Industry | Beverage |
---|---|
Founded | 2018 |
Revenue |
|
Website | drinkolipop |
Olipop is a soft drink produced in the United States. It is sold in over 25,000 stores in the United States [1] and the company had a revenue of $100 million for the first half of 2023. The drink's marketing claims that it improves gut health. Skeptics suggest that it is not better than having a balanced diet. [2]
The brand name Olipop is a combination of the prebiotic fiber named oligosaccharide (oli), and "pop", a common name for a soft drink in the United States. [3]
Ben Goodwin started developing a soft drink after leaving a kombucha company in 2008. [3] He spent about $300,000 of his personal savings into the drink, working in a makeshift lab with a microbiologist. The probiotic soft drink, named Obi, was created by 2012. [3] In 2013 Goodwin met with David Lester in a coffee shop, who had previously quit his job. [3] The two agreed to partner together in making Obi. [3] In 2016 the two sold Obi for an undisclosed amount after it failed to gain traction. [3] [4] They then went on to work on Olipop. [3]
Olipop was founded in 2018 by Ben Goodwin and David Lester with an initial investment of $100,000, taken from the sale of Obi. [3] The drink was first released in three flavours: ginger lemon, strawberry vanilla and cinnamon cola. [3] It sold in 40 grocery stores in its first year, in Northern California, and reached $852,000 in gross revenue. They later became on sale in Target and Walmart stores. [3] The company gathered $2.5 million in seed funding in 2019. [3] As of April 2023 [update] , there are 12 Olipop flavors; in April 2024, there were 16 at Olipop's website. [5]
A series B funding round was carried out in 2022, which raised $39.7 million. Funders included Gwyneth Paltrow, Mindy Kaling, and the Jonas Brothers. [3] As of January 2023 [update] , Olipop raised a total of $55.4 million in funding. [5] Olipop reached $73.4 million in gross revenue in 2022, [3] a 223% year increase; [6] and it reached $100 million gross revenue in the first half of 2023. [3] According to Goodwin, sales of root beer Olipop has overtaken those of A&W. [5] [6]
In 2022, Olipop created a banana cream flavor which was branded with Minions characters. [7]
As of September 2023 [update] , Olipop has over 100 employees. The workforce is remote. [3] Olipop offers a subscription which sends customers a box of drinks every few weeks. [8] Olipop sells exclusively to the United States and does not ship overseas. [3]
Cola is a carbonated soft drink flavored with vanilla, cinnamon, citrus oils, and other flavorings. Cola became popular worldwide after the American pharmacist John Stith Pemberton invented Coca-Cola, a trademarked brand, in 1886, which was imitated by other manufacturers. Most colas originally contained caffeine from the kola nut, leading to the drink's name, though other sources of caffeine are generally used in modern formulations. The Pemberton cola drink also contained a coca plant extract. His non-alcoholic recipe was inspired by the coca wine of pharmacist Angelo Mariani, created in 1863.
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Monster Beverage Corporation is an American beverage company that manufactures energy drinks including Monster Energy, Relentless and Burn. The company was originally founded as Hansen's in 1935 in Southern California, originally selling juice products. The company renamed itself as Monster Beverage in 2012.
Dr Pepper is a carbonated soft drink. It was created in the 1880s by pharmacist Charles Alderton in Waco, Texas, and first served around 1885. Dr Pepper was first nationally marketed in the United States in 1904. It is now also sold in Europe, Asia, North and South America. In Australia, New Zealand and South Africa, Dr Pepper is sold as an imported good. Variants include Diet Dr Pepper and, beginning in the 2000s, a line of additional flavors.
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