Where Is Fizzics From Shark Tank Today?
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If you want all the goodness of a draft beer from the comfort of your own home, Fizzics is the product for you. David McDonald and Philip Petracca founded Fizzics, a device to make bottled and canned beer taste like it's been on tap. Its website states that the dispenser wants to turn every sip into a "premium experience" by improving the taste and feel of the drink. The system does not use chemicals, gas, or cartridges to achieve the change — only a pressurized system (via YouTube).
The compartment can hold anything up to a 64-ounce growler. Make sure the feed tube is inserted into the liquid and close the lid. Then, pull the tap handle forward, and the pressure alters the feel of the liquid as it is dispensed into a glass. The handle can be pushed backward to dispense foam to top off the beer for the full draft beer experience.
Although they had already made $3.2 million in sales prior to their "Shark Tank" appearance, the founders sought an investment to further their business.
They wanted more exposure for the product
David McDonald and Philip Petracca took Fizzics to the "Shark Tank" floor in the Season 8 premiere, seeking $500,000 in exchange for 4% equity in the company (via YouTube). The founders demonstrate how you can insert a can or bottle of beer into the Fizzics system, and passed out samples to the Sharks. They each got a glass of beer that was hand poured, and a glass that was dispensed using the Fizzics system so that they could compare the two.
Robert Herjavec was interested in investing, but he wanted a higher stake in the company. He offered the $500,000 the founders sought in exchange for 8%, but the owners immediately declined. Kevin O'Leary said that he had a wide network of people in the industry that he would be able to connect them with, so he offered them the same deal with the added bonus of making business connections. Barbara Corcoran and Daymond John both opted out. Lori Greiner also offered $500,000 for 8% and said she would throw in advertising through QVC to get the word out to more customers.
Herjavec countered the others, offering $800,000 in exchange for 10%, and said he would extend his deal to Greiner to join as well. The founders came back with a counteroffer for Herjavec and Greiner for a $2 million investment for 16%. Herjavec and Greiner agreed, and the four of them struck a deal.
The company took a hit, but sales are up again
After the show aired in 2016, Fizzics hit a bit of a rough patch. Philip Petracca left the company in 2017 to start his own brewery, according to APP., though he maintained an ownership stake in the company, and sales were going well at the time of his departure. In 2019, Fizzics Group LLC filed for bankruptcy reorganization. The company was able to recover, and in 2020, it completed a debt restructuring and reorganization plan (per PR Newswire).
Today, Fizzics is selling its third-generation product, the DraftPour portable home beer dispenser. The DraftPour, as well as the original Fizzics system, can be purchased from the Fizzics online store or through Amazon.
It's unclear if the Sharks still have any involvement in the company — Blue Water Ventures Two LLC, which is owned by Greiner, reportedly wanted $75,775 of commissions from Fizzics back in 2019, which Fizzics disputed when it filed for bankruptcy (via APP.). However, the company still broadcasts that the product is "As Seen on Shark Tank," on its homepage.