Phil Petracca and David McDonald pitched Fizzics in the opening episode of Season 8 of Shark Tank, an invention that improves beer’s flavor.
Beer flavoring agent Fizzics has a patent application pending. A personal beer dispenser called Fizzics enhances the heat and flavor of beer by dispensing bottled or canned beer directly into the mouth.
Fizzicss is a portable, lightweight beer dispenser that increases beer flavor and is ideal for outdoor parties and get-togethers with friends.
Since it is powered by two AA batteries, no extra parts or CO2 cartridges are required.
Any traditional container, from huge 64-ounce growlers to 12-ounce cans, can be used with it and is compatible with all kinds of beer.
Facts about Fizzics:
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Fizzics’s Net worth:
When Fizzics appeared on Shark Tank, it was valued at $2 million. As of 2022, Fizzics has a 4 million dollar net worth.
The WayTap, which works on cans and bottles up to 12 ounces, was introduced by Fizzics after they made an appearance on Shark Tank.
WayTap is a less expensive, more compact alternative to the well-known Fizzic. However, it only supports bottles and cans up to 12 ounces in size.
To develop the ideal magic trick for bottles and cans, Fizzics collaborated with Shark Tank. Fizzics raised an additional $1 million on Kickstarter to make it happen.
Phillip departed the organization to start a small brewery in Colts Neck, New Jersey. In March 2014, Fizzics declared bankruptcy. As of 2022, Fizzics is still operating and makes about $4 million.
David McDonald founded Frank Petracca Fizzics. “What is it about tap beer that makes it taste better than bottled beer?” Phil Petracca and David McDonald pondered.
According to further investigation, the problem may be connected to how beer is dispensed from a tap under pressure.
After examining how beer should be poured, they wondered whether they might create a gadget to make store-bought beer taste as wonderful as draught beer.
After a few years, Fizzics was created, to the delight of beer lovers everywhere. With the use of Fizzics, beer fans worldwide may now boost a typical can or bottle of beer to simulate drinking it straight from the tap.
They collaborated to use science to provide tap-fresh water to the domestic market.
They discovered a new way to make beer foam without using CO2 by using soundwaves instead. David and Phillip raised money for the expansion of Fizzics through a successful crowdfunding effort, put their employment on hold, and appeared on Shark Tank to do so.
On Shark Tank, Phil and David asked for a $500,000 investment in exchange for a 4% interest in Fizzics.
Only eight months after starting to ship their goods, Philip and David had made $3.2 million in sales. They anticipate a $220,000 profit.
A Fizzics retails for just over $199, while each one is made for just over $35.
Additionally, Phillip and David disclosed that they were developing a cheaper, smaller variant of their Waytap device that would operate with beer cans.
All of this was enough to pique the sharks’ interest, and they made many invitations to Philip and David.
In a joint effort, Mark Cuban and Lori Greiner proposed purchasing 90% of Fizzics for $800,000 or $10 million.
David and Philip agreed that having two sharks on board was a good idea.
Mark and Lori agreed to Philip and David’s counteroffer of $2,000,000 for 16.67% equity. He and Lori gave Philip and David a contract for Fizzics, and they left the Shark Tank set.
Mark Cuban and Lori Gre reach an agreement.
Final Agreement: Mark Cuban and Lori Greiner decided to contribute $2,000,000 in exchange for 16.67% of Fizzics’ ownership.
The deal for $2,000,000, or a 16.67% rise in the value of Fizzics, was accepted by Mark and Lori.
The business people walked away with smug looks after all four shook their heads.
Since their episode aired, Fizzics have made appearances on numerous selling platforms.
They created a smaller device called the WayTap that only takes 12-ounce bottles and cans as feedstock.
The smaller version was available on QVC for just $99, which is a whopping $100 cheaper than the larger version. Additionally, the smaller model is easier to carry.
The objective of Fizzics to increase the number of its sales channels has been accomplished. They are currently offered at several stores, including Bed, Bath & Beyond, Target, Best Buy, Brookstone, and Amazon.
The Fizzics products have received reviews from numerous reputable publications and websites, including cNet and Yahoo! Tech.
Fizzics’s net worth is?
It has a value of $2 million.
What happened to Fizzics after Shark Tank?
Eventually, they gained access to Target, Bed Bath & Beyond, Brookstone, Amazon, and other places. In 2017, Phillip quit his job to launch a boutique brewery in Colts Neck, New Jersey. The business filed for Chapter 11 bankruptcy in March 2019.
Who put money into Fizzics?
In 2016, Petracca and partner David McDonald appeared on ABC’s “Shark Tank,” where they sold beer to an unconvinced panel and won them over. For a combined 16.67% equity, Mark Cuban and Lori Greiner decided to invest $2 million in Fizzics. 1
How does the beer from Fizzics work?
A craft brewery’s keg or freshly poured draught beer will not compare to the smoothness, creaminess, or foaminess produced by the Fizzics machine’s utilization of ultrasonic sound waves to turn carbonation into densely compressed, homogeneous Micro-FoamTM bubbles.