Square Keg Update | Shark Tank Season 14

While facing frustration in his medical device sales career, Tim Louks noticed traditional kegs were bulky and inconvenient. He also realized they were limited to beer, leaving no suitable option for other beverages. Inspired one night in 2017, he designed SquareOne, a compact, fridge-friendly keg that works with beer, wine, cocktails, and more. With its simple setup and portability, it solves the pain of enjoying fresh drinks on tap at home. Let’s see if the sharks will buy into this idea in our Square Keg update and pitch recap.

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

Tim entered Shark Tank Season 14, seeking $300,000 for 10% equity in his beverage business. After his presentation, he made a deal with Kevin O’Leary for $300,000 for 20% equity.

In terms of a Square Keg update, the company grew to $3.5 million in lifetime sales shortly after airing. However, in late 2024 Square keg mysteriously shut down its website.

Shark	Result
Kevin O’Leary	Accepted offer of $300,000 for 20% equity
Peter Jones	No offer
Mark Cuban	No offer
Daymond John	No offer
Lori Greiner	No offer

Shark Tank Square Keg Pitch

• Entrepreneur: Tim Loucks 
• Business: Beverage / Keg 
• Ask: $300,000 for 10% equity
• Result: $300,000 for 20% equity
• Shark: Kevin O’Leary

Tim kicked off his pitch by introducing SquareOne, a compact keg designed to solve traditional kegs’ storage and versatility issues.

Driven by his vision, he sought a $300,000 investment to scale production, boost marketing, expand distribution, and ensure that his product is widely accepted.

Square Keg makes compact, square-shaped stainless steel kegs designed for storing and serving various beverages, including beer, wine, cocktails, soda, and cold-brew coffee.

The keg is practical and easy to use. It features a built-in tap system and can be used to dispense drinks using water or nitrogen cartridges.

Its square design fits neatly in refrigerators and coolers. This makes it portable and ideal for home use, parties, and outdoor events. It provides a better alternative to traditional bulky kegs.

Daymond John starts by questioning the value of putting mixed drinks in the kegs. Tim explains that it allows users to prepare large batches of drinks for convenience, especially for on-the-go scenarios.

When Lori Greiner asks if wine can be stored in the keg, Tim mentions he’s developing a version that uses Argon gas to preserve wine.

He also demonstrates how to disassemble and depressurize the product. At one point, Mark Cuban accidentally splashes himself with beer.

Tim reveals that he has sold over 4,000 units. Lifetime sales, accumulated in just over a year, exceed $1.4 million.

However, the company faced a loss of $250,000 in 2021 but is now on track to achieve a 15% net profit.

For July 2022 alone, sales are projected to surpass $200,000.

Each keg costs $130 to produce and retails for $259. Tim shares that they’ve recently opened their own manufacturing facility in Washington to refine production processes and lower costs.

Although SquareOne currently targets direct-to-consumer sales, Tim also has plans to expand into the commercial market.

Despite finding the product amusing, Daymond says he doesn’t see the value and is out.

However, Lori bows out of the negotiations, citing the absence of a completed wine product.

Mark and guest shark Peter Jones also exit, feeling the product doesn’t align with their expertise.

Kevin O’Leary remains intrigued and presses Tim on the timeline for the wine version. Tim assured him it would be ready within three months.

Lori reacts, questioning why Tim didn’t mention this earlier. Kevin emphasizes that the wine industry has been waiting for an innovation like this for 20 years.

He offers $300,000 for 20% equity, stating Tim needs someone who can dominate the online market.

Tim counters with 15% equity, but Kevin declines, citing the effort required to scale the business.

After a brief pause, Tim accepts the deal.

Keep reading to find out if everything worked out for Tim and Kevin in our Square Keg update.

Shark Tank Square Keg Update

Our Square Keg update found that the deal with Mr. Wonderful fell through for undisclosed reasons.

Further, despite having a lot of success after airing, Square Keg appears to have closed up shop.

Our Square Keg update found that the website is no longer active, and its social channels haven’t been updated since late 2024.

Before closing, Square Keg saw a substantial increase in sales and customer interest. By late 2023 Square Keg had grown to around $3.5 million in lifetime sales.

The company expanded its product line to include various sizes and accessories, such as faucets and water cartridges, priced between $6.99 and $199.99.

Furthermore, our Square Keg update found that they also ventured into new markets, including offices and events, and established partnerships with breweries and wineries to offer special deals.

It’s unclear what happened, and we have reached out to Tim for a comment. If we hear back or learn more, we will let you know!

For now, it seems like this might be our final Square Keg update!

For more updates on companies from Shark Tank Season 14 Episode 6, be sure to check the links below:

• Collars & Co. Update
• Nana Hats Update
• Wondry Update

Before you go, check out our Shark Tank Season 14 page for more updates.