BeerMKR is a company that manufactures and sells the world’s first automatic beer brewing machine. BeerMKR started as a class project between Brett Vegas, Aaron Walls, and two others when they were attending Cornell for their MBAs.
Today, the company sells innovative yet traditional home brewing supplies for people who brew beer on a larger scale.
The BeerMKR is roughly the size of a microwave and costs $579, which also includes a tap to hold your beer. The company also offers a subscription service in which they deliver fresh ingredients straight to the customer’s home.
An instruction booklet is also given to take the customers through the process of mixing and adding the ingredients into the brewer.
BeerMKR Net Worth
The net worth of BeerMKR is estimated to be around $200 million.
BeerMKR During Shark Tank
Aaron Walls and Brett Vegas entered Shark Tank seeking $500,000 in exchange for a 2% stake in the company. This showed that Aaron Walls and Brett Vegas valued the company at $25 million. Both the current owners of the company presented their company to the Sharks and offered samples of the beer.
The Sharks liked the beer but disapproved of the valuation of the company, considering the company had sold only about twenty-four units. However, in BeerMKR’s defense, the company’s manufacturing process had gotten delayed by nine months due to the COVID-19 pandemic.
None of the Sharks made a proposal to Aaron Walls and Brett Vegas. Though, Kevin did make a proposal. He offered a $500,000 loan with an interest rate of 9% in exchange for a 4% stake in the company. Aaron Walls and Brett Vegas offered the stake at 2%, but Kevin counter-offered a 3% stake in the company.
In the end, however, both the owners felt dissatisfied with the loan aspect of the deal and walked away without any deal with the Sharks.
What Happened to BeerMKR After Shark Tank Deal?
Although BeerMKR were not able to reach any deal with the Sharks, the business still flourished as they have officially brewed more than 100,000 beers. The company has also become an award-winning company when a beer brewed by BeerMKR won gold at the Porters and Stouts Competition.
Apart from that, BeerMKR has made more than $100 billion in sales annually only in the United States of America. Around the world, BeerMKR has made more than $600 billion annually in sales. Furthermore, BeerMKR has expanded its distribution to Europe, Canada, and Australia.