Super Bowl AD Olipop Poppi Soda
Source: Olipop
Yibi soda brand Olipop said Wednesday that its latest funding round is worth $1.85 billion, and the company raised $50 million for the company.
Founded in 2018, Olipop has promoted the growth of the Yibi Soda category, as well as its competitor Poppi, which is based on beverages. Super Bowl Advertising On Sunday. Both attract consumers’ claims that their drinks contribute to “gut health”, one of which Latest health trends Take over the food and drink aisles.
Olipop’s Series C funding round is led by a growth equity partner at JP Morgan Private Capital. The company plans to use the funds it raises to increase its product lineup, expand its marketing and distribute its soda more widely.
Today, Olipop is the highest non-alcoholic beverage brand in the United States, citing Circana/Spins data, the company said. About half of its growth comes from traditional soda drinkers, while the other half comes from consumers entering the carbonated soft drink category. According to the company, a quarter of consumers drink Olipop.
The company said that in early 2024, Olipop reached profitability. Last year, its annual sales exceeded $400 million, doubling a year ago. In 2023, Olipop founder and CEO Ben Goodwin Tell CNBC That soda giant Pepsi and Coca-Cola have already struck a potential sale.
Competitor’s rival Poppi was founded 10 years ago and raised $39.3 million as of 2023 at an undisclosed valuation as of 2023, according to PitchBook Data. Poppi’s annual sales reportedly reached $100 million in 2023. The appearance in the Super Bowl is the second year of paying for ads in big games.
Poppi also faces some opposition due to its health claims. According to court documents, the company is currently negotiating to resolve a lawsuit that believes Poppi’s drinks are not as healthy as the company claims.
