Where Is BeatBox From Shark Tank Today?
Justin Fenchel, Brad Schultz, and Aimy Steadman created BeatBox in 2011. During a 2020 interview with Beverage Dynamics, Steadman said they took inspiration from Four Loko and Gatorade. They wanted to offer ready-to-drink alcoholic beverages in a variety of flavors, sold in fun packaging. In particular, they wanted consumers to have a wine-based beverage available to drink at events such as music festivals. Many other ready-to-drink alcoholic beverages, like White Claw and the aforementioned Four Loko, use a malt liquor base.
BeatBox drinks are 11.1% ABV and entirely vegan. Its site also notes that the drinks are made without the use of gluten, though the production facility is not certified gluten-free. To sweeten things up, the drinks also contain a blend of cane sugar, sucralose, and stevia. On "Shark Tank," the founders revealed that they opened their own winery in Texas so they would be able to self-distribute the products. However, they couldn't keep up with demand, so they partnered with a packer and distributor. They wanted to further expand the business, so they headed to "Shark Tank" to try to secure a deal with the investors.
BeatBox needed support for further expansion
The BeatBox founders wanted a $200,000 investment in exchange for one tenth of the beverage company. When they passed out samples for the Sharks to try, Kevin O'Leary wasn't impressed. However, the other Sharks loved their drinks.
Barbara Corcoran liked the brand enough to offer them double what they were asking: $400,000 for 20% of the company. However, O'Leary countered with his own offer. He would give them the $200,000 for 20% of the company, and said that his experience in the wine industry would be more beneficial than a partnership with Corcoran. Mark Cuban wasn't sure the founders' strategy of offering tastings would be the best move for the brand. Instead, he wanted them to focus on large events. Still, he jumped in with his own offer as well. He would help with marketing the products, and offered $600,000 for 33%.
Lori Greiner and Robert Herjavec were going to make an offer, but before they could, the BeatBox founders asked if Cuban would up his offer to $1 million for 33% of the company. He agreed, and they sealed the deal.
The founders walked away with more money than they had hoped for
In the "Shark Tank" exit interview, after walking away with five times the money they asked for, the BeatBox founders expressed their disbelief at the deal with Mark Cuban. "Time to get to work," said Justin Fenchel. Barbara Corcoran even told Cuban she was "jealous of the deal."
After the "Shark Tank" appearance, the company's growth continued. A press release stated that in 2022, BeatBox was "the fastest growing alcohol beverage brand on social media." It was even featured in Season 2, Episode 6 of "Beyond the Tank," on which Fenchel stated that the company started seeing increased sales just a few months after the original "Shark Tank" episode aired.
The company now sells its drinks in nine different flavors: Hard Tea, Blue Razzberry, Juicy Mango, Pink Lemonade, Fruit Punch, Tropical Punch, Peach Punch, Fresh Watermelon, and Cranberry Dreams. You can find BeatBox products in Total Wine & More, 7-Eleven, and independent liquor stores. The website states that its drinks can be found in over 45,000 stores nationwide, and you can use the online store locator to find the drinks near you. You can also order the variety packs online and have them shipped directly to you.