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Olipop

Olipop, Inc.
Company typePrivate
IndustryBeverage
Founded2018
FoundersBen Goodwin
David Lester
HeadquartersUnited States
Revenue
  • Increase US$73.4 million (2022)
Websitedrinkolipop.com

Olipop is a soft drink produced in the United States. It is sold in over 25,000 stores in the United States[1] and the company had revenue of $100 million for the first half of 2023. The drink's marketing claims that it improves gut health.[2]

The brand name Olipop is a portmanteau of the prebiotic fiber named oligosaccharide (oli), and "pop", a common name for a soft drink in the United States.[3]

History

Background

Ben Goodwin started developing a soft drink after leaving a kombucha company in 2008.[3] He spent about $300,000 of his personal savings into the drink, working in a makeshift lab with a microbiologist. The probiotic soft drink, named Obi, was created by 2012.[3] In 2013 Goodwin met with David Lester in a coffee shop, who had previously quit his job.[3] The two agreed to partner together in making Obi.[3] In 2016 the two sold Obi for an undisclosed amount after it failed to gain traction.[3][4] They then went on to work on Olipop.[3]

Olipop

Olipop was founded in 2018 by Ben Goodwin and David Lester with an initial investment of $100,000, taken from the sale of Obi.[3] The drink was first released in three flavours: ginger lemon, strawberry vanilla and cinnamon cola.[3] It sold in 40 grocery stores in its first year, in Northern California, and reached $852,000 in gross revenue. They later became on sale in Target and Walmart stores.[3] The company gathered $2.5 million in seed funding in 2019.[3] As of April 2023, there were 12 Olipop flavors; in April 2024, there were 16 at Olipop's website.[5]

A series B funding round was carried out in 2022, which raised $39.7 million. Funders included Gwyneth Paltrow, Mindy Kaling, and the Jonas Brothers.[3] As of January 2023, Olipop raised a total of $55.4 million in funding.[5] Olipop reached $73.4 million in gross revenue in 2022,[3] a 223% year increase;[6] and it reached $100 million gross revenue in the first half of 2023.[3] According to Goodwin, sales of root beer Olipop has overtaken those of A&W.[5][6]

In 2022, Olipop created a banana cream flavor which was branded with Minions characters. The drink is still produced today, albeit without the Minion or Despicable Me branding attached to it. [7]

In 2024, Olipop collaborated with Mattel to create a new flavor themed around Barbie. The flavor was peaches and cream and the can sported a design showing different pieces of Barbie iconography.

Operations

As of September 2023, Olipop has over 100 employees. The workforce is remote.[3] Olipop offers a subscription which sends customers a box of drinks every few weeks.[8] Olipop sells exclusively to the United States and does not ship overseas.[3]

Flavors

OLIPOP has developed a variety of flavors, including classic options, innovative blends and fruity selections:

  • Ridge Rush (Lemon-Lime-Orange)
  • Vintage Cola
  • Peaches & Cream
  • Classic Root Beer
  • Cream Soda
  • Classic Grape
  • Crisp Apple
  • Ginger Ale
  • Strawberry Vanilla
  • Cherry Cola
  • Orange Squeeze
  • Lemon Lime
  • Ginger Lemon
  • Doctor Goodwin
  • Watermelon Lime
  • Banana Cream
  • Cherry Vanilla
  • Tropical Punch

References

  1. ^ Bova, Dan (November 14, 2023). "How This College Dropout Co-Founded $200 Million OLIPOP". Entrepreneur. Archived from the original on November 24, 2023. Retrieved November 24, 2023.
  2. ^ Amenabar, Teddy; O'Connor, Anahad (April 3, 2023). "Prebiotic sodas claim to boost your health. Experts are skeptical". The Washington Post. Archived from the original on August 9, 2023. Retrieved December 26, 2023.
  3. ^ a b c d e f g h i j k l m n o p Smith, Morgan; Shamo, Lauren (September 16, 2023). "How Olipop's founders turned a $100,000 investment into a 'healthier' soda brand bringing in $20 million a month". CNBC. Archived from the original on November 22, 2023. Retrieved November 24, 2023.
  4. ^ Kirol, Payton (December 18, 2023). "Olipop's 38-year-old founder reveals his daily routine". Fortune Well. Archived from the original on December 26, 2023. Retrieved December 26, 2023.
  5. ^ a b c Lucas, Amelia (April 29, 2023). "Prebiotic soda Olipop approaches $200 million in annual sales — and CEO says Coca-Cola and PepsiCo have already come knocking". CNBC. Archived from the original on January 3, 2024. Retrieved January 3, 2024.
  6. ^ a b Kilmister, Angel (March 8, 2023). "OLIPOP's Prebiotic Root Beer Is Now More Popular Than A&W". Vice. Archived from the original on January 3, 2024. Retrieved January 3, 2024.
  7. ^ Kilmister, Angel (June 29, 2022). "I Tried the Minion Olipop Soda and Can Confirm It Slaps". Vice. Archived from the original on January 3, 2024. Retrieved January 3, 2024.
  8. ^ Rosmarin, Remi; Chen, Connie; Brains, James (December 13, 2023). "The 57 best subscription boxes you can gift in 2023". Business Insider. Archived from the original on January 3, 2024. Retrieved January 3, 2024.
Retrieved from "https://en.Wik.ipedia.Pro.org/w/index.php?title=Olipop&oldid=1257448137"

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