Fizzics Home Beer Dispenser Shark Tank Net Worth 2023

Fizzics experienced a major jump in company valuation when Lori and Mark invested, taking it from $12.5 million to $12 million.

This investment was met with positive returns in 2021 when the company generated annual revenue of $4 million, which justified the increased net worth. Since then, Fizzics’ net worth has kept rising and is currently valued at approximately $4 million as of 2022.

What is Fizzics Home Beer Dispenser?

The Fizzics Home Beer Dispenser is a device designed to enhance the taste and texture of your beer. It has the ability to turn any beer into a smooth and creamy nitro-style flow, which takes your bottled or canned beer to a whole new level. If you need a larger capacity, you can opt for the Fizzics Original, which can hold up to 64 oz.

The Fizzics machine works by converting carbonation into tightly compressed and consistent Micro-Foam bubbles, creating a smoother, creamier, and frothier beer. This result is similar to that of a freshly poured draft beer or a keg from a small brewery.

The founders of Fizzics, Philip Petracca, and David McDonald, have a vision of making every beer taste as if it was poured directly from a tap. To achieve this, the Fizzics machine utilizes sound wave technology to simulate a tap beer experience.

Who is the founder of Fizzics Home Beer Dispenser?

The company was founded by Philip Petracca and David McDonald from New Hope, Pennsylvania. They were curious about why beer always tasted better from a tap, which inspired them to embark on a year-long journey to create the Fizzics Technology Platform.

During this time, they experimented and developed their invention through trial and error. They turned to crowdfund platform IndieGoGo to raise funds, where they successfully raised over $250,000.

The Fizzics Technology Platform uses ultrasonic waves to apply pressure to any type of beer, enhancing its flavor instantly. Simply pour up to 64 ounces of beer into the device to enjoy a more carbonated beer with a creamy head.

The technology is compatible with all types of beer and allows users to customize the level of carbonation according to their preferences.

To dispense beer, a lever similar to that of a tap is used. Cleaning is easy – simply run clean water through the machine and remove the anti-microbial mat for regular cleaning. It is powered by four AAA batteries and costs around $165.

What Happened to Fizzics Home Beer Dispenser at Shark Tank Pitch?

In the first episode of Shark Tank’s eighth season, Phil Petracca and David McDonald presented Fizzics, a patent-pending technology that enhances the taste of beer. The entrepreneurs hoped to secure a deal with one of the Sharks to assist with production and marketing.

During the pitch, Phil and David requested $500,000 for a 4% stake in their company, which was valued at $12.5 million. They shared their story and provided the Sharks with samples.

Each Shark received a standard drink and a beer from the Fizzics machine, and they all agreed that the Fizzics beer tasted better. However, Mr. Wonderful was not pleased with the price.

The Sharks were impressed when the entrepreneurs revealed that they had generated $3.2 million in sales in less than a year, with high-profit margins: selling for $199 while only costing $38 to produce.

After some negotiation over the equity and pricing, Robert offered $500,000 for an 8% stake, while Kevin made a similar offer, claiming he could sell more than any of the other Sharks.

Barbara was skeptical and chose to pass, while Daymond questioned why they needed a Shark’s investment when they were already generating positive cash flow and left the deal.

Lori expressed interest, believing that Fizzics could sell well on television, and offered the same deal as Robert and Kevin. Mark then made an offer of $800,000 for a 10% stake and invited Lori to partner with him.

Phil countered with an offer of $2 million for a 16.67% stake, which Mark and Lori ultimately accepted, and they left the pitch with a deal.

Summary Table: Fizzics Home Beer Dispenser Shark Tank

INFORMATION	DETAILS
Founders	Philip Petracca and David McDonald
Product	Fizzics Home Beer Dispenser
Technology	Ultrasonic waves applied to beer to enhance flavor
Investment on Shark Tank	$2 million for a 16.67% stake from Mark Cuban and Lori Greiner
Revenue in 2021	$4 million
Valuation during Shark Tank pitch	$12.5 million
Valuation after Shark Tank investment	$12 million
Current net worth (2022)	Approximately $4 million
Competitor	Kegerator Beer Cooler
Bankruptcy	Filed for Chapter 11 in 2019, emerged in 2020
Current involvement of Mark and Lori	No longer involved in the company

What Happened to Fizzics Home Beer Dispenser after Shark Tank?

After the program aired, Mark, Lori, and Fizzics Home Beer Dispenser reached a final agreement, and the men left with a deal.

The day after the show aired, they launched a smaller and more affordable version of the dispenser on QVC. Eventually, the product was sold in Target, Bed Bath & Beyond, Brookstone, Amazon, and other stores.

In 2017, Phillip left the company to open his own craft brewery in Colts Neck, New Jersey. Unfortunately, the firm filed for Chapter 11 bankruptcy in March 2019.

However, the company was able to emerge from Chapter 11 bankruptcy protection a little over a year later by successfully completing a debt restructuring and implementing a reorganization plan confirmed by the United States Bankruptcy Court for the District of Delaware on March 26, 2020, according to a press release.

As of December 2021, the company is still in operation and generates yearly revenues of approximately $4 million. However, Mark and Lori are no longer involved in the company.

Competitors of Fizzics Home Beer Dispenser

A similar product as Fizzics Home Beer Dispenser is Kegerator Beer Cooler.

Net Worth of Fizzics Home Beer Dispenser

The company valuation was $12.5 million during the pitch, after the investment done by Lori and Mark the company was worth $12 million.

Since then the company has been doing well with annual revenue of $4 million in 2021. This justifies that the company’s net worth had elevated.

Fizzics Home Beer Dispenser Shark Tank Updates

Fizzics is a personal beer dispenser that enhances the flavor of bottled or canned beer by using sound wave technology to imitate a tap beer. Fizzics appeared on Shark Tank in 2016 and received a deal from Mark Cuban and Lori Greiner of $2,000,000 for 16.67% equity.

After the show, Fizzics debuted a smaller, less expensive model and eventually got into Target. However, in 2019, Fizzics filed for Chapter 11 bankruptcy, which was described by founder Philip Petracca as “surprising and disappointing”.

Since then, Fizzics has had a bit of a rocky journey. Petracca left the company in 2017 to start a craft brewery in Colts Neck, NJ. As of August 2022, the net worth of Fizzics is $4 million.

Despite the bankruptcy, Fizzics has received positive reviews from numerous well-known magazines and websites, including Yahoo! Tech and cNet.

Fizzics Home Beer Dispenser FAQs

What Is Fizzics Home Beer Dispenser Shark Tank?

Fizzics Home Beer Dispenser is a product that appeared on Shark Tank Season 8 Episode 1. The founders, Philip Petracca and David McDonald pitched their product to the sharks, which aims to make every beer taste like it’s straight from the tap.

Fizzics does this by using sound wave technology to imitate a tap beer. The Fizzics machine enhances the flavor of any beer and offers a smooth and creamy nitro-style pour. The beer gets drawn from the Fizzics machine with a tap-like lever.

Clean-up is easy: just run clean water through the machine and periodically remove the anti-microbial mat for cleaning. It runs on four AAA batteries and costs around $165.

Mark Cuban and Lori Greiner made a deal with the founders of Fizzics for $2,000,000 for 16.67% equity. However, the company has had a bit of a rough time and had to file for bankruptcy.

How Does Fizzics Home Beer Dispenser Shark Tank Work?

Fizzics Home Beer Dispenser is a product that uses Micro-Foam Technology to produce a perfect pour of beer. The technology leverages sound waves and fluid dynamics to maintain the carbonation within the beer and produce a perfect mouthfeel.

The DraftPour Beer Dispenser is a third-generation product featuring the patented Micro-Foam technology. The dispenser can pour any size can or bottle of beer under pressure at a controlled rate.

The Fizzics Home Beer Dispenser appeared on Shark Tank Season 8 Episode 1. Founders Philip Petracca and David McDonald pitched their product to the sharks, which aims to make every beer taste like it’s straight from the tap. Fizzics does this by using sound wave technology to imitate a tap beer.

The Fizzics Home Beer Dispenser is easy to use and clean. The beer gets drawn from the Fizzics machine with a tap-like lever. Clean-up is easy: just run clean water through the machine and periodically remove the anti-microbial mat for cleaning. The dispenser runs on four AAA batteries and costs around $165.

Petracca and McDonald likely wanted a Shark to help with production and marketing. Mark Cuban and Lori Greiner agreed to invest $2 million in Fizzics for a combined 16.67 percent equity. However, Fizzics filed for Chapter 11 bankruptcy in 2019.

Is Fizzics Home Beer Dispenser Shark Tank Still In Business?

Fizzics Home Beer Dispenser appeared on Shark Tank in 2016 and received a deal from Mark Cuban and Lori Greiner for $2 million in exchange for 16.67% of the company. However, in 2019, Fizzics filed for Chapter 11 bankruptcy.

The bankruptcy was described as “surprising and disappointing” by one of the founders, Philip Petracca.

Despite the bankruptcy, Fizzics was able to recover and completed a debt restructuring and reorganization plan in 2020. Today, Fizzics is still in business and selling its third-generation product, the DraftPour portable home beer dispenser.

It is unclear if the Sharks still have any involvement in the company. Blue Water Ventures Two LLC, which is owned by Lori Greiner, reportedly wanted $75,775 of commissions from Fizzics back in 2019, which Fizzics disputed when it filed for bankruptcy.

One of the founders, Philip Petracca, left the company to make craft beer in New Jersey. Fizzics’ management team now includes CEO Thomas Steckbeck and David McDonald.

What Is The Current Valuation Of Fizzics Home Beer Dispenser After Shark Tank?

Fizzics Home Beer Dispenser appeared on Shark Tank in 2016 and received a deal from Mark Cuban and Lori Greiner for $2,000,000 for 16.67% equity, valuing the company at $10 million.

The company’s valuation increased from $12.5 million to $12 million after the investment from Mark and Lori. The same article also states that Fizzics’ net worth is currently valued at approximately $4 million as of 2022.

It is important to note that there are some discrepancies in the information provided by the sources.

While the source state that the valuation of Fizzics was $10 million after the Shark Tank deal, the source claims that the valuation increased from $12.5 million to $12 million after the investment.

Additionally, the source mentions that Fizzics declared bankruptcy in March 2014, which is before the company appeared on Shark Tank in 2016.

In summary, the current valuation of Fizzics Home Beer Dispenser after Shark Tank is unclear due to conflicting information from the sources.

How much were they asking on Shark Tank?

They were asking for $500,000 for a 4% stake in their business, which is worth $12.5 million.

Did they have the deal?

Yes, they did a deal with Mark Cuban and Lori Greiner.

How much was the deal?

They offered $ 2 million for 16.67% equity shares of the business, which is worth $12 million.

Is Fizzics Home Beer Dispenser still in business?

The business is still in operation as of December 2021, while Mark Cuban and Lori Greiner have left the business.

Where is Fizzics Home Beer Dispenser located?

The business is located in New Hope, Pennsylvania, USA.

What technology does Fizzics Home Beer Dispenser use?

Fizzics Home Beer Dispenser uses ultrasonic waves to improve the flavor of the beer.

Where is the Fizzics Home Beer Dispenser website?

Fizzics Home Beer Dispenser is www.fizzics.com

How much did Fizzics Home Beer Dispenser raise in IndieGoGo?

Initially, they were funded by the IndieGoGo crowd funding campaign in which they raised $250,000. The creators of the device are Philip Petracca, co-founder, and David McDonald, co-founder.

Where can I find Fizzics Home Beer Dispenser?

Fizzics Home Beer Dispenser is available on Amazon and other online stores at a price of $199.

How Does Fizzics Home Beer Dispenser Work?

Fizzics operates on sound waves. Ultrasonic waves are pumped into the beer and cause it to expand, making it frothy and creamy.

In addition, the combination of ultrasonic waves and the CO2 gas in the bottle by forcing bubbles through a micro-foam matrix creates stable foam at high pressure.

How do I pour Fizzics Home Beer Dispenser?

Fill a glass half full with beer, then set Fizzics on top of the glass. Press down until hearing a beep. Gently lift Fizzics, and pour with foam.

What does the Fizzics Home Beer Dispenser look like?

Fizzics Home Beer Dispenser looks like a tall metal canister that sits on top of your beer glass. It is about 19” tall and weighs about 3 pounds.

What episode did Fizzic’s Home Beer Dispenser appear in?

In Shark Tank episode 801, the season 8 premieres, Phil Petracca and David McDonald present Fizzics, a patent-pending technology that improves the flavor of any beer.

How does Fizzics DraftPour function?

The Fizzics DraftPour distributes beers from most types of packaging through a tap, exactly like at a bar, and then uses sound waves to build a rich, micro-foam head on it.

Pulling the tap handle forward pours the beer; moving the handle back at the end of the pour adds micro-foam.

How much money did Fizzics Home Beer Dispenser make?

Fizzics had only been distributing its product for eight months when it raked up $3.2 million in revenue and a $220,000 profit. Furthermore, each Fizzics machine costs slightly more than $35 to manufacture and retails for $199.

What is the net worth of Philip Petracca?

The net worth of Philip Petracca is not available.

What is the net worth of David McDonald?

The net worth of David McDonald is not available.

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