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BeatBox bests Saucey, moves into #16 position in Wine Tech fundings with $15.87 million

This is part 2 of a 2-part premium double feature. The first article is at: Leading Millennials to wine? Sell the fun and don’t call it wine! But will BeatBox go the way of wine coolers and Annie Greensprings?


 

Beatbox makes a wine-based fruit beverage with 11.1% ABV. Its 5-liter box contains the equivalent of 34 mixed drinks. It also offers “MixTape,” a 500-ml. version with the equivalent alcohol content of three mixed drinks.

 

BeatBox Beverages raised eyebrows in 2014 when it appeared on  ABC’s Shark Tank in 2014 and Mark Cuban bought 33% of the company for $1 million. Since then it seems to have raised almost $16 million. “Seems” is appropriate since the company refused to comment on Wine Industry Insight’s investment round chart (below) sent to them on Feb. 5 to check for comments, accuracy and completeness.

 

While wine-based, this is arguably not wine, but a spiked fruit punch. However, because it means business for California wine companies such as Weibel, we have included it in our venture funding series.

 

In addition, because BeatBox is successfully selling to Millennials — as wine is not — the company offers some potential advice for those making traditional wine.

 

Finally, as we have discussed at length in “Leading Millennials to wine? Sell the fun and don’t call it wine! But will BeatBox go the way of wine coolers and Annie Greensprings?” the company’s business model seems to be following that of other passing fad drinks that took root among young “Twenty Somethings” of the past.

 

We discuss those issues in that companion article and see potentials for evading the disasters of the past.

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Previous Wine Industry Insight/Wine Executive News wine tech funding profiles: