Fizzics Home Beer Dispenser Shark Tank Update| What Happened to Fizzics Home Beer Dispenser after Shark Tank
What is Fizzics Home Beer Dispenser?
Fizzics Home Beer Dispenser is a device that transforms any beer into a smooth and creamy nitro-style flow, elevating your bottles and cans to new heights. Try the Fizzics Original for a bigger capacity, which can hold up to 64 oz.
The Fizzics machine converts carbonation into tightly compressed, consistent Micro-Foam bubbles, resulting in a smoother, creamier, and frothier beer, akin to a freshly poured draft beer or a keg from a small brewery.
Founders Philip Petracca and David McDonald want every beer to taste like it came directly from the tap. Fizzics does this by simulating a tap beer experience with sound wave technology.
Who is the founder Fizzics Home Beer Dispenser?
Philip Petracca and David McDonald of New Hope, Pennsylvania, founded the company. After pondering aloud why beer always tastes better from a tap, the couple embarked on a year-long adventure to create the Fizzics Technology Platform.
They explored, investigated, and developed their innovation by trial and error. They resorted to IndieGoGo to crowd fund it and raised more than $250,000!
The device works by applying pressure from ultrasonic waves to any beer to improve its flavor. Simply pour any beer up to 64 ounces into the vessel to boost the flavor instantaneously.
The waves boost the carbonation of the beer and provide a thick, creamy head. It works with any kind of beer and allows consumers to adjust the degree of carbonation to their liking.
A tap-like lever is used to pull beer from the Fizzics machine. Cleaning is simple: simply run clean water through the machine and remove the anti-microbial mat for cleaning on a regular basis. It is powered by four AAA batteries and costs roughly $165.
What Happened to Fizzics Home Beer Dispenser at Shark Tank pitch?
In Shark Tank episode 1, the season 8 premieres, Phil Petracca and David McDonald pitch Fizzics, a patent-pending technology that improves the flavor of any beer.
Petracca and McDonald are presumably looking for a Shark to assist with production and marketing.
Phil and David enter the Shark Tank pitch seeking $500,000 for a 4% stake in their firm, which worth $12.5 million. They share their narrative and provide samples.
Each Shark was given a standard drink and a beer from the machine, and they unanimously agreed that the Fizzics beer was better. Mr. Wonderful is pleased with the goods but not with the price.
The Sharks were amazed when the boys revealed they made $3.2 million in sales in less than a year. They also enjoy the margins: they sell for $199 but only cost $38 to build.
Following considerable discussion regarding the pricing, Robert makes an offer of $500,000 for 8% equity shares in the firm. Kevin makes the same boast, asserting that he can sell more than any of the Sharks.
Barbara thinks it all seems too wonderful to be true, and she goes out. Daymond is curious as to why they’re here given that they’re cash flow positive. He exits as the Sharks continue to speak over each other.
Lori expresses interest because she believes it would sell well on television. She provides the same services as Robert and Kevin. Mark steps in with an offer of $800,000 for 10% stake in the firm and ask Lori if she wants to partner up.
Phillip counters with $2 million for 16.67% equity shares, Mark and Lori accept the deal, and they finally depart the pitch with a deal.
What Happened to Fizzics Home Beer Dispenser after Shark Tank?
The deal with Mark, Lori, and Fizzics Home Beer Dispenser was finalized after the program aired and the men departed the pitch with a deal.
They released a smaller, less costly variant on QVC the day after the show aired. They ultimately made their way into Target, Bed Bath & Beyond, Brookstone, Amazon, and other stores.
Phillip departed the firm in 2017 to open his own craft brewery in Colts Neck, New Jersey. The firm declared Chapter 11 bankruptcy in March of 2019.
A little more than a year later, the “company emerged from Chapter 11 bankruptcy protection by successfully completing a debt restructuring and implementing the reorganization plan confirmed in the United States Bankruptcy Court for the District of Delaware on March 26, 2020,” according to a press release.
The company is still in operation as of December 2021, although Mark and Lori are no longer participating. The company’s yearly revenues are around $4 million.
Competitors of Fizzics Home Beer Dispenser
The 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 worth $12 million.
Since then the company have been doing well with annual revenue of $4 million in 2021. This justify that the company net worth had elevated.
Fizzics Home Beer Dispenser FAQs
What is Fizzics Home Beer Dispenser?
Fizzics Home Beer Dispenser is a device that converts carbonation into Micro-Foam Bubbles for better taste in beer.
Who is the inventor?
Philip Petracca and David McDonald founded Fizzics Home Beer Dispenser.
How much were they asking on Shark Tank?
They were asking for $500,000 for 4% stake of their business, which 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 $2million for 16.67% equity shares of the business, which 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 beer.
Where is 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 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 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 Fizzics 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.