BEERMKR is the world’s first automated beer brewing machine that anyone can efficiently operate. As of 2023, BEERMKR is expected to have a net worth of about $2 million.
Aaron Walls and Brett Vegas founded the company in 2017 and appeared in ABC’s Shark Tank season 12 episode 23 in 2021. They entered by seeking $500,000 for 2% of their business. Unfortunately, One of the manufacturers of home brewing equipment, BEERMKR, left the Shark Tank without a deal. even without Shark’s assistance, the business grew to become one of the most prosperous ones in the world. Additionally, BEERMKR is still a successful business in 2023.
But how does the company gain a net worth of around $2 million after the Shark Tank? Let’s find out about BEERMKR’s Latest update and Their Story So Far.
BEERMKR’s Net worth in 2023
BEERMKR’s current net worth as of 2023 is estimated at around $2 million. It has thousands of units sold in 2023 and has been highlighted in news outlets. The company has raised more than $300,000 in donations, valued at an estimated $18 million. Now let’s see how Shark Tank’s BEERMKR Is Doing.
Read BEERMKR’s worth and networth update in brief here.
How is BEERMKR doing now? [Latest update]
The BEERMKR App is available in the Google play store with a 4.7-star rating. But there are only 19 votes yet. The company’s last Instagram update was on 12th November 2022. Even though the business had a lower profit margin than the product’s current $899 pricing when it first appeared on Shark Tank, the owner is still working on expanding it.
In May 2021, The Cinemaholic reported that BEERMKR was running a fundraising campaign on StartEngine, where each share was priced at $5.98. As of September 8, 2022, the company has sold 1,000 units and raised $130,810 on the crowdfunding platform, and the campaign is still ongoing.
BEERMKR product list is also available on Amazon. As a holiday sale, now you can have one BEERMKR, one BEER TAP, and one MKRKIT just for $749.
In a post on the company’s blog, co-founder Aaron Walls mentioned that.
“We believe we are ready to disrupt the $100 Billion US domestic beer market. We believe in the potential of BEERMKR, and I know if we pitched the Sharks today, it would be a very different conversation.”
Currently, the company is seeking additional investments to support the company’s expansion plans.
What is BEERMKR?
BEERMKR is an automated, all-in-one home brewing system that brews, ferments, carbonates, and serves beer. It is smaller, cleaner, and simple to use and It works with the BEERMKR smartphone app to alert the user when the beer is ready.
It produces about a 12-pack of beer in three to seven days. The company also sells pre-made beer kits, called MKRKITs, that include all the ingredients to make a specific variety.
The core of BEERMKR is the software that automatically heats and cools the beer during the fermentation process. Who can be the founder of this amazing business?
Founder of BEERMKR
Aaron Walls had previously started doing some home brewing and worked with Brett to create the recipes. At Cornell Johnson Graduate School of Management, Aaron earned his master’s degree in business administration. He spent six years working for PKF Hospitality Research in addition to his schooling. He oversaw the BR Venture Fund for a single year.
Additionally, Brett Vegas completed an MBA in marketing at Johnson and Cornell University. Following his studies, he held positions with a variety of businesses, including Colgate Palmolive and The WhiteWave Foods Company. They also recruited Matt Goff and Evgeniy Tkachenko, two other engineering students. They established a business to facilitate and promote home brewing.
“Brewing is thousands of years old, and a lot of commercial brewing businesses are still doing the same thing. So, we just did what most startups do and questioned the assumed way of doing things,”
Brett Vegas
The company was originally established as BrewJacket in 2013 and was later rebranded as BEERMKR in 2021.
The BEERMKR team launched a successful Kickstarter campaign in September 2018 after debuting at the Great American Beer Festival in Denver, which helped them to raise funds. They exceeded their initial goal of $100,000 by gathering $398,276 from 1000 backers.
Additionally, the company has raised an additional $466,661 from another platform, but details about it are not yet publicly available.
What happened at the Shark Tank?
Aaron and Brett entered the shark tank to receive $500 000 for a 2% ownership in their business. This suggests a valuation of $25 million.
They delivered their speech and offered the sharks samples of their brew. This beer brewing machine produces 12 packs of beer and has received praise from Shark for its taste. It is priced at $375 for manufacturing and retails at $499.
Sharks weren’t as interested in the valuation as in the beer, especially after learning that the company had only sold 24 units.
The deal was halted by Barbara Corcoran, Lori Greiner, Mark Cuban, and Alex Rodriguez.
But Mr. Wonderful, also known as Kevin O’Leary, is still interested in this business. He offered 4% of the company in exchange for a loan of $500000 with a 9% interest rate. The boys returned with 2%, while Kevin scored about 3%. Aaron and Brett rejected this proposal.
Did BEERMKR stop its production after the Shark Tank? Let’s see
Here’s how the negotiations played out:
— beermkr (@MkrBeer) February 22, 2022
BEERMKR Shark tank update – What happened to BEERMKR After the Shark Tank
BEERMKR gained enormous popularity after they were featured on Shark Tank! They have sold and shipped THOUSANDS of BEERMKR units in less than a year.
In the fall of 2020, they shipped their first BEERMKR. They sold a further 1,000+ BEERMKRs and 15,000+ MKRKITs in 2021, generating close to $1M in sales in BEERMKR’s first year of operations.
In August 2021, the company shared a post stating that it had reached a milestone of 100,000 beers brewed.
BEERMKR announced that it had won the gold award at the National Homebrew Competition, which it referred to as the “Olympics of home brewing“, and emerged victorious against 164 other entries to take the first prize.
The entrepreneurs were not able to secure a deal with the Sharks, but they did get the chance to showcase their product to millions of potential customers, which could pave the way for future success in the beer industry.
Now we may check the customer reviews on this product.
BEERMKR review
Customer service is generally praised for being prompt and helpful. Reviews of the BEERMKR system are usually positive. Users highlight its ease of use and the quality of the beer it produces.
Customers appreciate the low-maintenance method of making beer without sacrificing flavor. Customers enjoy being able to customize recipes to create unique beers. This leading company also has some major competitors. Let’s get to know.
Competitors of the company
The PicoBrew Pro, The Strange Brew, The BeerDroid Fully Automated Beer Brewing System, The Zymatic All-Grain Brewing System, and The Brewie Automated Beer Brewing System are some of BEERMKR’s direct competitors.
FAQ
It weighs roughly around 100 pounds.
BEERMKR is a home brewing system that allows you to make a 12-pack of beer in about a week.
BEERMKR is being offered for $499. it comes with a tap for holding a beer, and more taps cost $199.
The company provides free shipping to all states in the union and Puerto Rico.
BEERMKR appeared on “Shark Tank” in 2021 but chose to reject the offer made by Kevin O’Leary and left the show without securing an investment.
Since its appearance on “Shark Tank” in 2021, BEERMKR has experienced success by selling 1,000 units and receiving coverage in multiple news outlets. The company is now looking for a bigger investor to aid in further growth and expansion.
As of January 2023, the company is still operating and has seen significant success since filming its “Shark Tank” segment in May 2021.