Chill Soda Update | Shark Tank Season 1

Dan Mackey noticed that public schools were replacing unhealthy sodas with equally or more unhealthy alternatives, leaving a gap in the market for a genuinely healthier option. Inspired by this, he created Chill Soda, a lower-calorie, nutritionally superior soda that tastes great. Let’s see how the negotiations go for Dan in our Chill Soda update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Chill Soda after Shark Tank.

Dan entered Shark Tank Season 1 to pitch his Chill Soda product. He sought $50,000 for 10% equity. After his pitch, he struck a deal with Barbara Corcoran for $50,000 for 20% equity.

In terms of a Chill Soda update, the company, unfortunately, had significant disagreements with Barbara and ultimately went out of business due to intense competition within the beverage market.

Shark	Result
Barbara Corcoran	Accepted offer of $50,000 for 20% equity
Kevin O’Leary	No offer
Kevin Harrington	No offer
Daymond John	No offer
Robert Herjavec	No offer

Shark Tank Chill Soda Pitch

• Entrepreneur: Dan Mackey
• Business: Organic, healthy soda alternative
• Ask: $50,000 for 10% equity
• Result: $50,000 for 20% equity
• Shark: Barbara Corcoran

Dan presented his vision for a healthier soda alternative, Chill Soda. He sought an investment to scale production and expand the brand’s presence in the competitive beverage market.

Chill Soda offers a low-calorie, carbonated drink infused with vitamins and sweetened with agave nectar, a natural sweetener.

This approach differentiates Chill Soda from traditional sodas, which typically use high-fructose corn syrup and lack vitamins. 

As a result, Chill Soda has a lower glycemic index, making it a healthier option for health-conscious consumers.

Moreover, despite its focus on natural ingredients and potential health benefits, Chill Soda struggled to gain significant market share.

Chill Soda offers three distinct flavors: Kola, Guava, and Lemon.

During the pitch, Dan treated the sharks to samples of Chill Soda, which they all found delicious. 

However, the sharks sensed Dan’s nervousness, leading to an intense questioning session.

Dan became flustered but revealed he had sold 250,000 cans for $175,000. He also admitted he had little experience in the industry.

Daymond John immediately declined to invest, followed by Kevin Harrington, who thought Dan would need much more money than he was asking for to succeed.

Robert Herjavec called Dan naive and exited the negotiations.

Kevin O’Leary believed Dan was unaware of the demands of the consumer goods market and also dropped out of the deal.

This left only Barbara Corcoran as a potential investor.

Despite warnings from her fellow sharks not to make any offer to Dan, Barbara offered $50,000 for 20% equity.

She was impressed by Dan’s demeanor and business approach. Dan accepted the offer and left Shark Tank with a deal.

Did the company succeed in the end? Keep reading our Chill Soda update to find out.

Shark Tank Chill Soda Update

Our Chill Soda update found that the deal with Barbara Corcoran was eventually finalized. 

However, the business encountered some challenges due to a crucial distribution disagreement. Barbara later revealed that she lost her investment, indicating that Chill Soda didn’t meet expectations.

As a result of this, customers needed to email the company directly for purchases, as there were no active sales channels.

Chill Soda eventually went out of business due to the challenges from operations coupled with the heavy competition.

Our research on the Chill Soda update found that Dan shifted his focus to launching a private equity firm in 2020, marking a new chapter in his entrepreneurial career.

This is our final Chill Soda update.

Would you like to learn about the other companies featured in Season 1, Episode 9? Follow the links below for our other company updates from the episode.

• Cornucopia Update
• VirtuSphere Update
• Gayla Bentley Fashion Update

Before you go, check out our Shark Tank Season 1 page for more updates