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Thrive+ Shark Tank Update

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Have you ever had a massive hangover after a well-spent party filled with booze? or Do you always end up being the most ill-sobered person after having alcohol and are hence afraid to try it?

Fret Not! because Thrive+ is here to cure all your distress along with the massive hangovers and tiredness that follow it using its patented and scientifically proven product.

Thrive+ at a Glance:

IdeaAfter-alcohol aid to cure hangovers
FoundersBrooks Powell
Asked For$400,000 for 10%
Accepted DealNone
SharksNone
Business statusIn Business
Episode No.Season 9, Episode 24
Buy on AmazonBuy Now!

Index:

What is Thrive+?

Thrive+ aims at solving the problem of Alcohol-induced hangovers using a scientific formula that cures the after-effects of alcohol without any short-term or long-term side effects, as the company’s slogan indicates “Enjoy Tonight, Thrive Tomorrow”.

The company provides a dietary supplement that does not promote alcohol usage but prevents further damage to the body.

The supplement is a patented molecule that combines DHM with proprietary ingredients to increase bioavailability and effectiveness. Powell wants the product to be a relief for social drinkers rather than a fallback for alcohol abuse.

Founder Story:

Brooks Powell, the founder of Thrive+ is a Princeton graduate with a major in religion. Back in his sophomore year he somehow ended up having a mild hangover while attending a neuroscience class.

He faced immediate fatigue and dehydration due to the hangover and decided to find a cure for this.

During that time, Powell accidentally stumbled upon the Journal of Neuroscience and found an interesting fact that Dihydromyricetin was used to cure rats of a hangover.

With the newfound information and some mentorship from his Neuroscience professor, Powell developed Thrive+ with a New-York based Pharmaceutical company.

Did Thrive+ get a deal on Shark Tank?

Brooke entered the tank with a demand of $400,000 in exchange for 10% equity in the company, valuing it at $4 million.

Since the product he pitched was a supplement, all the sharks especially Mark Cuban were opposed to the very idea of it. Due to this notion, Mark never let Brooke have a hold on his own pitch.

Due to all the opposition and preconceived opinions of the product, Brooke was unable to get through to the sharks and hence, was left empty-handed on the show where most of the sharks reasoned that either the investment was too early to be done or the product had no actual usage.

See also  Send a Ball Shark Tank Update

What happened to Thrive+ after Shark Tank?

After the episode aired, it is reported that almost 10,000 people visited the company’s official website within 10 minutes of the pitch.

Thus, even though Brooke was unable to secure a deal with the Sharks yet the platform helped him in publicizing his product.

Thrive+ later changed its name to Thrive Global. In February 2019, they proceeded with a funding round of $2.1 million and rebranded completely to Cheers, with the aim of making the name more fun and full of meaning.

In 2021, the company started accepting public investments at a $49 million valuation and clocks around $3.5 million in annual revenue.

In September of the same year, they introduced a Start Engine campaign to raise funds for getting into retail, thus raising $1,764,919. The company also launched two new products Cheers Restore beverage and Lightspeed.

Product Details:

  • The company claims to produce pills and powder that can cure after-alcohol hangovers.
  • The main ingredient of the product is a chemical named- Dihydromyricetin.
  • The product has no side effects and is harmless to the human body.
  • It helps reduce not only the hangovers but also the sluggishness and fatigue that often follows them.
  • It is a dietary supplement and currently sells for $30 for a 30-pill jar.

What is the Net Worth of Thrive+?

The company was valued at $4 million on the Shark Tank and could not secure any deal on it.

After the episode aired, the company got massive support, especially from the target audience of the 30-54 years of age group.

The company has clocked over 43.5 million in annual sales as of 2021 and continues to flourish further. As of 2023, the net worth of Thrive+ is $5 million.

Is Thrive+ still in business?

Yes, Thrive+ is still in business as of 2023 with a Net Worth of around $5 million and annual sales of around $3.5 million. the company continues to flourish with its aim of curing hangovers around the world.

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FAQs:

What is Thrive+?

Thrive+ aims at solving the problem of Alcohol-induced hangovers using a scientific formula that cures the after-effects of alcohol without any short-term or long-term side effects, as the company’s slogan indicates “Enjoy Tonight, Thrive Tomorrow”.

What's the net worth of Thrive+?

The company was valued at $4 million on the Shark Tank and could not secure any deal on it. As of 2023, the net worth of Thrive+ is $5 million.

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