BeerMKR Net Worth is a high-tech device that makes it easy to brew your own beer at home. The company was first introduced at the Great American Beer Festival and later launched a successful Kickstarter campaign. They recently received $467,000 from another fundraising platform, though details were not disclosed.
Aaron Walls and Brett Vegas are the founders of this startup. They appeared on Shark Tank and asked for $500,000. They offered 2% of the company in exchange, which they valued at $25 million.
The founders are Aaron Walls and Brett Vegas
Aaron Walls and Brett Vegas are the founders of BeerMKR, a Boulder-based startup that makes home brewing easy and fun. They started their company in 2013 as BrewJacket, and renamed it to BeerMKR in 2021. The company offers a variety of products, including kits and brewing machines. The pair also developed a mobile app that allows people to create customized recipes and receive real-time updates about their brewing progress.
During their appearance on Shark Tank, the duo pitched their product with a $25 million valuation. They knew that they would be rejected, but they wanted to show the Sharks what their product could do. The sharks agreed that the product was innovative, but they were unconvinced by their valuation.
After the pitch, none of the sharks invested in BeerMKR. Barbara argued that the company had already raised $3 million in funding and did not have proof of concept. Mark, Alex, and Lori stepped out as well. Kevin offered a $500,000 loan at 9% interest in exchange for 4% of the company’s equity. The BeerMKR founders countered with 2%, but Kevin backed out of the deal.
Despite the Sharks’ refusal to invest in BeerMKR, the company has grown since its appearance on the show. The entrepreneurs have sold thousands of their brewing machines and have received significant media attention. In addition, the company won a gold medal in the National Homebrew Competition, which proves that their product is not just a fad.
The company is based in Boulder
Home brewing is an expensive and time-consuming hobby that requires a lot of equipment and knowledge. But BeerMKR, a countertop beer brewing system, makes the process easy and affordable for home brewers. BeerMKR was founded by Aaron Walls and Brett Vegas, who are both former college graduates with real-world business experience. Their company, originally named BrewJacket, raised a successful Kickstarter campaign in 2018, and has sold over 100,000 units since then. The company also offers pre-made recipes, which users can use with their device.
In the Shark Tank pitch, Aaron and Brett valued their company at $25 million. Despite their valuation, the sharks weren’t interested in investing in the startup. Barbara from Shark Tank walked away, and Mark, Alex, and Lori declined to invest as well.
The founders chose Boulder for their company’s headquarters because it has a unique community of entrepreneurs, beer enthusiasts, and technology companies. They believe that the combination of these factors will help them make their products more successful. However, they don’t expect to become millionaires from their company. They still plan on focusing on their product and growing their customer base. Eventually, they want to expand their company internationally. This expansion will require more money, so they may need to raise more capital in the future.
The company is still in business
The company first started out in 2013 as BrewJacket, but later rebranded itself to BeerMKR. The pair had been brewing their own beer as a hobby, and they came up with the idea to create a device that would allow people to make beer at home. The company is now a successful business that continues to operate.
The entrepreneurs pitched their product to the sharks in an episode of Shark Tank. They asked for $500 thousand for 2% equity at a $25 million valuation. However, the sharks did not like their valuation and did not offer a deal.
Since the show, BeerMKR has continued to grow. It has sold thousands of units and has become an international brand. Its technology has also made brewing craft beer easier for novices. The company even won the gold medal at the 2021 National Homebrew Competition.
The founders of BeerMKR have worked hard to build their company. They are now focused on growing their brand. They are looking to expand their operations and increase their production capacity. They are also working to improve their website so that customers can easily find what they are looking for. They have also begun to work with new partners to create unique products. The company also plans to invest in a bigger facility and hire more employees.