In a market flooded with diet sodas and juices containing chemicals and excessive sugar, Dan Mackey created Chill Soda, a line of healthy sodas, as an alternative option. He wants to expand his business nationwide, so he entered Shark Tank and asked the Sharks for $50,000 in exchange for a 10% ownership stake in his company.
Do you think the Sharks will invest in his business or not? Let’s find out what happened to this business in the end and what its current situation is.
| Company Name | Chill Soda | |
| Founder/Co-Founder | Dan Mackey | |
| Founded | 2009 | |
| Product | line of healthy soda | |
| Asked For | $50K for 10% equity | |
| Final Deal | $50K for 20% equity | |
| Shark | Barbara Corcoran | |
| Episode | S1 E9 | |
| Air Date | Oct 13th, 2009 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Sausalito, California, United States | |
| Lifetime Sales | $0.2M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Dan told Shark Tank that One Can Soda has a total of 85 calories, but he lacks extensive knowledge of the beverages industry, including distribution, shelf space, and more. Therefore, he hired a beverage management company to assist him.
He has sold 250,000 cans and generated a total revenue of $175,000. Dan directly told the Sharks that he is a marketing guy and lacks extensive knowledge of the beverages industry. This led Daymond John to say, “He is out.”
Kevin Harrington said that growing this business would require millions of dollars, and he is not willing to take that risk. Therefore, he is out.
Robert Herjavec and Kevin O’Leary declined to invest in this business, but Barbara Corcoran showed interest. She offered $50,000 for 20% equity, and Dan accepted the offer without hesitation.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | $50,000 for 20% equity |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | $50,000 for 20% equity |
Chill Soda Shark Tank Update
After the deal was completed, Barbara lost all her investment money. Unfortunately, Dan lacked any knowledge of the beverages industry, leading to the business being unable to sustain. Sadly, the business had to be shut down due to these unfortunate circumstances.
Through our research on Chill Soda’s update, we discovered that Dan started an exchange technology company called SecondTrades in 2020. This is the complete information about this business.
If you’re still interested in learning more updates about Season 1 businesses, below are some links shared.
