Home / Business and Economy / Shark Tank Alum Poppi Sells for $1.95B to PepsiCo
Shark Tank Alum Poppi Sells for $1.95B to PepsiCo
11 Mar
Summary
- Poppi, a functional soda brand, was acquired by PepsiCo for $1.95 billion.
- The brand grew from a kitchen experiment into a category-defining company.
- Co-founder shared insights on building a beverage startup and scaling during COVID.
Venture capitalists once doubted beverage startups due to thin margins and distribution challenges. However, a new wave of functional soda companies, like Poppi, has defied these assumptions. Poppi, a prebiotic soda brand, evolved from a simple kitchen experiment into a significant business.
Recently, Poppi was acquired by PepsiCo in a deal valued at $1.95 billion. This acquisition underscores the brand's remarkable growth and market impact. Poppi's co-founder, Allison Ellsworth, shared insights into building a startup in a venture landscape often favoring SaaS and AI.
Ellsworth detailed her experiences, including pitching on Shark Tank and scaling a digital-first brand amidst the COVID-19 pandemic. Her strategies involved leveraging social media, making rapid marketing investments, and actively responding to customer feedback. These efforts were crucial in transforming a niche drink into a category leader.
