Brewing beer at home is made easy by a gadget called BeerMKR. It’s a one-stop solution for making your craft beer right on your kitchen counter. On Shark Tank Season 12 Episode 23, the creators of BeerMKR asked for $500,000 in exchange for a 2% stake, valuing their company at $25 million.
BeerMKR has a three-step system for making beer, which involves a brewpub, a brew bag, and a waste bag. This setup simplifies the brewing process, saving time and eliminating the need for a fridge.
Lots of people love beer and often find themselves buying it. But many would prefer to make their beer at home. However, home brewing can be a tough and lengthy process, especially the cleaning up part. It’s important to know how to do it right to get good results.
BeerMKR was created to solve many problems for beer lovers who want to brew at home. It’s a game-changer in the homebrew scene. If you’re curious about how well the company is doing, there’s info available regarding its net worth and other related details about BeerMKR.
BeerMKR Net Worth
The company BeerMKR is now worth about $2 million in October 2023. They sold thousands of items this year and got mentioned in the news. They also collected over $300,000 from supporters, making the company worth about $18 million in total.
What is BeerMKR?
BeerMKR is a do-it-all machine for making beer at home. It brews, ferments, adds fizz, and gets your beer ready to drink, all in one neat package. It’s easy to use, takes up little space, and keeps things tidy. You can connect it to a special app on your phone, which will tell you when your beer is good to go.
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You can make about a 12-pack of beer with it, and it takes anywhere from three to seven days to do the job. The company behind BeerMKR also offers ready-to-brew kits named MKRKITs, packing in all you need to whip up a specific kind of beer.
At the heart of BeerMKR is its smart software that takes care of heating and cooling the beer as it ferments, making the process hassle-free.
Who is the Founder of BeerMKR?
Aaron Walls is the co-founder and CEO of the company BeerMKR. Aaron Walls took up home brewing as a hobby and teamed up with Brett to come up with recipes. He got his business master’s degree from Cornell Johnson Graduate School of Management.
Besides school, he worked at PKF Hospitality Research for six years and managed the BR Venture Fund for a year.
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On the other hand, Brett Vegas also got an MBA in marketing from Johnson and Cornell University. After finishing school, he worked at different places like Colgate Palmolive and The WhiteWave Foods Company. They later brought on board Matt Goff and Evgeniy Tkachenko, who were engineering students, to start a business that would make home brewing easier and more popular.
When did the BeerMKR Company Start?
The company first started as BrewJacket in 2013 but changed its name to BeerMKR in 2021. In September 2018. The BeerMKR group kicked off a fundraising campaign on Kickstarter following their introduction at the Great American Beer Festival in Denver. This campaign was a hit, pulling in nearly $400,000 from 1,000 supporters, far surpassing their initial target of $100,000.
On top of that, they managed to get almost $467,000 more from a different fundraising platform, though the specifics about this haven’t been shared publicly yet. Let’s check out how BEERMKR is doing on Shark Tank.
What Was the Shark Tank Pitch of BeerMKR?
Aaron Walls and Brett Vegas, who started BeerMKR, went on the show Shark Tank to ask for $500,000. They told the sharks they’d give 2% of their company for this money. They showed the sharks how their beer dispenser works. But the sharks didn’t like that they valued their company at $25 million.
BeerMKR can make 12 packs of beer, which the shark really liked the taste of. It’s sold for $499 but only costs $375 to make. They began with a Kickstarter campaign in 2018 and quickly sent out 1,200 units in the next two weeks.
You can see what exactly happened with BeerMKR on Shark Tank here:
Though they’ve only sent out 24 units in total, they’ve managed to raise $3 million already for their startup. Their company is estimated to be worth between $5 to $10 million. Since they’ve raised a good amount of money already, Barbara from the show couldn’t really argue against their value. Mark, Alex, and Lori from the show decided to step back too.
| Parameter | Detail |
|---|---|
| Company Name | BEERMKR |
| Product | Automated Countertop Craft Beer Brewing Machine |
| Episode | Season 12 Episode 23 |
| Founders | Aaron Walls and Brett Vegas |
| Asked For | $500,000 for 2% Equity |
| Final Deal | No Deal |
| Shark / Sharks | N/A |
| Location | Boulder, Colorado, United States |
pic.twitter.com/RGYWz2MeLN
— beermkr (@MkrBeer) February 22, 2022
BeerMKR Before Shark Tank
Originating as BrewJacket in 2013, the company rebranded to BeerMKR, Inc. in 2021, focusing on selling unique home brewing supplies. In 2018, they launched a Kickstarter, aiming for $100,000, but impressively raised almost $400,000 from 1,000 supporters.
Although they encountered some shipping delays, they persevered, unlike many businesses halted by the pandemic. BeerMKR allows enthusiasts to craft homemade beer, offering both the freedom to use personal ingredients or their ready-to-use recipes (MKRKITs). In 2018, a network article shed light on BEERMKR, amplifying its story and offerings.
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What Happened to BeerMKR After Shark Tank?
Before going on the show Shark Tank, BeerMKR had already gathered $3 million in funds even without selling anything, which didn’t sit well with the sharks, making them back out.
In a post from August 2021, the company mentioned that they had reached a milestone of brewing 100,000 beers.
They managed to get an additional $466,000 in funding recently, though details are scant.
BeerMKR revealed that it clinched the top spot at the National Homebrew Competition, often called the “Olympics of home brewing,” beating 164 other creations to win the gold award.
Although the creators didn’t strike a deal on the Sharks show, they got to show off their beer maker to tons of people. This could help them do well in the beer world later on. The product is now on sale on Amazon, but it hasn’t been receiving a lot of positive feedback there.
BeerMKR Shark Tank Update
This product got noticed when it was featured on a Shark Tank episode, which was like free advertising. However, it didn’t manage to get money from the sharks on the show.
To grow its business, the product started a crowdfunding campaign on StartEngine, raising $130,810 until September 8, 2022. They’re still collecting funds, selling shares at $5.98 each.
Additionally, they’ve collected $457,661 on a different platform. Right now, the company is making $3 million every year.
BeerMKR Review
People really like the quick and good help they get from customer service. Many people say good things about the BeerMKR system. They love how easy it is to use and the tasty beer it makes.
People are happy that making beer with it is easy and still tastes great. They also like making their special beer recipes.
Are there any Competitors of BeerMKR?
The PicoBrew Pro, The Strange Brew, The BeerDroid, The Zymatic, and The Brewie are some other machines like BeerMKR that also make beer automatically.
Frequently Asked Questions:
What’s the Weight of One BeerMKR?
It’s about 100 pounds heavy.
How Much Beer Can BeerMKR Brew?
BeerMKR lets you brew a 12-pack of beer in a week or so.
What’s the Price Tag on a BeerMKR?
You can get a BeerMKR for $499. It comes with a tap to pour your beer, and if you want more taps, they’re $199 each.
Does BeerMKR Ship for Free?
Yep, they ship it for free to all the states and Puerto Rico.
Did BeerMKR Snag a Deal on Shark Tank?
BeerMKR was on “Shark Tank” in 2021, but they said no to Kevin O’Leary’s offer and left without a deal.
How was BeerMKR Doing Post-Shark Tank?
After their “Shark Tank” gig in 2021, BeerMKR sold 1,000 units and got some media buzz. They’re now on the lookout for a bigger investor to help them grow more.
Is BeerMKR Still in Business?
Yes, as of October 2023, BeerMKR is still in business and doing well since its “Shark Tank” episode in May 2021.
