. Barbara Corcoran agreed to invest $100,000 and provide a $250,000 line of credit for 30% of the company. However, the deal was never closed.
After the show, Electra became popular and famous among youngsters. The funding that Harris raised from Shark Tank was going to be used for marketing.
Electra had a modest online presence, but as of 2023, it seems that Electra may have run out of energy. H.E.B. does not carry Electra, and Electra currently only sells powdery mixes through its e-store.
Electra has not posted on Twitter since 2021, Facebook since early 2022, nor Instagram since summer 2022. The estimated net worth of Electra Sports Drink is around $1.17 million as per the Shark investment. In 2020, Electra raised $40,000 from WeFunder
What is Electra Sports Drinks?
Electra Sports Drinks is a new sports drink beverage on the market. They provide a tasty and refreshing alternative to traditional sports beverages that helps with hydration while encouraging healthy living.
Who is the founder of Electra Sports Drinks?
Fran Harris is the founder of Electra Sports Drinks.
How much was she asking in the Shark Tank?
Fran Harris was asking for $350,000 for 20% equity in Electra Sports Drinks.
Did she get the deal from the Sharks?
Barbara Corcoran was the only Shark that made a bid for Electra. She offered $100,000 Cash + $250,000 Line Of Credit For 30% Contingent on Securing Partnership with Influencer.
Is Electra Sports Drinks still in business?
The company is still in operation, with headquarters in Austin, Texas, and a modest full-time personnel complement.
Customers who are thirsty can acquire its items for shipment immediately from their website and participating stores. They also sell a variety of branded clothing.
What are the ingredients in Electra Sports Drinks?
Contains only all natural juices and extracts. No artificial ingredients, no high-fructose corn syrup (HFCS), no refined sugars, and no salt in any of their flavours.
Who owns the Electra beverage?
When Dallas entrepreneur Fran Harris went out under the spotlights of ABC’s famous show ‘Shark Tank,’ she was searching for an investment to help her CPG firm Electra Beverages get off the ground.
Harris, a former WNBA player, founded the Dallas and Austin-based healthy sports drink company this autumn.
Why did you use watermelon and coconut water?
Aside from its hydrating capabilities, they discovered that by combining them, they made Electra stronger in taste and recovery.
What forms of payment do you accept?
All pricing are in US dollars. They are now only shipping to the United States (not including Alaska or Hawaii).
What episode was Electra Sports Drinks aired?
Electra Sports Drinks was aired season 12 episode 9.
Are they tasting vitamins?
They certainly are! Electra contains vitamins B, C, and D, as well as antioxidants, often known as “free-radical scavengers,” which assist in the prevention of inflammation and other health issues such as heart disease.
How many calories does Electra have?
Can they believe a 16-ounce bottle of Electra contains just 60 calories, 9 grams of sugar, and NO added sugars?
What is the shelf life of Electra?
They recommend that you consume it within 3-4 days of opening it. Bottles that have not been opened have a shelf life of 12 months. The “best by” date is printed on the bottle’s cap.
How many servings are there in a bottle of Electra?
One serving is contained in each 16oz bottle of Electra.
Is Electra available in powder form?
Yes, they are finalizing the powder formulae. They’ll like the ease of use of Electra powders. They will be available in the spring of 2021.
How should they keep Electra liquids?
That is entirely up to them, but a chilled Electra, like other hydration beverages, will never let them down. Don’t forget to give it a good shake before serving. Please keep refrigerated once opened.
Are Electra bottles recyclable and BPA free?
Yes, they are highly concerned about the environment. Please look at recycling programs in their area.
Is Electra safe to use while pregnant or nursing?
There have been no studies on pregnant or nursing women. According to a research on healtline.com, it is safe for children, pregnant women, and breast-feeding mothers.
They are retailers who wants to carry Electra, how do they connect?
Please contact email@example.com and they will respond as quickly as possible.
What is net worth of Fran Harris?
Fran Harris’s net worth is $1 Million.