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Here’s how Shark Tank’s BEERMKR is really doing
Home brewing device BEERMKR made a splash when it appeared on “Shark Tank” in 2021. The Boulder, Colorado-based company was founded by friends Aaron Walls and Matt Goff, who bonded over their love of brewing beer while in college at Cornell University. The duo invented a home brewing system called the BrewJacket – renamed the BEERMKR – and debuted it at the Great American Beer Festival in Denver.
The BEERMKR automated countertop beer brewing machine is “simple enough for a first-time brewer, yet fully customizable for seasoned pros.” Working in conjunction with a BEERMKR smartphone app, the system can produce the equivalent of a 12-pack of beer in three to seven days, with little effort or intervention on the part of the user. The company also sells beer kits, called MKRKITs, that come complete with all the ingredients needed to make a variety of beers.
BEERMKR’s appearance on “Shark Tank”
The creators of BEERMKR pitched their product during an appearance on “Shark Tank” in May 2021. While the sharks seemed to like what they tasted, they weren’t as enthusiastic about what they heard – especially BEERMKR’s total of 24 units sold.
Kevin O’Leary offered the company a deal of $500,000 in exchange for 4% equity with a 9% interest rate on the money invested. Ultimately, BEERMKR decided to turn down the deal and leave without an investment from any of the sharks. In a post on the company’s blog, co-founder Aaron Walls explained the reasons for the decision.
BEERMKR’s post-Shark Tank growth
Following their appearance on “Shark Tank,” BEERMKR’s founders were looking to a new round of investment to fuel further growth. As of May 2021, BEERMKR had sold 1,000 units and launched a fundraising campaign on Start Engine, raising nearly $129,000 at a valuation of $12.3 million.
Since appearing on the show, BEERMKR has gained significant attention. The company has been featured in several news outlets and even won a prestigious award at the National Homebrew Competition, beating out 164 other entrants.
Availability and pricing
As of 2024, the BEERMKR machine is available for pre-order on the company’s website and out of stock on Amazon. BEERMKR is selling new machines for $399. In addition, customers have the option to purchase used, refurbished machines at a discounted price of $249. The company also offers MKRKITS to make brewing easier, different grains to make different types of beer, replacement parts, and even BEERMKR merchandise.
Overall, despite not securing a deal on “Shark Tank,” BEERMKR has managed to make significant strides in terms of sales, awareness, and product development. With a growing customer base and positive reviews, it’s clear that BEERMKR’s innovative home brewing system has found a place in the market.
FAQS
What is BEERMKR?
BEERMKR is a home brewing device that allows users to easily brew their own beer. It is an automated countertop beer brewing machine that is suitable for both first time brewers and seasoned pros.
How does the BEERMKR work?
BEERMKR works in conjunction with a smartphone app that guides the brewing process and provides notifications when the beer is ready. Users can customize their brewing preferences and the system can produce the equivalent of a 12-pack of beer in just three to seven days.
Did BEERMKR receive funding on Shark Tank?
No, BEERMKR did not secure a deal on Shark Tank. Despite receiving positive feedback from the Sharks and having the opportunity to showcase their product to millions of viewers, the founders decided to turn down the offers and seek alternative avenues for growth.
How has BEERMKR grown since being on Shark Tank?
After appearing on the show, BEERMKR experienced significant growth. They sold 1,000 units and launched a successful fundraising campaign, raising nearly $129,000 in funding. BEERMKR has also garnered media attention and accolades, including a gold award at the National Homebrew Competition.
Where can I buy a BEERMKR machine?
BEERMKR machines can be pre-ordered on the company’s website. They are currently out of stock on Amazon. The company also offers refurbished machines at a discounted price. In addition, customers can purchase beer kits, grain, parts and merchandise directly from BEERMKR.
Is BEERMKR for beginners?
Yes, BEERMKR is designed to be user friendly and suitable for first time brewers. The system provides step-by-step instructions and automation to make the brewing process easy to follow. However, it is also customizable for experienced brewers who want to experiment with different recipes and techniques.