Square Keg Update | Shark Tank Season 14
With the hopes of securing $300,000 in exchange for 10% equity, in his company Square Key, let’s see if Tim Loucks can convince the sharks to make the investment during
Shark Tank Square Keg Update
- Entrepreneurs: Tim Loucks
- Business: Beverage / Keg
- Ask: $300,000 for 10% equity
- Result: $300,000 for 20% equity
- Sharks: Kevin O’Leary
The main product that Square Keg sells can hold up to 8 pints of beer at once. That equates to about a twelve-pack of beer.
Adjust the Regulator to the pressure you desire for enjoying your beverage. Fills and cleans like a growler with twice the volume (Fits 2x 64oz Growlers). Sets up in seconds using industry-standard mini keg tap hardware. Clean with hot water and a dash of dish soap inside SquareOne then rinse well. Gently wipe the regulator clean without submerging the regulator in water.
Moving on to the financial numbers for Square Keg, the sharks were pleased to learn that the company had generated more than $1.4 million in gross revenue. A single unit costs $130 to manufacture and produce and sells for about twice that amount to customers.
During the 2021 calendar year, Tim’s company lost about $250,000, but the company has shifted things in a positive direction and seems poised to net a profit of about 15% over the course of the year.
Daymond John wasn’t really familiar with the product or the industry in general, so he dropped out without making an offer to Square Keg. Lori Greiner and Peter Jones also dropped out because they didn’t believe in the current version of the product, but admitted that some new features could change the ballgame entirely.
Kevin O’Leary was the final shark still remaining, he wanted 20% equity in exchange for his $300,000. Tim Loucks accepted the offer after making just a single counter-offer but managed to secure the original deal at 20% equity for the $300,000.
Our Square Keg update is exciting because it seems like Tim Loucks and Kevin O’Leary are both motivated to secure and finalize the deal that was agreed upon.
In the meantime, sales have been boosted with the episode airing and any interested customers can continue to access the product page on Square Keg’s official website. We can’t wait to see what our next Square Keg update has in store!
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!