Are you looking to have all the goodness of a draft beer from the comfort of your own home? If yes, Fizzics is the perfect product for you. Fizzics is the brainchild of McDonald and Philip Petracca. It is designed to make bottled and canned beer taste like it has been on tap.
According to the website of Fizzics Beer, the Fizzics beer dispenser wants to turn every sip into a premium experience by enhancing the taste and feel of the drink. There is no use of chemicals, had, or cartridges in the system for achieving the change. It only uses a pressurized system.
Petracca and David McDonald introduced the home beer dispenser named Fizzics in 2012. As of 2023, the estimated net worth of Fizzics is $18 million. They are now generating $4 million in annual revenue.
The founders of Fizzics came up on Shark Tank season 8 in September 2016 and were able to make a deal of $2 million with Mark Cuban and Lori Grenier for which they had to give up a 16.67% equity stake in their business.
Finally, the valuation was $10 million which was down from the initial valuation of the founders that is $12.5 million.
The compartment is capable of holding anything up to a 64-ounce growler. You need to just make sure that the feed tube is inserted into the liquid and close the lid. Then, you just need to pull the tap handle forward, and the pressure changes the feel of the liquid as it is dispensed into a glass. You can also push the handle backwards for dispensing foam to top off the beer to have a full draft beer experience.
They were able to generate $3.2 million in sales before representing the Fizzics draft pour beer dispenser on Shark Tank.
Unfortunately, the company filed for Chapter 11 bankruptcy in 2019. However, it was able to successfully restructure its debt and rise from bankruptcy in 2020. As of now, Fizzics is selling its third-generation product, the DraftPour portable home beer dispenser.
The DraftPour is a device that infuses canned or bottled beer with nitrogen by using a patented technology. That was creating a smoother, more delicious pour. You can buy the products of the company online from their official website.
Fizzics Net Worth 2022 to 2023
Fizzics Net Worth 2022
In 2022, the approximate net worth of Fizzics was $18 million.
Fizzics Net Worth 2023
As of 2023, Fizzics has an estimated net worth of $18 million.
What Is The Net Worth Of Fizzics Before Appearing On Shark Tank?
Before appearing on Shark Tank, Fizzics had an approximate net worth of $10 million.
What is The Net Worth Of Fizzics After Appearing On Shark Tank?
After appearing on Shark Tank, Fizzics had an approximate net worth of $12.5 million.
A Short Overview Of Fizzics
Fizzics is a personal beer dispenser that helps to dispense bottled or canned beer directly into the mouth and enhances the head and taste of beer.
The lightweight, portable beer dispenser, Fizzics boosts and improves the taste of beer and is perfect for outdoor events and friends’ gatherings.
There are no extra parts or CO2 cartridges as two AA batteries are there to power it up. It is compatible with any type of beer and can adjust any conventional container, from large 64-ounce growlers to 12-ounce cans.
Also Read: What Happened To FlunkkOFF After Shark Tank
Phil Petracca And David McDonald are the persons behind the foundation of Fizzics. Phil Petracca and David McDonald asked themselves what was it about draft beer that made it taste better than bottled beer.
After further investigation, they were able to find that the cause might be associated with how beer is dispensed from a tap when under pressure.
They thought that they could introduce a device for making store-bought beer taste as good as draft beer. They wondered how it should be poured.
They introduced Fizzics after a couple of years in 2012. The beer lovers all over the world fall in love with the beer dispenser Fizzics. Fizzics now enables porch drinkers all over the world to improve a regular can or bottle of beer, developing the sensation of drinking beer instantly from the tap.
The founders of Fizzics, David McDonald and Phil Petracca, have an approximate net worth of $15 million as of 2023.
David and Phillip were wondering about why beer tastes so much better from the tap than a bottle or can while in a local pub. So they started their venture to find out the answer.
They made a partnership together to bring fresh water from the tap to the domestic market with the help of science. They eventually found out how to develop a better beer foam without CO2. In place of this, they used sound waves.
David and Phillip introduced Fizzics with a booming crowdfunding campaign. After that, they put their jobs on hold and appeared on Shark Tank to raise funds so that they could expand their business.
Fizzics Shark Tank Pitch
Philip and David came up on Shark Tank intending to get an investment of $500,000 in exchange for a 4% stake in their business Fizzics.
Philip and David started to ship their products for eight months and had already managed to generate $3.2 million in sales. They are expecting to generate nearly $220,000 in profit.
The manufacturing cost of Fizzics is only $35. On the other hand, the retail price of Fizzics is $199. Phillip and David also shared with the sharks that they were working on a smaller, cheaper version of their machine, Waytap, that would function with cans of beer.
All of this was sufficient to inspire the sharks so that they could consider Philip and David. The two founders obtained a couple of offers from the sharks.
Mark Cuban and Lori Greiner made up their minds to team up with each other and proposed to take over 90% of Fizzics for $800,000 in return for $10 million.
Philip as well as David were happy with the idea of having two sharks on board. Philip and David made a counteroffer. They were ready to give up a 16.67% equity stake in their business in exchange for a $2,000,000 investment. Mark Cuban and Lori Grenier finally accepted their offer.
Philip and David left the Shark Tank stage with pride securing a deal from Mark Cuban and Lori Grenier for their business, Fizzics.
Also Read: What Happened To Liberate After Shark Tank
Deal or No deal
Yes, there was a deal between the founders of Fizzics and Mark Cuban and Lori Grenier.
Mark Cuban and Lori Grenier gave a proposal jointly. They offered to take over 90% of Fizzics for $800,000 in return for $10 million. But Philip and David wanted an investment of $200,000,000 in exchange for a 16.67% equity stake in their business.
Mark and Cuban readily accepted their offer. So, finally, Mark Cuban and Lori Grenier invested $2,000,000 in return for a 16.67% stake in Fizzics.
Also Read: Arturo Elias Ayub Networth Shark Tank Mexico
Fizzics Post Shark Tank Success
Mark Cuban and Lori Grenier accepted the deal for $2,000,000, a 16.67% increase in the value of Fizzics. All four of them nodded their heads, and the entrepreneurs left the Shark Tank stage with smiles on their faces.
Fizzics secured the shelves of different selling platforms as soon as the Fizzics Shark Tank episode was aired. They created a smaller machine named the WayTap, that accepts only cans and 12-ounce bottles as feedstock.
On QVC, you can buy the smaller version by spending only $99, which is a full $100 less than the larger version. The smaller version is also more portable.
The goal of Fizzics to maximize its number of selling channels has been fulfilled. They are now available for sale at different retail outlets such as Target, Best Buy, Brookstone, Amazon, and a variety of other locations and Bed, Bath & Beyond.
There are a lot of popular magazines and websites that have reviewed the products of Fizzics including Yahoo! Tech and cNet. People have named the Fizzics beer-making machine nothing short of a miracle.
Also Read: What Happened To Sworkit After Shark Tank
Fizzics was featured on the popular television show Shark Tank and later introduced their next generation of Fizzics, named WayTap, which is compatible with cans and bottles up to 12 ounces.
WayTap is a smaller, more reasonable version of the iconic Fizzic, but it is compatible with bottles and cans up to 12 ounces in size.
Fizzics appeared on Shark Tank so that they could create the perfect magic trick for bottles and cans. To make it happen, Fizzics managed to lift another $1 million on Kickstarter.
Phillip ultimately left the firm to make craft beer in Colts Neck, New Jersey. Fizzics announced bankruptcy in March 2014.
But as of 2024, Fizzics is still active in business and is generating approximately $4 million in annual revenue.
Fizzics has launched its Waytap device which is cheaper, smaller, and easier to use and has just won the Innovation By Design contest which is financed by Fast Company.
According to Fizzics, the company has an amazing pipeline of consumer products in development. They are thankful for the investment of frogVentures as all these were possible only for them.
Since then, Fizzics have launched their next-generation Fizzics, the WayTap which is now available for sale online and in major retailers such as Best Buy, Target, Brookstone, and many more.
An alternative to the Fizzics, named the WayTap, is smaller and more reasonable. Nonetheless, you may use it only on cans and bottles with 12 ounces or less capacity.
Fizzics was also able to raise $1 million successfully on Kickstarter with which they were able to introduce the product to the market and work together with the sharks.
According to the company, Fizzics also works with craft breweries to install its commercial tap systems on their premises.
Challenges and Lessons Learned
Although the company was started with full enthusiasm, Fizzics faced a lot of financial problems that led to a debt restructuring and the filing of Chapter 11 bankruptcy.
The company was able to handle its responsibilities while continuing to serve a market that consisted of breweries, beer lovers, and sceptics who became positive by their product’s proficiency in enhancing beer taste and fragrance.
What Is Next For Fizzics?
The story of Fizzics does not finish with the co-founders stepping down from their roles within the firm. Although it does not seem like the sharks Mark Cuban or Lori Grenier from Shark Tank are still now associated with the company. Despite this, Fizzics is still selling two nitro-style beer dispensers successfully.
The company now provides the Original, which is capable of storing and pouring up to 64 ounces of beer (a growler), and the DraftPour model is capable of serving up individual cans and bottles of beer.
As per the company, the DraftPour is the outcome of more than four years of taste-testing and tweaking the product based on feedback from consumers and industry professionals.
You will find the DraftPour to be available for purchase on Amazon. If you buy it from Amazon you will be able to get it by spending only $124.99.
The Original is also now not available for purchase on Amazon and is listed as Sold Out on the official website of Fizzics. The most interesting thing is that the DraftPour has better reviews than The Original which is making us wonder if they are phasing the OG out in favour of the newer model.
However, as of now, no clue proves that Fizzics is slowing down. According to the reports, it is making about $4 million in sales every year.
Not only that, they have also expanded internationally, listing their availability in Brazil, Canada, the Czech Republic, France, the Middle East, and Asia.
Also Read: What Happened To Ice Beanie After Shark Tank
From their beginnings on Shark Tank to their present status as a thriving business, they have ascertained that with the right idea and execution, anything is possible. We can not wait any more to see the future for Fizzics and its ceaseless success. Despite facing bankruptcy the founders managed to reconstruct their business. The best thing is that they are still successfully doing their business.
How does Fizzics beer work?
If you pour the beer by pulling the tap handle forward; micro-foam is added by pushing the handle back at the end of the pour. The Fizzics Micro-Foam is thick, rich, and full of fragrance. And it survives considerably longer than the head that is created when a beer is usually poured.
Why is my Fizzics beer not working?
Fizzics machines will not work correctly or will dispense very gradually if you are using old batteries. If the machine will not perform with fresh batteries, you should check the battery contacts. If the battery contacts need cleaning, you should use a Q-Tip dipped in distilled white vinegar or lemon juice.
Can you use Fizzics for coffee?
You should not make any experiment by using other types of beverages, including wine, soft drinks, juice, coffee, tea, milk or creamers. If you do so it will nullify the Fizzics Limited Warranty.