Super Bowl advertisement from Poppi.
Source: Poppi
Prebiotic SODA brand Olipop said on Wednesday that it was appreciated at $ 1.85 billion in his last financing round, which brought $ 50 million for the company.
Olipop, founded in 2018, helped feed the growth of the prebiotic soft drink category, together with rival Poppi, who emphasized his drinks on Sunday with a super bowl advertisement. Both have attracted consumers with their claims that their drinks help with 'intestinal health', one of the latest wellness trends that take over food and drinks.
Olipop's series C finance round was led by JP Morgan Private Capital's Growth Equity Partners. The company is planning to use the collected money to add to its product setup, to expand its marketing and spread its soft drinks wider.
Nowadays, Olipop is the best not -alcoholic beverage brand in the US, both through dollar sales and the growth of unity, said the company, which mentions data from Circana/Spins. About half of its growth comes from old soft drinks, while the other half come from consumers who enter the carbonated soft drink category. According to the company, one in four Gen Z -Consumers drinks Olipop.
At the beginning of 2024, Olipop reached profitability, the company said. The annual turnover surpassed $ 400 million last year and doubled the year before. In 2023, Olipop founder and CEO Ben Goodwin told CNBC that Soda Giants Pepsico and Coca-Cola had already come over a potential sale.
For his part, Rival Poppi, which was founded 10 years ago, collected $ 39.3 million from 2023 with an unknown rating, according to PitchBook data. Poppi's annual turnover reportedly crossed $ 100 million in 2023. The appearance during the Super Bowl was the second consecutive year that it paid for an advertisement during the big competition.
Poppi is also confronted with some recoil for his health claims. The company is currently in conversation to arrange a lawsuit that claimed that Poppi's drinks are not as healthy as the company claims, according to the court applications.
