Where Is Genius Juice From Shark Tank Today?
What if your coconut water was blended with actual coconut? This was Alex Bayer's idea after tasting a coconut smoothie made by a friend. Here, the concept behind Genius Juice was born; smoothies made from coconut and little else.
“Genius Juice offered three flavors: original, turmeric, and coffee. However, Bayer needed enough money to cover operations until its next round of funding. The deal that fell through Bayer entered the”
After the launch in 2014, Bayer created a Kickstarter that raised just over $15,000. At the time of filming for "Shark Tank," Genius Juice offered three flavors: original, turmeric, and coffee. However, Bayer needed enough money to cover operations until its next round of funding.
The deal that fell through
Bayer entered the "Shark Tank" pitch room seeking $250,000 for 7% equity in the company, implying an approximately $3.6 million valuation. After catching the investors' attention with a jingle, he invited them to try samples of the smoothies, which they seemingly loved. Bayer noted sales the prior year were $376,000, and he projected the year of filming to hit nearly $1 million. Genius Juice was being sold in 1,100 stores and was about to launch in 400 more. However, the company was not turning a profit.
Lori Greiner dropped first, citing competition in the beverage industry as a primary worry. In addition, Rohan Oza noted operational concerns. Due to the lack of preservatives, the products need to be shipped frozen. He feared the logistical challenges would create too much work and therefore went out without making an offer.
Pleasantly surprised by the taste at only 100 calories, Barbara Corcoran offered the asking amount but for a 14% stake. Kevin O'Leary offered the same amount as debt with 9% interest, then 7% equity going forward. Ultimately, Cuban decided to partner with Corcoran, and the pair offered $500,000 for 25%, which Bayer accepted. However, as Bayer later noted in an interview with Forbes, he did not end up signing the deal, as he did not like the terms.
Immense investments and sales growth despite walking away
Despite not taking the deal, Bayer saw immense benefit from his "Shark Tank" experience. Genius Juice's WeFunder page noted that the company received $120,000 in online sales within 24 hours of the episode's airing. In addition, it found much more than the $250,000 investment originally sought on the show. After the airing, it raised $1.1 million in funding between WeFunder and other angel investors.
Today, Genius Juice offers three flavors: Original Coconut, Vanilla Cinnamon, and Mocha, as well as a variety pack. It also offers a subscription through its website so customers can have their smoothies delivered at an interval of their choosing. It can be found in several large grocery chains, including Whole Foods, Sprouts, Albertson's, and Costco. Genius Juice has also partnered with several brand ambassadors, including former NBA star Metta World Peace.
Genius Juice recently launched a Republic campaign to gain more funding, through which it raised $31,700. As noted on its profile, it has over $8 million in lifetime sales as of early 2023 and expects to break even in the same year. Despite walking away from its Shark Tank deal, Genius Juice has experienced a lot of sales growth. Given its all-natural ingredients, healthy formulation, and great taste, its success is no surprise.