Moment Drink Shark Tank Net Worth 2023
The company which was valued at $1 million during its Shark Tank pitch in 2021 has seen a huge increase in its net worth due to their successful sales and revenue generation of $5 million. This is an impressive feat, showing their incredible growth this past year.
As of February 2023, the company remains in business with an annual revenue still at the same level of $5 million. Clearly, this success can be attributed to their innovative strategies and diligent execution which have allowed them to stay profitable despite difficult market conditions.
What is Moment Drink? Who Founded Moment Drink?
Moment Drink is a canned beverage that utilizes natural ingredients sourced from botanical water to reduce stress.
It is free from harmful substances such as caffeine, added sugars, and artificial sweeteners. The drink is offered in four still water and two sparkling water flavors.
The individuals behind Moment Drink are Aisha Chottani and Faheem Kajee. Aisha, who has a degree from Harvard Business School, is the CEO of Moment Drink and has had numerous leadership positions.
Faheem, a venture capitalist and entrepreneur, is on Moment’s board of directors while also launching other businesses.
The two first met while working at McKinsey and Company in South Africa, and the concept for Moment Drink developed after Aisha discovered the advantages of meditation during her tenure at McKinsey.
Moment Drink won the BevNET New Beverage Showdown and is currently available in three flavors: hibiscus dragon fruit, rooibos blood orange, and tulsi lemon. It is Amazon’s top-selling flavored water and can be purchased directly from their website.
Moment Drink Shark Tank Pitch
Even though they had already launched their product, the two couples sought the assistance of investors on Shark Tank to expand their product’s reach to retail locations worldwide.
During their pitch, Aisha and Faheem offered a 10% stake in their company for $200,000, with a company valuation of $2 million.
They highlighted that their product, Moment, is a top-selling flavored water available in three flavors: hibiscus dragon fruit, rooibos blood orange, and tulsi lemon.
Additionally, they pointed out that Moment is free of sugar and caffeine, and customers can purchase it directly from their website at $21 for a six-pack and $35 for a 12-pack.
They also offer a subscription option, with a 12-pack priced at $29 for customers who sign up for delivery every two weeks or monthly.
Although the Sharks were impressed with the product, they were not keen on the business model, especially the subscription-based approach.
Kevin O’Leary and other Sharks considered it a poor idea, leading Aisha and Faheem to exit the show without a deal.
Nevertheless, despite the setback, the company continued to operate and make progress gradually. Two months after their appearance on Shark Tank, the company is still in operation, with an active social media presence. In 2021, the company generated $5 million in sales revenue.
Net Worth of Moment Drink
The company was valued at $1 million during the Shark Tank pitch and since then they have makes sales and generate revenue of $5 million in 2021 which mean the net worth have also raise. As of January 2023, the company is still in business with an annual revenue of $5 million.
Moment Drink FAQs
What is Moment Drink?
Moment Drink is an anti-stress meditation in a can beverage that claims to be free of caffeine, added sugars, artificial sweeteners, and other nasty.
It is instead manufactured from naturally derived botanical water and is available in four still water and two sparkling water flavors.
Who is the founder?
Aisha Chottani and Faheem Kajee are the company’s founders.
What is their offer at Shark Tank?
They were seeking for $200,000 for a 10% stake in their company, which was valued at $2 million.
Did they get an offer?
No, the Sharks did not make an offer to Aisha and Faheem.
What was their revenue?
The company generates revenue of $5 million in 2021.
Who are some competitors?
None as such as they are first to do such business.
What is their niche?
The firm’s focus is primarily on providing “anti-stress mediation in a can”. It also creates retail packages and sells directly to customers online, in stores, and through mail order.
Is still in business?
Yes, the company is still in business due to the enormous response that they have received.
How are people reacting to this product?
The soda that fights stress is being regarded as a potential game changer.
The drink contains ingredients that are proven to combat the ill effects of stress on the body, without resorting to sugary sodas and energy drinks. Stop stress with this calming beverage.
The company’s founders believe it is also a promising business venture. There is a growing demand for non-alcoholic beverages that can help people with an active lifestyle to relax and unwind after a hard day’s work.
How to order the product?
One can order their product from their official website or if you don’t want to buy online you can also find Moment at Whole Foods, Rainbow Grocery and in their local Bay Area stores in California.
How is the business model?
The company makes its revenue by selling the lemonade and the rooibos teas directly to customers, as well as through e-commerce channels. Moment’s products are sold at grocery stores and retail chains.
How do they make money?
The company makes its revenue primarily through online retail and direct-to-consumer sales. They make money off of subscription services and wholesale distribution arrangements.
Other than the lemonade and rooibos teas, what else do they make?
The company’s founders believe their “anti-stress drink” will appeal to both men and women.
Both sexes claim that they could benefit from this product due to its release of relaxation hormones in the body after consumption.
Is the company profitable?
Yes, the company is profitable.
When was the company founded?
The company was founded in 2019.
Is it legit?
Yes, the company is legit.
Is any opportunity?
Yes, the opportunity of this great product.
How do I contact them?
You can contact them by emailing them at [email protected] or call at (866) 531-0539, or write their address on mailing address.
Is there any marketing strategy?
The company has an extensive social media presence including Twitter, Instagram, and Facebook.
How much will it cost?
The retail price of the product at Amazon was $39.99 for 12 packs.
What makes this one unique if compared to others?
The drink is sugar-free and not loaded with artificial additives.
The other advantage is that the drink does not contain caffeine or added sugar, making it ideal for patients who need caffeine-free help relaxing after a long day.
