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Fizzics Shark Tank Update

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Fizzics – “The Flavour Changer.” Fizzics is a brand that makes a product that can enhance the taste of beer. How does it enhance? Simple steps just pour the beer into 64 ounces worth of vessel and you’ll instantly get the flavor change. Beer’s taste gets enhanced with the help of pressure created by ultrasonic waves. These waves increase the level of carbonation and make it creamier in the head. Fizzics results in enhancement in flavor is the same as all kinds of beer.

Fizzics machine has a tap from where you can fill your glass. Fizzics clean-up is also too easy just to flow the water and periodically remove and change, if necessary, the anti-microbial mat. Fizzics runs on four AAA batteries to serve its best. Fizzics is a beer dispenser and the use of sound waves makes all styles of beer tastier. The machine is very easy to operate and the micro-technology system boosts the carbonation, mouth feel, aroma, bubbles, texture, and more creamy foam on the top.

Fizzics at a Glance:-

Ideabeer dispenser that uses sound wave technology for better-tasting beer
FoundersPhil Petracca and David McDonald
Asked For$500,000 For 4% equity
Accepted Deal$2 Million For 16% equity
SharksLori Greiner And Mark Cuban
Business statusIn Business
Episode No.Season 8, Episode 1
WebsiteFizzics
Buy on AmazonBuy Now!

Index:

Who are the founders of Fizzics?

Phil Petracca and David MacDonald are the founders of Fizzics. They were having their beer one day and were in a dilemma about how and why the beer tastes tastier when it comes from the tap. Then they did research, experiments, trial, and error and finally came up with a permanent solution to it with Fizzics. It took them one long year to make Fizzics.

Did Fizzics get a deal on the Shark Tank?

Phil and David, founders of Fizzics came on the Shark Tank seeking an investment of $500,000 for 4% equity in exchange. They explained and gave a demonstration of their product and handed over a glass of normal beer and Fizzics machine beer. After checking, sharks said that it is the best beer flavor changer universally.  After questioning, Mr. Wonderful declares he is out of the deal due to high valuation demand, but, I’m much impressed with the product.

When one of the sharks asked him about the sales figure, they gave him a counter bite by saying they made $3.2 million in sales in one year and impressed all the sharks. Still, all the sharks were in chaos with the valuation asked. After some chattering, Robert Herjavec gave an offer of $500,000 for 8% equity. Kevin offered the same with the justification that he can sell this product more than any of the sharks present here. Barbara Cocoran said it sounded true and went out.

Daymond John asked why they needed investment, as they needed a positive cash flow in their bank accounts. After getting no answer from their side, John also went out. Lori Greiner also offered the same as Robert and Kevin, which was $500,000 for 8% equity. Mark Cuban jumped into the deal and made an offer of $800,000 in exchange for 10% equity in the company. Mark asked Lori to join him and she agreed. Philip and David gave a counter offer to Mark and Lori with $ 2 million in exchange for 16% equity in the company. Mark and Lori signed the check and they made a deal.

See also  BeSomebody Shark Tank Update

What happened to Fizzics after Shark Tank?

After the show, they were on QVC after the episode aired. They debuted a smaller and less expensive model of their business.

After the show, they got their hands on Bed Bath and Beyond, Target, Brookstone, Amazon, and many more. In the year 2017, Philip left the country and flew away to make a new start-up called Craft Brewery in Colts Neck in NJ. During the pitch, they asked for a valuation of $12,500,000 and by the end of the pitch, they got the same valuation they pitched for. With the support of Mark and Lori, they were doing sales and customer addition.

Fizzics‘ manufacturing costs per unit are around $38 and they sell it on the market for $199, which is quite a high margin. In March 2019, they went bankrupt and a case was filed against them. After a year, with the help of a PR release, they came out of Chapter 11 bank bankruptcy successfully as of March 2020. Reorganizing the company in the U.S. was planned in the District Court of Delaware. As of May 2021, they are still in business and working smoothly to achieve what they would have achieved in the past year only. After all the case file and court issues, Mark Cuban and Lori Greiner went out and cut their relationship off with Fizzics.

Competitors of Fizzics are

  • Craft a Brew
  • The Bruery
  • Miller Lite
  • Ballast point
  • BrewDog UK

What is the net worth of Fizzics?

The estimated net worth of the Fizzics is around $4 million as of the year 2022. They have faced a long journey and are taking more steps toward future goals. There are many hindrances to getting on the route while celebrating the journey on the same route.

Is Fizzics still in business?

Yes, as of May 2021, Fizzics is still in operation. They have captured the market back after successfully getting back from the Chapter 11 bankruptcy matter. Mark and Lori are no longer with them. Still, Phil and David are taking the company over the market and making it a profitable business.

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FAQs:

What is Fizzics?

Fizzics – “The Flavour Changer.” Fizzics is a brand that makes a product that can enhance the taste of beer. How does it enhance? Simple steps just pour the beer into 64 ounces worth of vessel and you’ll instantly get the flavor change.

Who founded Fizzics?

Phil Petracca and David MacDonald are the founders of Fizzics. They were having their beer one day and were in a dilemma about how and why the beer tastes tastier when it comes from the tap.

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