Liquid Death, a three-year-old ecologically conscientious firm that recently closed another $70 million fundraising round, seems to be making money by selling water in cans.
The Santa Monica-based company, whose motto is “Death to Plastic” was co-founded by Mike Cessario, CEO of Liquid Death and a former Netflix, creative director.
Liquid Death, which aims to offer a fun, nonpolluting alternative to plastic bottles, alongside a healthy beverage, is now worth $700 million.
Liquid Death now sells flavored drinks. They recognized an opportunity to market nonalcoholic beverages that look more appealing and are better for the environment than a standard plastic water bottle.
Mike Cessario, co-founder and CEO, declared, “If you don’t want to drink, this is lot more enjoyable,” and he added that he thinks brand loyalty would keep it competitive against National Beverage Corp.’s LaCroix or PepsiCo Inc.’s Bubly.
The money will be utilised to enter the European market and grow into additional beverage categories. The fact that Liquid Death’s cans make the product appear “fun and unhealthy like beer or an energy drink,” according to Cessario, is a contributing factor in its popularity.
Liquid Death is launching its second round of funding this year. According to the business, its January valuation was $525 million. The startup said that it has so far raised $195 million. The company eventually hopes to pursue an IPO. In the next two years, Cessario stated, “It’s a path we are exploring sometime in the next two years.”
