What Happened To Chill Soda After Shark Tank? (2022 Updated)

 

Dan Mackey invented Chill Soda. It is also speculated that his sister is the originator of Chill Soda. Dan worked in the marketing sector prior to embarking on his business path. It is unclear if its soda is still available in stores. To learn how Soda Chill’s performance after Shark Tank in the 2022 update, let’s find out in this article.

Company Overview in Shark Tank

Company Name Chill Soda
Website         www.chillsoda.com
Episode         Season 1 Episode 9
Product Offering     Low sugar, reduced calorie, healthy beverages
Founded 2009
Founder Dan Mackey
Required Investment $50K for a 10% stake
Closing Deal $50K for a 20% stake
Offered Sharks         Barbara Corcoran
Current Business Status Out of business

 What is Chill Soda?

It is a breakthrough replacement for regular soda in the market. This drink was promoted as having low sugar and calorie level, but preserving the sweet and delicious flavor to consume.

The business made their drinks with all-natural ingredients without additives. They appeared in a wide-ranging flavors: including Kola, Pome, Lemon, and Guava. 

How Does Chill Soda Work?

Chill Soda substitutes for drinks that are still high in sugar and calories.

The firm saw the critical need for an actual healthy beverage that everyone could feel good when drinking soda, whether at school, at home, or anywhere else where proper hydration is required. So, they create a beverage that is both delicious and nutritious.

For this reason, the wholesome soda wave presents here at Healthy Soda, Inc. This company happened as a result of the founder’s sister, who was a teacher, seeing drinks being removed from schools.

Their soda naturally achieves a unique blend of nutrients, low-calorie intake, and excellent flavor. This kind of health-friendly soda has never succeeded before. Therefore, It is a true transformation in the beverage industry.

“Chill” is the name they chose for their drinks since it corresponds nicely with the low glycemic index and symbolizes a young and relaxed attitude. The business believes that it is nice to be healthy at any age.

The firm pays high gratitude to all business partners who have shed light on making their soda a reality. One of which is Barbara Corcoran, one of its biggest cheerleaders and supporters.

Barbara expressed her sincere delight in having a soda that she can feel keen on giving to her children, and the best part is that her children enjoy sipping it! 

Who Founded Chill Soda? Founder Backgrounds

Dan was inspired to create Chill Soda after learning the problem from his family member, who was a teacher. At that moment, conventional soda had been outlawed on campuses. Hence, they substituted these beverages with even more unhealthy alternatives.

His soda was designed to give a healthier choice without sacrificing the tempting flavor. The drinks were available in four distinct flavors.

The best part is that this soda firm generated $175,000 in revenue before appearing on Shark Tank, demonstrating that the world needs this product offering.

Chill Soda Business Before Shark Tank

When Dan Mackey learned that his community’s public schools were prohibiting sodas and replacing them with other nutritionally equivalent options to, if not worse than, the “unhealthy” drinks, he was inspired to invent an incredible alternative, the Chill Soda.

Dan visited Shark Tank in episode 9 in quest of cash in return for shares in his firm. But, as it turned out, he was pursuing a meaningful life’s mission to convince soda drinkers that his soft drink line is a great substitute that tastes just as good with half the calories and is nutritionally superior.

Chill Soda During Shark Tank Pitch

Dan Mackey presented himself as a marketing professional who had just started an entrepreneurial journey during the pitch. He joined Shark Tank and offered a 10% stock share in Chill Soda for a $55,000 investment. Eventually, the Sharks accepted his offer.

Dan hoped that, beyond obtaining the funds, he would establish strong networks with the Sharks, engage with their connections, and learn from their business wisdom.

But unfortunately, it didn’t start well for the Sharks, who had a strong impression that the proprietor of this soda’s brand was serious instead of chill like his soda’s name. His uneasiness was pretty obvious, causing the Sharks to tackle and trigger him a lot.

Once queried about earnings, Dan delivered a jumbled message, making the Sharks think that he had sold only 250 cans while, in fact, he had sold 250,000 cans for $175,000 to a distributor.

The implication is that Dan’s lack of expertise in the beverage sector and his inadequate presenting abilities were compressed by Daymond John, who was the most forthright ivy league

Shark.

During Dan’s demonstration, Daymond was also the first Shark to publicly proclaim himself to be unfit for the investment. Next, Kevin Harrington said that more money would be required to make Chill Soda a breakthrough business.

It is a bit of a trick, Robert Herjavec had a similar spike pointed at Dan, noting the company’s lack of direction and inexperience in the industry. Consequently, he also eliminated himself from the deal. Swaying in the same agreement as John, Harrington, and Herjavec was Kevin O’Leary, aka Mr. Wonderful.

In contrast to the others, Kevin was less critical of this new entrepreneur. However, he did describe the beverage sector as the most ruthlessly competitive market and predicted that the company would fail due to the spontaneous world of beverage.

Against all odds, Barbara Corcoran was the only Shark that made the deal close. 

Chill Soda Closing Deal in Shark Tank

Last but not least; Chill Soda inventor Dan Mackey’s presentation in Shark Tank presentation got off to a good start.

He appeared on the ABC reality program and informed all the Sharks that his soda is organic, low-glycemic, antioxidant, and has no high fructose. Even if this invention is not rocket science, the best part of the drink is that it tastes like ordinary soda. He was in search of a $50,000 investment for a 10% stake in his firm.

One layer deeper, Barbara surprised the other Sharks when she described Dan as a consummate professional and a decent man for whom she had great enthusiasm in him. Despite Kevin’s vigorous requests for Babara to back off, the strong independent business woman discreetly decided to offer Dan $50,000 for 20% of the firm.

In the end, the founder happily embraced this offer. By the same token, Corcoran shows a good impression of the product’s taste, nutritional content, and the founder’s attitude.

Remember that Barbara is a legendary investor, speaker, author, consultant, syndicated columnist, and television personality. Most importantly, she is a wealthy American businesswoman with an estimated net worth of $100 million as of 2021.

She founded The Corcoran Group, a real estate firm in New York which she then sold to NRT for $66 million. She was a shark on ABC’s Shark Tank for all five seasons and has invested in over 50 businesses.

Chill Soda After Shark Tank

After Shark Tank, no current significant statement or report has featured the firm’s doings. Therefore, it is impossible to assess Chill Soda’s existing financial or operational state.

Moreover, the company’s webpage does give a good summary of the items they provide, with clear and concise explanations of the advantages.

However, at the time of this writing, it is likely that Dan’s deals with distributing partners when he was presenting in the Shark Tank pitch does not seem to exist anymore.

So currently, if you wish to buy any soda from the company, you must first contact the firm through email so that they may get the appropriate information and add you to their mailing list. But chances are the firm that maintains a web presence might not engage in actual product sales.

The Chill Soda website includes just one button, which says “Buy Now.” So, do you think it is probable that the company’s thriving beverage industry may see brighter days ahead?

The financial television once asked Barbara Corcoran about her financing in Chill Soda, and she admitted that she had lost money on the deal. However, she didn’t go into further detail about what really happened.

Current Update: Is Chill Soda Still In Business?

Therefore, it can be assumed that the firm does not operate its business anymore. This means Barbara’s investment in the Soda’s corporation was a total failure since both the firm and its creator failed to earn money.

Chill Soda appears to be among the numerous Shark Tank flops that have taken place. As of 2022, its website looked exactly the same as in 2015, with the same announcement that an “online Chill Soda shop” would be coming soon in the same location.

To put things into perspective, the company was indeed unable to thrive or even survive traditional soda firms and alternative soda brands. The present state of the firm is hard to determine since there has been no noteworthy information disclosed or publicized in the meantime.

On the bright side, the firm did have an excellent business portfolio that confidently and concisely discusses the advantages of their product range.