Shark Tank

What Happened To Chill Soda After Shark Tank?

“Chill Soda” aspires to become the most crucial sugar-free soda alternative. Sweetened with agave nectar, these beverages are free of high fructose corn syrup and simple sugars. 

The product claims to taste the same as conventional sodas. However, alternative sweeteners like agave nectar and stevia were popular when the product was launched. 

However, sugar-free carbonated beverages like La Croix have primarily supplanted the industry and are taking up more and more shelf space within grocery stores. Several alternate sweeteners failed to work.

You’re probably familiar with PepsiCo, the world’s largest manufacturer of soft drinks and sodas, but have you heard of something called “Chill Soda”? 

I still find that perfectly acceptable, even though I was completely unaware of it. 

The Shark Tank TV viewers must have been familiar with Chill Soda, however? You’re right, and it’s Dan Mackey, as seen in season 1, episode 9 of 2008/2009.

It is considered the healthier alternative beverage line since it tastes great, has half the calories of other sodas and is also nutritional.

Daniel Mackey, the developer of Chill Soda, a self-proclaimed marketer and admitted beginner entrepreneur, brought it to market. 

Chill Soda is a low-glycemic, organic beverage sweetened with agave nectar and free of corn syrup.

Chill Soda Founder Story

Dan Mackey founded chill Soda Company in Sausalito, California. While he admits to being a beginner entrepreneur, he describes himself as a marketer. 

Growing up on the family trout farm, his problem-solving abilities and work ethic were evident. 

Chill Soda was inspired by Mackey’s sister, who taught at a California school where soda was banned because of its harmful effects and replaced by other beverages that still contained high amounts of calories and artificial sweeteners.

Chill Soda

Chill Soda was founded when Dan Mackey recognized an opportunity to create a drink that would benefit kids and adults. Chill Soda comes in four flavors/variations: Chill Kola, Chill  Pome, Chill Guava, and Chill Limon. 

These are vitamin C-rich and have a good amount of nuts and spices. The Chill Soda company’s founder, Dan Mackey, called it “the revolution of sodas.”

Shark Tank Pitch of Chill Soda

He sold 250,000 cans in California through various distributors and earned a total income of $175,000 before entering the Shark Tank Show for a 10% share of Chill Soda in exchange for $50,000. 

The four sharks (investors) were initially interested in Mackey, but one critical mistake nearly ruined his business. His lack of knowledge of the beverage industry was explained by the fact that he is a marketing expert and therefore has no familiarity with the sector. 

When Kevin, Daymond, and Robert saw his lack of direction and understanding of the beverage industry, they backed out.

Barbara was the sole shark remaining, and she stunned the other sharks by accepting Mackey’s offer of a 20% equity stake in exchange for a $50,000 investment. 

Barbara Corcoran invested solely in Chill Soda Company because she admired Mackey’s candidness.

What is the Valuation of Chill Soda?

The value of Chill Soda Company is $250,000. Although Barbara Corcoran invested in Chill Soda, the company never materialized again. 

At present, Cold Soda is not available in public stores in California; users of the product should email the company for more information. 

During a recent interview with Barbara, it was revealed that she lost money on a venture with the Chill Soda Company, but she did not go into any additional detail. 

Chill Soda’s operations have ceased, and Mackey has, to our knowledge, omitted the company’s name from his LinkedIn profile, although it indicates he is working on his other venture, SecondTrades.

Who were the Investors in Chill Soda?

An angel investor, Barbara Corcoran, invested $50,000 in Chill Soda in exchange for 20% of the company. 

Chill Soda was last valued at $2,50,000 before it went out of operation after getting investment from the SharkTank show.

She is an American entrepreneur with an estimated net worth of $80 million. She started The Corcoran Group, a New York real estate company that she sold to NRT for $66 million. 

As a shark on ABC’s Shark Tank, Barbara participated in all five seasons and has invested in more than 50 businesses/startups.

Chill Soda was a complete failure for Barbara since both the company and its founder struggled to make money. 

Although the company no longer operates, it maintains a website through which customers can place orders.

Who are the Competitors of Chill Soda?

The company is currently unable to compete with other beverage manufacturers. PepsiCo, Coca-Cola, Red Bull, Nestle, and Parle are some of the biggest competitors of Chill Soda. 

PepsiCo has been around since 1965 and is the biggest beverage company in the world. In 2005, PepsiCo merged with Frito-Lay, based in New York City. 

What Happened To Chill Soda After Shark Tank? 1

PepsiCo earned USD4.857 billion in the 2017 fiscal year, compared to USD62.525 billion in the previous fiscal year, a gain of 1.2 percent.

The following companies are competitors of Chill Soda:

  • There are no preservatives in Luma Soda, owned and run by Jim Otteson, and appeared on The Shark Tank. The market is doing well for Luma Soda.
  • A great American company that sells soda with great flavors is Jones Soda.

What Happened to Chill Soda after Shark Tank?

A viable business model hasn’t yet been developed for Chill Soda, which launched in 2009. An official company website doesn’t provide updates on this product, and it is not in any online store. 

Barbara Corcoran, the cold soda investor, revealed in an interview that she lost money on her investment. 

Since chill soda lacked a sound business strategy, it did poorly in the market and was not sold on internet marketplaces.

Chill Soda

After participating in the Shark Tank Show in 2009, Chill Soda never took off. According to reports, the brand has no physical locations in California other than its online presence. 

The company results from a $50,000 investment from Barbara, while Dan Mackey is establishing his new business venture. 

The company has lost money as a result of this as we wait for the product to resurface!

Interesting Facts about Chill Soda

  • Dan Mackey was a marketing professional with no prior business experience.
  • Den Mackey’s sister came up with the idea for Chill Soda after watching her students consume harmful beverages.
  • Currently, Dan Mackey hasn’t revealed the amount of his investment of $50,000.
  • Dan Mackey founded a new business, Second Trades, in 2019.

Conclusion on Chill Soda 

Chill Soda reached a deal with Shark Barbara Corcoran on the show for $50,000 in exchange for a 20% ownership in the company. This item was featured on the show’s first season and has not been available for purchase since. 

Although its website is still active and includes a button for ordering drinks, Chill Soda is functionally closed. 

Despite a brief surge in popularity, agave nectar is not a very safe substitute for sugar due to its extraordinarily high glycemic index. 

In addition, recent research indicates that it is substantially more harmful to your health than regular sucrose.

If you enjoyed reading this article, also checkout The Birchbox Business Model.

About the author

Madhav

Hey Folks, I am Madhav! I lead a team of Marketers at Tech Startup based in Australia. In my free time, I dissect the business models of various businesses. And if there's any free time, I cook some new Dish!