Aaron Walls and Brett Vegas are MBA students from Cornell University, who have teamed up to work on a solution for those who want to brew beer in the convenience of their homes. The result is a home brewing system that comes with kits to help people brew craft beers at home. Will they brew up a deal on
If you’re short on time, here’s a quick overview of what happened to BEERMKR after
BEERMKR appeared on
|Kevin O’Leary||$500,000 loan with 9% interest and 4% equity|
|Barbara Corcoran||No Offer|
|Mark Cuban||No Offer|
|Lori Greiner||No Offer|
|Alex Rodriguez||No Offer|
Shark Tank BEERMKR Update
- Entrepreneur: Aaron Walls and Brett Vegas
- Business: All-in-one home beer brewing system
- Ask: $500,000 for 2% equity
- Result: No deal
- Shark: None
Now, before we proceed with our BEERMKR update, let’s talk about what has to be one of the highest asks in
According to the guys, the BEERMKR is the first countertop craft beer making system in the world. All in all, it takes about a week to brew your own beer at home with their product.
When asked about how they got into this business, Aaron shared that he and Brett love beer. Further, he was a home brewer for 15 years.
When they met in business school, they actually started the business in an entrepreneurship class that they took together.
The BEERKMKR itself costs $375 to manufacture and retails for $499. Then, the ingredient kits cost $9-$10 to make and cost $15 on the subscription plan for a 12-pack.
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When Kevin O’Leary asks about sales, they finally disclose that they are just getting started. This is alarming to Kevin, however they then share that after a successful Kickstarter campaign that received 1,000 orders and nearly $3 million in funding,
Further, they’ve so far shipped about 24 orders, and they plan to ship the rest within a couple of weeks time. Because of this though, Kevin is really put off by their $25 million valuation.
Barbara Corcoran is the first shark out. She says they haven’t sold enough product, nor is there enough proof of concept for her to invest.
Lori Greiner feels similarly to Barbara, and because the product hasn’t yet been in the hands of customers, she too is out.
Mark Cuban isn’t confident that he will get back his investment, so he is the next shark out.
Alex Rodriguez says the valuation is a turn-off, and he doesn’t see how he’d make any money. For those reasons, he is out.
The last shark left is Kevin, who described himself as a “connoisseur of all things with alcohol in them.” However, his offer comes as a $500,000 loan with 9% interest, and 4% equity.
Aaron and Brett counter at 2% with the debt, and Kevin meets them in the middle with 3%. In the end, they aren’t comfortable with the deal and leave
Keep reading our BEERMKR update to find out what happens following
We have great news to share in our BEERMKR update. On the same day that their episode on
Additionally, our BEERMKR update research found that they’ve grown to an estimated yearly revenue of $3 million.
While the brewers from Kickstarter were eventually shipped out and available for purchase, at the time of this writing, the BEERMKR is waitlisted. That said, their ingredient kits are still available to buy on the BEERMKR website.
There you can also join the waitlist if you’re eager to get one for your own home brewing. If we get any more news on a BEERMRK update we will let you know!
Be sure to check out updates for the other companies featured on Season 12 Episode 23:
For more on
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!