Fizzics Home Beer Dispenser Update

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Company Updates Season 8
Fizzics Home Beer Dispenser Update Season
8 Fizzics appeared on Shark Tank on September 23,
2016. Founders Philip Petracca and David McDonald
left the tank with a deal from Mark Cuban and
Lori Greiner of 2,000,000 for 16.67 equity.
Heres a quick recap of everything that happened
during the home beer dispenser pitch as well as
news on a Fizzics update after Shark Tank.
Fizzics Update After Shark Tank
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Entrepreneur Philip Petracca and David McDonald
Business Home beer dispenser Ask 500,000 for
4 equity Result 2,000,000 for 16.67 equity
Shark Mark Cuban and Lori Greiner The Fizzics
Home Beer Dispenser appeared on Shark Tank Season
8 Episode 1. Founders Philip Petracca and David
McDonald pitched their product to the sharks,
which aims to make every beer taste like its
straight from the tap. Fizzics does this by using
sound wave technology to imitate a tap beer
experience.
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When it appeared on Shark Tank, Fizzics had only
been shipping its product for eight months and
had already amassed 3.2 million in sales, and
will profit 220,000. Further, each Fizzics
machine costs just over 35 to make and retailed
for 199. Additionally, Phillip and David shared
that they are getting ready to launch a new
product, Waytap, which is a smaller, cheaper
version of the machine that will work with canned
beer. All of this was enough to interest the
sharks, and Philip and David found themselves
with a few different offers. Mark Cuban and Lori
Greiner teamed up, offering 800,000 for 10
equity, and both Philip and David liked the idea
of having two sharks on board. They countered
back at 2,000,000 for 16.67 equity, which Mark
and Lori accepted.
In terms of a Fizzics update after Shark Tank,
the company has had a bit of a rough time and had
to file for Chapter 11 bankruptcy. However, as of
April 2020, Fizzics completed a debt
restructuring process and is back in business.
Further, it looks like Fizzics was able to launch
its second product as well and is calling it
DraftPour. Its unclear if Mark Cuban and Lori
Greiner are still involved with the
company. Further, it seems that David McDonald is
still involved in the business but not day to day
operations while Philip Petracca has parted ways
to open a new company, Colts Neck Brewery.
For more Shark Tank Season 8 Episode 1 product
updates, be sure to check the links below
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Update For more Shark Tank products update, be
sure to check out ourSeason 8 Products page.
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