Thrive Alcohol Health Shark Tank Net Worth
Thrive+ (now known as Cheers) is a dietary supplement that cures hangovers developed by Princeton graduate Brooks Powell.
It was featured in Shark Tank’s final episode of Season 9, where he requested $400,000 in exchange for 10% equity. This equates to a $4 million net worth, and the company’s net worth is currently estimated to be $5 million as of February 27, 2023.
In 2019, Thrive+ closed a $2.1 million seed round.
What is Thrive Alcohol Health and Who is the Founder of Thrive Alcohol Health?
Thrive Alcohol Health, also known as Cheers, is a dietary supplement that can be taken after drinking alcohol to alleviate its negative effects on the body.
It contains Dihydromyricetin (DHM), a chemical commonly used in traditional Chinese medicine, which has recently been scientifically proven to be an effective aid for alcohol recovery.
The supplement is a patented molecule that combines DHM with a proprietary ingredient to increase bioavailability and effectiveness.
The founder of Cheers is Brooks Powell, who started the company while still in college. He was inspired to create the product after reading a study that showed DHM was able to sober up mice.
Powell set out to determine if the same effects could be replicated in humans and developed a supplement that would eventually make him a billionaire.
Cheers market the supplement as a vitamin to be taken when drinking alcohol, and the company does not promote drinking or alcoholism. Powell wants the product to be a complement for social drinkers rather than encouraging alcohol misuse.
The supplement removes the sluggishness and dehydration that come with hangovers when taken after a night of drinking.
Powell originally intended to market the supplement to college students, but data from Amazon sales show that it is most commonly purchased by adults aged 35 to 54. Cheers’ motto is “Enjoy Tonight, Thrive Tomorrow,” and a 30-pill container can be purchased on Amazon for $30.
Thrive Alcohol Health the Shark Tank Pitch
During Season 9 Episode 24 of Shark Tank, Brooks presented his company seeking $400,000 for a 10% stake in the business, valuing it at $4 million.
He presented his pitch, offering samples and explaining the research behind the active ingredient, Dihydromyricetin, and how he had obtained a patent for the formula.
However, Mark called his claims “BS” throughout the conversation and was the first Shark to back out due to his lack of investment in supplements. Robert also left the deal, claiming that he never got the opportunity to learn about the product.
Bethenny left the agreement because she found marketing in the sector too complicated, and Lori didn’t invest because she felt that Brooks needed to conduct more testing and validation.
Daymond left because he felt that the marketing budget was too high, and the sector was too competitive. As a result, Brooks left the show without an investor for Thrive+.
After the intended premiere date, the company changed its name to Thrive Global, and a year later, in February 2019, Brooks completed a $2.1 million investment round and completely rebranded the company to Cheers.
In 2021, he sought public funding at a $49 million value, and as of June 2021, Cheers is still in operation, generating $3.5 million in annual sales. In September 2021, the firm launched a Start Engine campaign to collect funds for its retail entry.
Brooks explained the name change to a Houston-area newspaper, stating that they wanted a name that was suitable for the alcohol industry and conveyed the concepts of fun, responsibility, and health.
Thrive Alcohol Health Net Worth
Brooks appears on Shark Tank Season 9 Episode 24 in search of $400,000 for a 10% stake in his company. This equates to a $4 million valuation.
Thrive Alcohol Health Competitors
There is no competitor identified for Thrive Alcohol Health
Thrive Alcohol Health Shark Tank Updates
Thrive+ is an after-alcohol aid created by Brooks Powell that was featured on Season 9 Episode 24 of Shark Tank. Powell sought $400k for a 10% stake in his company, but was unable to make a deal.
Thrive+ combines Dihydromyricetin with a proprietary substance that makes it more bioavailable, meaning that it is a stronger alcohol aid than Dihydromyricetin alone.
However, on Shark Tank, Thrive+ had a poor reception, and all the Sharks quickly went out in sequence. Mark Cuban was convinced before the pitch began that Thrive+ had to be exaggerating its claims, and rarely gave Powell a fair chance at developing his pitch.
Despite the inability to make a deal, the appearance on Shark Tank was a big boost for Thrive+. More than 10,000 visitors went to the website within 10 minutes of the show airing. Since then, Thrive+ has changed its name to Cheers.
The company is still in business and has since reached $20 million in total gross revenue over the life of the company. As of February 27, 2023, the company’s net worth is estimated to be $5 million. Cheers is still selling its after-alcohol aid on Amazon for $30 for a 30 pill jar.
In September 2021, the company launched a Start Engine campaign to raise funds to get into retail, which raised $1,764,919.
Thrive Alcohol Health Shark Tank Table Summary:
| TOPIC | DESCRIPTION |
| Product name | Thrive Alcohol Health (also known as Cheers) |
| Founder | Brooks Powell |
| Shark Tank appearance | Season 9 Episode 24, seeking $400,000 for 10% equity |
| Valuation | $4 million during Shark Tank appearance, $5 million as of February 27, 2023 |
| Funding | Closed $2.1 million seed round in 2019, raised $1,764,919 in Start Engine campaign in September 2021 |
| Product description | A dietary supplement containing Dihydromyricetin (DHM) that can be taken after drinking alcohol to alleviate its negative effects on the body |
| Target market | Originally intended for college students, but most commonly purchased by adults aged 35-54 |
| Net worth | $5 million as of February 27, 2023 |
| Competitors | No identified competitors |
| Updates | Thrive+ changed its name to Cheers after Shark Tank appearance; the company is still in business, generating $3.5 million in annual sales; raised funds to get into retail through a Start Engine campaign in September 2021 |
| Key ingredient | Dihydromyricetin (DHM) |
| Motto | “Enjoy Tonight, Thrive Tomorrow” |
| Price | $30 for a 30-pill jar on Amazon |
| Annual sales | $3.5 million (as of June 2021) |
Thrive Alcohol Health FAQS
What Is Thrive Alcohol Health And How Does It Work?
Thrive Alcohol Health is a brand of products designed to reduce the negative effects of consuming alcohol. It is an after-alcohol aid intended for use anytime you consume alcohol.
The product contains Dihydromyricetin (DHM), a substance found frequently in Chinese herbal medications, which has been scientifically shown to be effective as an alcohol recovery aid.
Thrive+ is a patented compound that combines DHM with a proprietary substance that makes it more bioavailable, meaning that Thrive+ is a stronger alcohol aid than DHM alone.
Thrive+ works by reducing short-term alcohol withdrawal, replacing lost vitamins, and providing the liver with what it needs to break down alcohol and its toxic by-products.
The product is based completely on clinical research done in scientific publications such as The Journal of Neuroscience. The product is designed to mitigate the negative effects of alcohol, including dehydration, oxidative stress, and short-term alcohol withdrawal.
Thrive Alcohol Recovery, on the other hand, is a program that uses a safe, non-addictive medication that is scientifically proven to help reduce alcohol cravings, have easier alcohol-free days, and have an “off-switch” when drinking.
The program uses medication combined with gradual lifestyle changes to help individuals who struggle with problem drinking.
Who is founder of Thrive Alcohol Health?
Brooks Powell founded Thrive+.
What Was The Outcome Of Thrive Alcohol Health Shark Tank Pitch?
Thrive+ is an after-alcohol aid created by Brooks Powell that was featured on Season 9 Episode 24 of Shark Tank. Powell sought $400k for a 10% stake in his company, but was unable to make a deal.
The Sharks had major concerns about the legitimacy of the company’s claims, and Mark Cuban didn’t believe that the product could make claims about curing hangover symptoms.
Powell had difficulty taking control of the pitch, and was unable to get into Thrive+’s financial figures or comparison with the competition in any detail. As a result, all the other Sharks quickly went out in sequence.
Despite the inability to make a deal, the appearance on Shark Tank was a big boost for Thrive+. More than 10,000 visitors went to the website within 10 minutes of the show airing. Thrive+ has since changed its name to “Thrive Global”.
The product’s high 4-star Amazon rating reflects the product’s performance, with over 327 reviews. Thirty capsules are $34.99, although bulk discounts are available when purchasing two or more bottles.
What Happened To Thrive Alcohol Health After Its Appearance At The Shark Tank?
Thrive+ is an after-alcohol aid created by Brooks Powell that was featured on Season 9 Episode 24 of Shark Tank. Powell sought $400k for a 10% stake in his company, but was unable to make a deal.
Despite the inability to make a deal, the appearance on Shark Tank was a big boost for Thrive+. More than 10,000 visitors went to the website within 10 minutes of the show airing.
Thrive+ contains Dihydromyricetin, a substance found frequently in Chinese herbal medicine, which is combined with a proprietary substance that makes it more bioavailable.
The capsules work by reducing GABAa rebound, replacing lost vitamins, and supporting the liver, which has the function of breaking down alcohol’s toxic by-products. The key ingredient, Dihydromyricetin, is a natural extract that made the FDA process smooth sailing.
After the Shark Tank appearance, Thrive+ rebranded to Cheers. The company recently closed a $2.1 million seed round led by NextView Ventures. With the new investment, Cheers plans to expand its product line and increase its marketing efforts.
The rebranding was necessary because Thrive+ did not say anything about what the company did or who they were about. Cheers is a more fitting name for the alcohol industry and has the connotation of fun, responsibility, and health.
How much was he seeking in the Shark Tank?
Brooks sought $400,000 for a 10% stake in Thrive+.
Did he get the deal from the Shark Tank?
No. Sharks did not invest in Thrive Alcohol Health.
Is Thrive Alcohol Health still in business?
Yes, Brooks is still CEO and co-founder of Cheers. Brooks rebranded the Company as Cheers.
What episode was Thrive Alcohol Health featured on Shark Tank?
Thrive Alcohol Health appeared on Shark Tank Season 9 Episode 24.
When was Thrive Alcohol Health aired on Shark Tank?
Thrive Alcohol Health was aired on Shark Tank on February 25th, 2018.
Where can they buy Cheers?
It is available at both Amazon and Cheers Website.
Did Shark Tank invest in thrive?
Despite the fact that he did not obtain an investment from the Shark Tank crew, his firm grew tremendously over the next several years as a result of the attention he received from appearing on the show.
Why did thrive Change Name to cheers?
“They wanted to become Cheers as soon as possible since it would only get harder with time,” he explains.
The recipe for Cheers isn’t new. The crucial component, Dihydromyricetin, is a natural extract — similar to caffeine in coffee — that made the FDA procedure go smoothly.
Does Cheers work for hangovers?
Cheers has introduced a rehydration solution in addition to its hangover pills, which they recommend they purchase in order to reap the most benefits.
According to their website, they promise a 50% reduction in hangover symptoms such as nausea, headache, lack of energy, and attention difficulties.
Does cheers alcohol aid work?
Cheers (formerly known as Thrive+) lessens the harmful effects of alcohol. In a human trial for their approved patent, individuals reported feeling 50% better the next day across eight common complaints.
Simply take 2-4 pills following their previous drink.
What is the active ingredient in cheers?
The founder of Thrive+ refers to this product pair as “sunscreen for alcohol,” and the main constituent is a chemical known as Dihydromyricetin (DHM).
Does DHM work for hangovers?
“DHM will lessen the degree of intoxication for the quantity of alcohol consumed and will undoubtedly reduce the hangover symptoms.”
How long will it take to ship?
If people place an order on their website by 3 p.m. CT, it will be sent the same business day. Orders ordered after 3 p.m. CT and/or on non-business days will be sent the next business day.
What is the net worth of Brooks Powell?
Brooks Powell’s net worth is unavailable.
