Fizzics Shark Tank Pitch
Fizzics changes the way people drink beer on the road and at home. Unfortunately the beer doesn't taste as good as it does from the tap when you drink from a can or a bottle. Place your can or bottle into the Fizzics container, and the beer is pressurized to deliver the great taste from draft.
They offer a taste comparison of the draft setup verses a can or bottled beer. Fizzics delivers the foam that provides a great taste.
The company just started shipping six months before their Shark Tank presentation and they have sales of $3.2 million. The product retails for $199 and costs $35.98 to manufacture. Phil and David did a crowdfunding campaign on IndieGoGo raising $250,000 and quit their jobs the next day.
Phil and David have found the head of the bear is the most critical element of the beer drinking experience. They utilize sound waves to compress the beer and create the head. Fizzics has multiple patents pending.
Fizzics is cashflow positive and are going to do $9 million and have $220,000 profit. They are doing a series A round at $2 million with a lead institutional investor. There are many VC's but their is only one Shark Tank.
Fizzics Episode Data
- Company: Fizzics –Website
- Entrepreneur: Philip Petracca and David McDonald
- Ask: $500,000 for 4% equity
- Episode Season 8 Episode 801
- Companies in this episode:
- Spoonful of Comfort
- Re Think
- PrepExpert– Featured Update
- First Aired: 09/23/2016
- Deal: Lori Greiner and Mark Cuban at $2 million for 16.67%
What do the Shark Tank Investors say about Fizzics?
- Mark Cuban – asks what are the challenges. They are creating a category. After the other Sharks make their offer, Mark Comes back at $800,000 for 10% and allows Lori to go in on the deal with him. She agrees, but Phillip counters offering the full round at $2 million for 16.67% and it is a done deal with Lori and Mark.
- Daymond John – says the main reason he does the show is for the people who really need help. He doesn't see what they need help with their business. He is out.
- Barbara Corcoran – is wildly enthusiastic about the product, but not about Phillip. She thinks he has every answer, and is too slick. She is out.
- Kevin O'Leary – says this falls right into my wine and food business. He offers $500,000 for 8%
- Lori Greiner – Offers $500,000 for 8%
- Robert Herjavec – offers $500,000 for 8%