Anyone can brew Beer at home thanks to the all-in-one countertop craft brewing application known as BeerMKR. This BeerMKR requested $500k from the Sharks for a 2% share at a $25 million valuation in Shark Tank Season 12 Episode 23.
This Beer is processed using a three-tier system that includes a brewpub, brew bag, and waste bag. With the help of this device, making Beer at home is incredibly simple and time-efficient. Additionally, this craft beer can be made without refrigeration.
Many people enjoy Beer and often drink it. Because of buying Beer, many individuals desire to build their own homes. Making Beer at home is difficult. The procedure is drawn out, and the cleanup can take a lot of time. Anyone who wants to produce Beer must know how to do it correctly at home.
Under this ground-breaking method for craft beer, BeerMKR was developed to address the issue of beer enthusiasts making Beer at home.
Aaron Walls and Brett Vegas, the co-founders of BeerMKR, have asked Shark for $500k for a 2% ownership at a valuation of $25 million. The entrepreneur and the Shark negotiated this commercial transaction, but the company could not close the contract.
What Is BeerMKR?
Manufacturing beer is carried out using the BeerMKR home brewing kit. This Colorado-based business was founded in 2013 to speed up and automate the brewing process. It’s straightforward to use this kit to make Beer.
The BeerMKR uses a three-tier system (Brewtub, Brewbag, and Waste bag). It has an autonomous heating and cooling system managed by a smartphone app. The BEERMKR app allows users to keep track of the entire brewing process. The software also provides information on adding yeast and dry hops and sends push notifications for each process step.
This device uses a CO2 monitoring system in its construction, and through the sensors it uses, notifications are continuously supplied over the cloud through the mobile app. Inside the machine are sensors for temperature, and pressure, a thermoelectric heat exchange assembly, and wifi functionality.
The brew is straightforward to set up. Open the BeerMKR and add the grains and tap water to the top container. After that, switch the machine on by sealing the container, and it will enter the mode for liquid grains. Open the device, add the yeast and hops, and restart it for five to seven days. The pressure and temperature inside this BeerMKR will be carefully controlled.
When the Beer is ready, the mobile app notifies the user, and by taking out the beer bag from the machine and attaching it to the beer tap, a fresh craft beer can be enjoyed. BeerMKR + Beer tap costs $899, while a standalone beertap costs $149. There is also an Amazon listing for this item.
|Aaron Walls and Brett Vegas
|at-home beer brewer
|$500,000 for 2% equity
|Episode (Shark Tank USA)
|Season 12 Episode 23
|May 7, 2021
|Boulder, Colorado, US
|Go To Amazon
Who Is BeerMKR’s Founder?
The co-founder and CEO of the business BeerMKR are Aaron Walls. Cornell Johnson Graduate School of Management is where he obtained his Master of Business Administration. He worked for PKF Hospitality Research for six years while also attending school. He served as the BR Venture Fund’s fund manager for a calendar year.
Co-founder, CMO, and board member of the business, Brett Vegas, joined it in 2017. Additionally, he completed an MBA in marketing at Johnson and Cornell University. Following his studies, he held positions with various businesses, including Colgate Palmolive and The WhiteWave Foods Company.
He has been the company’s marketing director since 2016 at Colorado Base Sage V Foods.
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BeerMKR Before Shark Tank
BrewJacket was the original name of this company when it was founded in 2013, but in 2021 it changed its name to BEERMKR, Inc. This business is specialized in supplying conventional but cutting-edge home brewing materials.
With a goal of $100,000, the company’s Kickstarter campaign in September 2018 was successful, raising $398,276 from 1,000 backers. This company had to deal with shipping and production difficulties, which necessitated a delay in shipping.
However, several companies could not export it because of COVID-19, which cost them a lot of money. Using their components, people can manufacture fresh handmade Beer with this BeerMKR, but it also offers pre-made recipes (MKRKITs).
An article about BeerMKR that was published on the network in 2018 contained much information.
How Was The Shark Tank Pitch Of BeerMKR?
Aaron Walls and Brett Vegas, the founders of BeerMKR, joined Shark Tank and requested $500k in exchange for 2% equity from the sharks. Walked the Shark through the operation of this beer dispenser. The company’s $25 million value did not sit well with the sharks.
This brewery produces 12 packs of Beer. Shark cherished the flavor of this Beer. Although the machine costs $499 retail, it costs $375 to manufacture. They started a Kickstarter campaign in 2018 and sent 1,200 units over the following two weeks.
BeerMKR has already shipped 24 units in total. This startup has so far raised $3 million in finance, with a valuation of $5 to $10 million. Because the business has already received $3 million and is not a proof of concept, Barbara cannot make her case. After that, Mark, Alex, and Lori also exited the vehicle.
Kevin offered a $500k loan at 9% interest for 4% equity because he is still interested in the company. Kevin counters 3% equity, while the entrepreneur counters 2% equity. The businessman is uneasy about this agreement, and Kevin left in the interim.
What Happened To BeerMKR After Shark Tank?
Sharks left BeerMKR because the company had raised $3 million in funding before Shark Tank without any sales, which they disliked. This business published a post in August 2021 that said it had produced 100K beers.
The business recently raised $466K in investment. There isn’t a lot of information available currently. Although this product is now accessible on Amazon, there hasn’t been much positive feedback.
BeerMKR Shark Tank Update
People learned about this product, which was promoted for free after this Shark Tank episode aired. However, it was unable to secure finance from sharks. As of September 8, 2022, it has received $130,810 on the crowdfunding website StartEngine to expand its business. The cost of each share in this ongoing crowdsourcing project is $5.98.
In addition, the business has raised $457,661 from a different source. The current yearly revenue of this business is $3 million.
What Is BeerMKR Net Worth?
According to the creator, BeerMKR is currently worth $1.9 million and has produced $3 million in yearly sales.
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Is BeerMKR Still In Business?
There isn’t yet any additional information about this Colorado Bass Beer Making Machine. This company’s sales report hasn’t been made public either. Even though the business had a lower profit margin than the product’s current $899 pricing when it was first shown on Shark Tank, the owner is still working on expanding it.
This company has an extensive social media presence, and this product list is also available on Amazon. In November 2022, BeerMKR is still in operation.
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