Genius Juice Shark Tank Net Worth 2023
Alex Bayer’s decision to join the Tank with a bid of $250,000 for 7% stake in the firm, which translates to a total valuation of $3,571,428.57 shows their confidence and potential for growth.
Mark and Barbara offered the company an additional $500,000 investment for 25% equity thus raising the company’s value to $2 million.
In July 2022 they had achieved an impressive $12 million in lifetime sales, displaying their success as a result of Alex and team’s hard work as well as that of investors’ support.
What is Genius Juice?
Genius Juice is a company that produces a delicious smoothie by using the entire coconut, including both its water and flesh, to create a creamy, plant-based beverage. The company was founded by Alex Bayer in 2014, who funded the first batch of products through a successful Kickstarter campaign in May 2015.
Although there are other coconut water products available in the market, Genius Juice is the only coconut beverage that incorporates both coconut water and meat into a ready-to-drink smoothie. Bayer ensures that the entire coconut is utilized in the production process.
Through extensive research and experimentation with different varieties of coconuts, Bayer discovered that the Young Thai coconut found in Ratchaburi, Western Thailand, with its sweet and distinct flavor, was the ideal ingredient for his product.
The coconuts are harvested and transported to a manufacturing facility two miles away, where they are processed within 5-6 hours to ensure maximum freshness.
After harvesting the water and meat, Bayer repurposes the coconut husk to create coconut charcoal for detoxifying goods and also uses it as an alternate fuel source. In 2016, the company faced production challenges due to high demand, which resulted in a failed rebranding attempt and discontinuation of its products in some stores.
However, Bayer found a new manufacturer and resumed production. Genius Juice is now restocked in several retailers, including Natural Grocers and Whole Foods Market. Bayer believes that he can build a $100 million company by re-establishing his brand.
He plans to launch a WeFunder campaign on the night his episode airs, similar to a move made by a Shark, to help fund his expansion plans.
Genius Juice currently offers three flavors: original Mocha, Matcha, and Turmeric. With over a million dollars in revenue and 1,300 retail locations, Genius Juice has a unique product that appeals to health-conscious consumers.
What happen to Genius Juice at the Shark Tank Pitch?
In episode 12 of season 11 of Shark Tank, Alex presented his business and offered a $250,000 investment in exchange for a 7% ownership stake in the company, valuing the business at $3,571,428.57. Alex explained that his smoothies use the whole coconut, including the flesh and water, and offered samples to the Sharks.
The Sharks were impressed by the taste and nutritional value of the product and noted that the company had achieved sales of $376,000 in 2018 with projected sales of over $1 million in 2019.
However, the company has not yet turned a profit, and Alex and his family have invested $1.3 million in the start-up. Despite this, Alex believes that the business has the potential to achieve $100 million in revenue. The Sharks expressed concerns about the competition in the beverage industry and the challenges of securing shelf space for frozen foods.
Barbara offered a $250,000 investment in exchange for a 14% stake in the company, while Kevin offered a loan of $250,000 at a 9% interest rate in exchange for a 7% ownership stake. Mark approached Barbara and offered to buy a 25% stake in the company for $500,000, and Alex agreed to the deal.
Genius Juice after the Shark Tank Pitch
Mark and Barbara never finished their transaction. Alex’s WeFunder campaign, initially planned for the original show date, raised an impressive $2,255,106.
Moreover, the company is forecasting revenues of over $700,000 in the first quarter of 2020 and more than $900,000 in the second quarter of 2020. With such significant figures, Alex didn’t need Mark or Barbara’s involvement.
Furthermore, the company expanded into 2500 retail locations, including major retailers such as Whole Foods Market, Publix, Albertson’s, Walmart, Target, Smart & Final, as well as smaller mom & pop and regional chains.
The company also introduced a new flavor, Vanilla Cinnamon, and a line of smoothies. As of November 2021, the company was generating $6 million in annual revenue and growing.
Genius Juice Net Worth
Alex joins the Tank with a bid of $250,000 for a 7% stake in the firm. This shows a valuation of $3,571.428.57. Alex Bayer accepts the $500,000 investment for 25% from Mark and Barbara, thus valuing their Company at $2 million.
Genius Juice Competitors
Top Competitors of Genius Juice are categorized as follows;
Daily Harvest Inc., GreenBlender Inc., Sambazon Inc., Craft Caf LLC, Hampton Smoothie, Purps and Acai Roots Inc.
Genius Juice FAQS
Is it necessary to keep genius juice refrigerated?
Yes, this should be kept refrigerated.
Is genius juice healthy?
The smoothies from Genius Juice are USDA Organic, non-GMO, gluten-free, and soy-free.
They are vegan-certified and include a higher concentration of potassium and fibre than the top coconut water beverage.
Coconut flesh is an excellent source of healthful fats and medium-chain triglycerides, which are swiftly metabolized and offer virtually immediate energy.
What is the price of genius juice?
Finally, a coconut beverage that tastes just like it does straight from the coconut. They paid $49.99 for six pack.
Did genius juice get a deal?
According to Genius, the Shark Tank publicity has been a “HUGE game changer” for the firm, with the company generating $120,000 in online sales in less than 24 hours following the initial telecast. However, the transaction ultimately fell through.
According to WeFunder, the business “ultimately opted not to complete the deal.”
Is genius juice pasteurized or unpasteurized?
Due to the fact that Genius Juice is not pasteurized, it is considered a raw food.
The bottles are transported to a facility in Carson, where they are subjected to a three-minute burst of 87,000 pounds of water pressure.
This method eliminates germs without using heat to denature the enzyme.
Is coconut water a healthy beverage?
Coconut water is a refreshing, electrolyte-rich natural beverage that may assist their heart, help regulate their blood sugar, aid in renal health, and help them feel rejuvenated and hydrated following an exercise.
Who is the owner of Genius Juice?
Alex Bayer, CEO of Genius Juice, originally learned about the coconut smoothie from a vegan chef buddy.
She was talking about a new creation made entirely of ‘the whole coconut and nothing else.
What is Genius drink?
Genius Juice is the world’s first smoothie made entirely of organic coconut water and coconut flesh. When these two components are combined, they create a more delectable, richer, creamier, and thicker low-calorie beverage.
How is coconut useful?
Coconuts are particularly high in manganese, which is necessary for bone health and glucose, protein, and cholesterol metabolism.
Additionally, they are high in copper and iron, both of which aid in the formation of red blood cells, as well as selenium, a critical antioxidant that protects their cells.
What happens if you consume an excessive amount of coconut?
Consuming an excessive amount of coconuts can also be detrimental to their heart, increasing their chance of cardiovascular disorders such as heart attack, stroke, and irregular heartbeat.
Why is coconut harmful to their health?
Coconuts are rich in saturated fat, a contentious fat that has been linked to health problems when ingested in large amounts.
Additionally, coconut flesh is high in calories and may cause allergy reactions in certain people.
How many calories in Genius juice?
Each bottle of Genius Organic Coconut Original Smoothie ($49.99 for a six-pack) contains an entire coconut and is just 100 calories per bottle.
Does their product contain any gluten, dairy, soy?
None of the above. Their goods are certified gluten-free, soy-free, and vegan.
Are sugars, emulsifiers/gums, or concentrated sweeteners added?
They omit all of these.
Is their product safe for pregnant women?
Because the product has been pasteurized, it is not raw. They do urge that pregnant women seek medical advice prior to eating.
How long is the product valid after it is opened?
Due to the lack of preservatives, they strongly advise them to eat their product within 24 hours after opening.
Is there any caffeine in your products?
Their only caffeine-containing flavour is the Mocha Coconut Smoothie, which has 6mg, a very little quantity of caffeine per bottle.
Why plastic instead of glass?
They use BPA-free plastic bottles to avoid any complications while shipment (broken glass, glass fragments).
This is for consumer protection and to ensure that a product is safe when it arrives in stores or at their door.
What is their return policy?
Due to the perishable nature and sensitivity of their goods, they are unable to accept refunds or exchanges.
If they got an inaccurate order or a damaged/defective product, please contact them at [email protected]geniusjuice.com and they will promptly rectify the situation.
What is the net worth of Alex Bayer?