Shark Tank, the ultimate entrepreneurial battleground, has witnessed the rise and fall of countless ventures. One standout participant, BeerMKR, caught viewers’ attention with their groundbreaking brewing system and infectious passion for craft beer.
But what happened to BeerMKR after the Shark Tank appearance? Did they thrive or falter in the aftermath? In this article, we will explore their Net Worth, Shark Tank Pitch, Are they still in business, and more, so let’s get started!
What Is BeerMKR?
BeerMKR is an automatic home beer-making kit company that was created in 2013 at Colorado. BeerMKR aims to streamline beer production and save time for enthusiasts.
It comes with a 3-tier system (Brewtub, Brewbag, and Wastebag). Its innovative features include automatic heating and cooling, which you can conveniently manage from your phone.
The entire brewing journey is closely monitored via the BEERMKR app, which updates you on the addition of yeast and dry hops through push notifications.
|FOUNDED BY||Aaron Walls & Brett Vegas|
|FOUNDED IN||2013 at Colorado|
|PRODUCT||Home Beer Brewer|
|ASKED FOR||$500k for 2% equity|
|EPISODE||S12 E23 [Shark Tank USA]|
|AIR DATE||May 7, 2021|
|LIFETIME SALES WORTH||$2M [Estimated]|
To Know More Details About BeerMKR, continue reading!
Who Is The Founder Of BeerMKR?
Aaron Walls is the Co-Founder and CEO of BeerMKR. He went to Cornell Johnson Graduate School of Management for his Master of Business Administration.
While in school, Aaron Walls worked for PKF Hospitality Research for 6 years. He was the head of the BR Venture Fund for a year.
Brett Vegas joined BeerMKR in 2017 as its Chief Marketing Officer, Co-Founder, and Board Member. He also has an MBA from Johnson University and Cornell University in Marketing.
After he finished his education, he worked for Colgate Palmolive and The WhiteWave Foods Company, among others. Since 2016, he has been the Marketing Director at Sage V Foods Company in Colorado Base.
BeerMKR Before Shark Tank
This company was founded in 2013 under the name BrewJacket, but in 2021 it changed its name to BEERMKR, Inc. This business primarily sold conventional yet innovative home brewing supplies.
The company ran a successful Kickstarter campaign in September 2018 with a target of $100,000 but raised $398,276 from 1,000 backers.
This company had to deal with a shipping and production issue regarding shipment, so shipping had to be delayed. However, many businesses could not export it because of COVID-19, causing significant losses.
This BeerMKR allows users to brew fresh beer using their ingredients, but it provides pre-made recipes (MKRKITS).
How Was The Shark Tank Pitch Of BeerMKR?
The Sharks liked how BeerMKR was pitched on Shark Tank. Aaron Walls and Brett Vegas did an excellent job of explaining what the product was and what made it different from other products. They also showed a video of the product being used, which helped show how simple it is.
The Sharks were surprised by how good the beer made with BeerMKR was, and they were also interested in the company’s growth potential.
But the Sharks needed some clarification about how much the company was worth. BeerMKR wanted $500,000 for 2% of the company, which was a very high price for a business that had just started up. None of the Sharks made an offer in the end.
What Happened To BeerMKR After Shark Tank?
Before Shark Tank, BeerMKR had raised $3 million in funding without making any sales, which sharks don’t like, so they dropped out of it.
On August, 2021, this company shared a post in which it said that it had made 100,000 drinks. The company got $466K in its last round of funding. So far, there isn’t much information about it.
This product is for sale on Amazon, but there isn’t much interest in it there.
BeerMKR Shark Tank Update
After the airing of this episode of Shark Tank, this product was promoted for free. However, it was unsuccessful in acquiring funding from sharks.
In October 2022, it raised $130,810 on the crowdfunding platform StartEngine to expand its business. This campaign is still active, and each share costs $6.04.
In addition to this platform, the business has raised $457,667. This company’s present annual revenue is $3 million.
What Is BeerMKR Net Worth?
As of 2023, BeerMKR is estimated to have a net worth of $25 million. The current cost of BeerMKR + Beer Tap is $899. Whereas a solitary beer tap costs $149. In September 2018, the company launched a successful Kickstarter campaign to raise $100,000. Surpassing their expectations, the company raised $398,276 from 1000 backers.
Is BeerMKR Still In Business?
Yes, BeerMKR is still in business. The company’s website is still active, and its brewing systems and packages are still for sale. They are also active on social media platforms like Facebook, Twitter, and Instagram.
Additionally, BeerMKR has been featured in multiple media outlets over the past few months, indicating that they are still active and expanding. For instance, they were featured in a recent New York Times article about the rise of home fermentation.
Overall, there are no indications that BeerMKR is going out of business anytime soon. They seem to be a successful business that keeps growing and getting bigger.
BeerMKR did not receive a contract on Shark Tank, but the company has grown and been successful in the years since. They have expanded their product line, partnered with significant retailers, and received multiple accolades. As of July 2023, BeerMKR’s estimated net worth is $25 million.
The company’s success can be attributed to several factors, including its innovative product, its rising popularity, and its effective marketing campaigns. BeerMKR is still a new company, but it is well-positioned for continued growth and success in the coming years.
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