Liquid Death, a beverage company founded in 2019, has seen its valuation double from $700 million in 2022 to $1.4 billion. CEO Mike Cessario says the funds raised will be used to further develop the product ranges of the company, which started by selling spring water in cans and has expanded into carbonated and flavoured waters, as well as iced tea.
The company quickly positioned itself on the market as a multi-category brand and focused on healthy products, such as a flavoured sparkling water containing agave sugar, presented as an alternative to soda. Liquid Death has become the second best-selling flavoured sparkling water on Amazon and has also enjoyed success with its iced tea, becoming number one in this category.
or marketing, Liquid Death relies on social media, considering that this is where consumers' attention is primarily focused, unlike television or billboards. Distribution of Liquid Death products is handled by Anheuser-Busch's independent distribution network, with distributors who participated in the recent funding round, allowing for an extensive presence in convenience stores, grocery shops, bars and nightclubs.
As for the future, Cessario raises the possibility of an IPO or strategic partnership, while stressing that the company is currently focused on growth and margin improvement. The brand has attracted investors from a variety of backgrounds, including actors and athletes, as well as companies such as Live Nation who have chosen to reinvest.
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